191318
                                                  KANSAS
K-55(Rev. 8-19)                              VENTURE CAPITAL 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)

Date(s) of investment or transfer:           Name(s) of Kansas venture capital company:
____________________________________________ _________________________________________________________________________________________________________

____________________________________________ _________________________________________________________________________________________________________

o Check here if this credit is a result of a transfer of credit from an investor in a Kansas venture capital company.
Name of original investor: _______________________________________________________________________________________________________________________________
Address of original investor: ____________________________________________________________________________________________________________________________

PART A – COMPUTATION OF CREDIT FOR THIS YEAR’S INVESTMENT (C Corporations, Privilege, and Premium taxpayers only)

1. Total amount of cash investment this tax year.                                                               1. ________________
2. Maximum percentage allowed.                                                                                  2. ________________25%
3. Maximum allowable credit for the amount invested this tax year (multiply line 1 by line 2).                  3. ________________
4. Amount of tax liability for current taxable year and all previously claimed credits.                         4. ________________
5. Amount of credit allowable this tax year (enter the lesser of line 3 or line 4).                             5. ________________

PART B – COMPUTATION OF CREDIT CARRY FORWARD

6. Total credit for amount invested this year (enter the amount from line 3).                                   6. ________________
7. Total amount of carry forward available on this return. Enter the amount of available carry
   forward from the prior year’s K-55 (enclose a copy of that schedule).                                        7. ________________
8. Total credit (add lines 6 and 7).                                                                            8. ________________
9. Amount of your Kansas tax liability for current taxable year after all previously claimed
   credits (enter amount from line 4).                                                                          9. ________________
10. Credit available for carry forward to next year’s K-55 (subtract line 9 from line 8; cannot be
   less than zero).                                                                                             10. ________________

PART C – COMPUTATION OF TOTAL CREDIT CLAIMED THIS TAX YEAR

11. Total credit claimed this tax year (enter the lesser of the sum of line 5 and line 7 or line 4).
   Enter this amount on the appropriate line of Forms K-40, K-120 or K-130.                                     11. ________________

                              INSTRUCTIONS FOR SCHEDULE K-55

                GENERAL INFORMATION                             LINE 4 – Enter the total Kansas tax liability for the current 
                                                                tax year after all credits other than the credit allowed for 
A credit may be deducted from a taxpayer’s income or            investments made during this tax year.
privilege tax liability if the taxpayer invests in stock issued 
by Kansas  Venture  Capital,  Inc. (K.S.A. 74-8205).  The       LINE 5 – Enter the amount from line 3 or line 4, whichever is 
                                                                less. This is the maximum credit allowed for investments 
taxpayer may also modify from federal  taxable income 
                                                                made during this tax year.
any dividend income on stock issued by Kansas Venture 
Capital, Inc. The amount of credit is 25% of the total cash          PART B – COMPUTATION OF CARRY FORWARD CREDIT
investment in such stock. A credit amount that exceeds the 
tax liability in any one taxable year may be carried forward    LINE 6 – Enter the total credit for the amount invested this 
until used.                                                     year from line 3.
For  tax  year 2013, and all tax  years thereafter,  new        LINE 7 – Enter the carry forward amounts available from 
credits shall be available to only: 1) C corporations that are  prior years K-55 schedules. Enclose or fax a copy of the 
subject to the Kansas corporate income tax;  )2taxpayers        K-55 schedules from prior years.
subject to the privilege tax as measured by net income of 
financial institutions imposed pursuant to K.S.A., Chapter      LINE 8 – Add lines 6 and 7 and enter the result.
79, article 11; and,  )3any insurance company subject to        LINE 9 – Enter amount of your total Kansas tax liability 
the premium tax and privilege fees imposed pursuant to          for the current tax year after all credits other than this 
K.S.A. 40-252. New credits are not available to individuals,    credit.
partnerships, S  corporations,  limited liability companies,    LINE 10 – Subtract line 9 from line 8 and enter result. This 
and other pass-through entities.                                amount cannot be less than zero.
Carry Forward  of Unused  Credits: If this credit was 
earned prior to tax year 2013 and a carry forward credit        PART C – COMPUTATION OF TOTAL CREDIT CLAIMED THIS TAX YEAR
remains available to a taxpayer, that taxpayer may continue     LINE 11 – Enter the lesser of the sum of lines 5 and 7 or the 
to claim that credit. However, that carry forward credit shall  amount on line 4. Enter this amount on the appropriate 
be subject to limitations and requirements in place at the      line of Forms K-40, K-120 or K-130.
time the credit was earned.
                                                                            TAXPAYER ASSISTANCE
            SPECIFIC LINE INSTRUCTIONS
                                                                For assistance in completing this schedule contact the 
Complete all the requested information at the top of            Kansas Department of Revenue:
Schedule K-55.
                                                                            Taxpayer Assistance Center
PART A – COMPUTATION OF CREDIT FOR THIS YEAR’S INVESTMENT                      Scott Office Building
                                                                                 120 SE 10th Ave
LINE 1 – Enter the total amount of cash investment made 
                                                                                 PO Box 750260
this tax year.
                                                                               Topeka KS 66699-0260
LINE 2 – This percentage determines the maximum credit 
allowable as a result of the investment made during this                       Phone: 785-368-8222
tax year. Do not make an entry on this line.                                     Fax:  785-291-3614
LINE 3 – Multiply line 1 by line 2 and enter the result. This   Additional copies of this credit schedule and other tax 
is the maximum credit allowable.                                forms are available from our website at: ksrevenue.org