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                                                        KANSAS                                                        192318
K-73
(Rev. 8-19)	                                  PETROLEUM REFINERY CREDIT 

              For the taxable year beginning _________________ , 20____ ;  ending _________________ ,  20____ .
Name of taxpayer (as shown on return)                                                               Social Security Number or Employer ID Number (EIN) 

If partner, shareholder or member, enter name of partnership, S corporation, LLC or LLP             Employer ID Number (EIN) 

PART A – COMPUTATION OF CREDIT 

Complete PART A in the year the new refinery, the expansion of an existing refinery or the restoration of production of a refinery has been 
placed into service. 

1. Enter the total amount of the “qualified investment”. Do not enter more than $250,000,000.                         1.__________________

2. Authorized credit percentage.                                                                                      2.__________________10%

3. Credit limit on the “qualified investment” of $250,000,000 or less. Multiply line 1 by line 2.                     3.__________________ 

4. Enter the total amount of the “qualified investment” that exceeds $250,000,000.                                    4.__________________

5. Authorized credit percentage.                                                                                      5.__________________ 5%

6. Credit limit on the “qualified investment” that exceeds $250,000,000.  Multiply line 4 by line 5.                  6.__________________ 

7. Credit limit on the total “qualified investment”. Add line 3 and line 6.                                           7.__________________

8. Authorized credit percentage allowed to be claimed each tax year.                                                  8.__________________10%

9. Total credit allowed to be claimed in the year the refinery is placed into service.  Multiply line 7 by line 8.    9.__________________

10. Proportionate share percentage (see instructions).                                                                10. ________________

11. Your share of the credit that may be claimed this tax year and the next subsequent nine (9) tax years.
   Multiply line 9 by line 10.                                                                                        11. _________________

PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR 

Indicate, by checking the appropriate box, which year of the ten (10) equal annual installments for which this credit is being claimed: 
     1st yr.  2nd yr.               3rd yr.  4th yr.  5th yr.                        6th yr.  7th yr.  8th yr.         9th yr.  10th yr.
If the credit is being claimed for the “carry-over” 11th, 12th, 13th or 14th tax years, skip line 12 and make an entry on line 13. 

12. Enter the amount from line 11, Schedule K-73 from the first year in which this credit was claimed.                12. ________________

13. Enter the amount of available carry forward credit from the prior year’s Schedule K-73.                           13. ________________

14. Total credit available this tax year.  Add lines 12 and 13.                                                       14. ________________

15. Amount of your Kansas tax liability for this tax year after all credits other than this credit.                   15. ________________

16. Amount of credit allowable this tax year.  Enter the lesser of lines 14 or 15.
   Enter this amount on the appropriate line of Form K-40, Form K-41 or Form K-120.                                   16. ________________
   If line 16 is less than line 14, complete PART C.

PART C – COMPUTATION OF CARRY FORWARD CREDIT

17. Amount of credit to carry forward to next year’s Schedule K-73.  Subtract line 16 from line 14.
   Enter this amount on line 13 of next year’s Schedule K-73.                                                         17. ________________



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                               INSTRUCTIONS FOR SCHEDULE K-73

