Kansas Statutes 9-2327. Tax classification as determined under the federal internal revenue code
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Kansas Statutes 9-2327
- 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.
- Fiduciary: A trustee, executor, or administrator.
- 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: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- Trustee: A person or institution holding and administering property in trust.
Notwithstanding the provisions of Kan. Stat. Ann. § 17-2035, and amendments thereto, for purposes of any tax imposed by the state or any instrumentality, agency or political subdivision of this state, a business trust that is used in connection with fidfin transactions or custodial services, as defined in Kan. Stat. Ann. § 9-2301, and amendments thereto, and for which a fiduciary financial institution, as defined in Kan. Stat. Ann. § 9-2301, and amendments thereto, serves as trustee shall be classified as a corporation, an association, a partnership, a trust or otherwise, as shall be determined under the federal internal revenue code.