Schedule K-42 Assistive Technology Contribution Credit - Kansas

What Is Schedule K-42?

This is a legal form that was released by the Kansas Department of Revenue - a government authority operating within Kansas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the Schedule K-42 Assistive Technology Contribution Credit?
A: The Schedule K-42 Assistive Technology Contribution Credit is a tax credit offered by the state of Kansas for individuals or businesses who make contributions to qualified organizations that provide assistive technology devices or services.

Q: Who is eligible for the Schedule K-42 Assistive Technology Contribution Credit?
A: Both individuals and businesses are eligible for the Schedule K-42 Assistive Technology Contribution Credit in Kansas.

Q: What is considered as 'assistive technology'?
A: Assistive technology refers to devices, equipment, or services that help individuals with disabilities to perform daily tasks or improve their quality of life. Examples include wheelchairs, hearing aids, and communication devices.

Q: How much is the credit?
A: The credit is equal to 50% of the contributions made to qualified organizations, up to a maximum credit of $500,000 for a business or $250,000 for an individual.

Q: How do I claim the credit?
A: To claim the Schedule K-42 Assistive Technology Contribution Credit, individuals must complete Schedule K-42 and include it with their Kansas income tax return. Businesses must complete the appropriate schedule on their income tax return.

Q: Are there any restrictions on claiming the credit?
A: Yes, there are certain limitations and restrictions on claiming the Schedule K-42 Assistive Technology Contribution Credit. It is recommended to consult the official tax forms and instructions or seek professional advice for specific details.