               GENERAL INFORMATION                                      LINE 6 –  Credit limit on the qualified investment that exceeds 
                                                                        $250,000,000.  Multiply line 4 by line 5, and enter the result. 
K.S.A. 79-32,218 provides a credit against the Kansas income 
tax liability of a taxpayer who makes a “qualified investment” in a     LINE 7 –  Credit limit on the total qualified investment.  Add line 3 
                                                                        and line 6, and enter the result. 
refinery for tax years beginning after 12/31/05 and before 01/01/11. 
The credit is 10% of the taxpayer’s qualified investment on the         LINE 8 – Authorized credit percentage. This credit may be claimed 
first $250,000,000 invested, and 5% of the taxpayer’s qualified         in ten (10) equal annual installments. 
investment that exceeds $250,000,000. The credit will be taken          LINE 9 –  Total credit allowed to be claimed this tax year.  Multiply 
in 10 equal, annual installments, beginning with the year in which      line 7 by  line 8, and enter the result. 
the taxpayer places into service the new refinery, the expansion        LINE 10  –  Partners, shareholders or members: Enter the 
of an existing refinery or the restoration of production of a refinery. percentage that represents your proportionate share in the 
Before making a qualified investment, a taxpayer shall apply            partnership, S corporation, LLC or LLP.  All other taxpayers: 
to the Secretary of Commerce to enter into an agreement for a tax       Enter 100%. 
credit. After receipt of such application, the Secretary of Commerce    LINE 11 –  Your share of the credit.  Multiply line 9 by line 10  and 
may enter into an agreement with the applicant for a petroleum          enter the result. 
refinery credit if the Secretary determines that the taxpayer’s 
proposed investment satisfies the requirements.                         PART B – COMPUTATION OF TOTAL CREDIT CLAIMED THIS YEAR 
If the credit allowed exceeds the taxpayer’s tax liability in any 
one taxable year, the amount of the credit that exceeds the tax         Indicate, by checking the appropriate box, which year of the 
liability may be carried forward until the total amount of the credit   annual installments for which this credit is being claimed. 
is used, except that no such tax credit shall be carried over for       LINE 12 – Enter the amount from line 11, Schedule K-73 from the 
deduction after the 14th taxable year after the taxable year in         first year in which this credit was claimed. 
which the first annual installment is allowed.                          LINE 13 – Enter the amount of available carry forward credit from 
Expenditures used to qualify for this credit shall not be used to       the prior year’s Schedule K-73. 
qualify for any other type of Kansas income tax credit.                 LINE 14 – Total credit available.  Add lines 12 and 13, and enter 
Expansion of an existing refinery means expansion which                 the result. 
begins after 12/31/05, of the capacity of an existing refinery by at 
                                                                        LINE 15 – Enter your tax liability after all credits other than this 
least 10% of such capacity.                                             credit. 
New refinery means a refinery; construction of which begins 
                                                                        LINE 16 – Enter the lesser of lines 14 or 15. This is the amount of 
after12/31/05. 
                                                                        credit allowed for this tax year. Enter this amount on the 
Qualified Investment           means expenditures made in               appropriate line of Form K-40, Form K-41 or Form K-120. 
construction of a new refinery, expansion of an existing refinery 
or restoration of production of a refinery, for real and tangible       If line 16 is less than line 14, complete PART C. 
personal property incorporated in and used as part of such refinery. 
Refinery means an industrial process plant, located in this state,             PART C – COMPUTATION OF CARRY FORWARD CREDIT 
where crude oil is processed and refined into petroleum products. 
                                                                        LINE 17 – Subtract line 16 from line 14. This is the amount of 
Restoration of production of a refinery means restoration               credit to carry forward to next year’s Schedule K-73. 
which begins after 12/31/05, of production of a refinery which has 
been out of production for five or more years.                                  IMPORTANT:   Do not send any enclosures with this 
                                                                                schedule. A copy of the approved authorization from the 
          SPECIFIC LINE INSTRUCTIONS                                            Secretary of Commerce must be kept with your records. 
                                                                        The Kansas Department of Revenue reserves the right to request 
Enter all requested information at the top of this schedule.            additional information as necessary.
               PART A – COMPUTATION OF CREDIT                                       TAXPAYER ASSISTANCE 
(To be completed only in the first year that this credit is claimed)    Address questions about qualifying for this credit to:
LINE 1 – Enter the total qualified investment up to and including                   Kansas Department of Commerce
the first $250,000,000 made in the construction of a new                            1000 SW Jackson, Suite 100 
refinery, expansion of an existing refinery or restoration of                             Topeka, KS  66612-1354 
production of a refinery, including all real and tangible                                    Phone: 785 296-3481-
personal property incorporated in and used as part of such                                http://kdoch.state.ks.us 
refinery. 
LINE 2 –  The credit is limited to 10% of the first $250,000,000 of     For assistance in completing this schedule contact the Kansas 
qualified investment.                                                   Department of Revenue: 
LINE 3  –  Credit limit on the qualified investment for the first                         Taxpayer Assistance Center 
                                                                                             Scott Office Building
$250,000,000.  Multiply line 1 by line 2, and enter the result.                                120 SE 10th Ave.
LINE 4 – Enter the total qualified investment which exceeds the                                PO Box 750260
                                                                                          Topeka KS 66699-0260 
first $250,000,000 of investment made in the construction of 
a new refinery, expansion of an existing refinery or restoration                             Phone: 785-368-8222
                                                                                             Fax:  785-291-3614 
of production of a refinery. 
LINE 5  The credit is limited to 5% of the qualified investment        Additional copies of this income tax credit schedule and other 
that exceeds $250,000,000.                                              tax forms are available from our website at: ksrevenue.gov. 






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