Kansas Statutes 79-32,285. Definitions
Terms Used In Kansas Statutes 79-32,285
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- federal internal revenue code: shall mean the provisions of the federal internal revenue code of 1986, and amendments thereto, and other provisions of the laws of the United States relating to federal income taxes, as the same may be or become effective at any time, or from time to time, for the taxable year. See Kansas Statutes 79-32,109
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof. See Kansas Statutes 79-3271
As used in Kan. Stat. Ann. 2023 Supp. 79-32,284 through 79-32,289, and amendments thereto, unless the context otherwise requires:
(a) “Act” means the provisions of Kan. Stat. Ann. 2023 Supp. 79-32,284 through 79-32,289, and amendments thereto.
(b) “C corporation” means a corporation other than an S corporation.
(c) “Electing pass-through entity” means, with respect to a taxable period, an S corporation or partnership that has made the election under Kan. Stat. Ann. 2023 Supp. 79-32,286, and amendments thereto, with respect to the taxable period.
(d) “Electing pass-through entity owner” means, with respect to an S corporation, a shareholder of the S corporation and, with respect to a partnership, a partner in the partnership, except that a partner does not include a C corporation.
(e) “Income attributable to the state” means, with respect to an S corporation or partnership, the portion of the items of income, gain, loss or deduction of the S corporation or partnership apportioned or allocated to this state in accordance with the provisions of Kan. Stat. Ann. §§ 79-3271 through 79-3293b, and amendments thereto.
(f) “Income not attributable to the state” means all items of income, gain, loss or deduction of an electing pass-through entity other than income attributable to the state.
(g) “S corporation” means a corporation having an election in effect under subchapter S of the federal internal revenue code.
(h) “Taxable period” means any taxable year or portion of a taxable year during which a corporation is an S corporation or a noncorporate entity is a partnership.