Kansas Statutes 79-3285. Same; sales factor
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Kansas Statutes 79-3285
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Sales: means , except as otherwise provided in Kan. See Kansas Statutes 79-3271
- 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
The sales factor is a fraction, the numerator of which is the total sales of the taxpayer in this state during the tax period, and the denominator of which is the total sales of the taxpayer everywhere during the tax period. For taxable years commencing after December 31, 2007, in the case of sales of business assets, other than sales of tangible personal property sold in the ordinary course of the taxpayer’s trade or business, only the net gain from such sales shall be included in the sales factor.