Wichita Kansas Form 6765 2025

Wichita Kansas Form 6765: What You Should Know

The Kansas legislation that was passed in 2025 will take effect next year. Form 6868 — Research and Development Credit Federal Tax Credit for Expenses related to Noncontributing Entities — Taxpayer Information The Internal Revenue Code (IRC) authorizes the Internal Revenue Service (I.R.S.) to make certain tax-exempt or tax-prohibited donations to certain nonprofit organizations for the purpose of establishing and conducting charitable or educational purposes. IRC Section 170(c)(1)(A) allows charitable organizations to make a 15,000 tax-exempt contribution per year to any qualified group of persons. The Department of State determines the amount of the annual credit. Generally, the amount of the credit is equal to the amount by which qualified contributions under section 170(c)(1)(A) exceed the contributions made by the charitable organization to a qualified group of persons (i.e., persons or qualifying partnerships described in (B)(ii)). Section 170(c)(1)(A)(ii) provides in pertinent part that no credit for donations made on behalf of, or paid out of, a qualified group of persons, as described in (B)(i), shall be allowed where, for any taxable year beginning after 2017, either: In the aggregate, contributions made during the taxable year by the organization to qualified groups of people that include each of the following people is less than 75 percent of the total amount provided by the organization to such groups of people for the immediately preceding taxable year, Except for an organization described in (B)(ii) described in section 170(c)(1)(B)(i), no credit shall be allowed under subparagraph (A)(ii) for any taxable year beginning after 2025 for a contribution described in that subparagraph that was made on behalf of a person described in (B)(i) for any taxable year beginning after 2016. The contribution must be made on paper at a designated location and must include a statement to the effect that the contribution is a grant of a credit, which may be claimed by the eligible person for any taxable year beginning after the first day of that taxable year. The Department will determine the amount of the annual credit. No credit shall be allowed under subparagraph (A)(ii) for any taxable year beginning after 2025.

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