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Taxes

Business Formation Fees

Corporate Franchise Taxes

Income Taxes - Corporate

Income Taxes - Individual

Property Taxes

Sales & Use Taxes

Unemployment Insurance

Workers' Compensation

Incentives

Advanced Energy

Enterprise Zones

Financing Programs

Foreign Trade Zones

Income Tax Credits

Int'l Trade Incentives

Life Sciences and R&D

Property Tax Exemptions

Sales & Use Tax Exemptions

Training Programs

Utility Incentives

Venture Capital

Tax & Incentive Profile

Corporate Franchise Taxes

Kansas

Corporations in Kansas are assessed an annual franchise tax at the rate of 0.03125 percent in 2010.  In addition, an annual franchise fee of $55 must be paid to the Secretary of State’s office.  No tax shall be less than $40 or more than $5,000.

Shareholders’ equity equals the sum of paid-in capital stock less treasury stock, capital paid-in excess of par, and retained earnings.  Shareholders' equity equals the sum of: paid-in capital stock less treasury stock; capital paid-in, in excess of par; and retained earnings. For multi-state corporations, the same three-factor and two-factor formulas used to calculate corporate income tax liability are used. The three-factor formula is based on sales, property, and dollar payroll attributable to the Kansas facility, while the two-factor formula uses only the sales and property proportions.

The franchise tax is assessed by the Kansas Department of Revenue.

Missouri

The Missouri franchise tax rate is 1/30 of 1% (.000333).  The franchise tax is based on the value of total assets or the par value of issued and outstanding capital stock, whichever is greater. Capital stock without a par value is valued at $5 per share or at its actual value, whichever is greater. Corporations with $1,000,000 or less of assets wholly in Missouri or apportioned to Missouri are not taxed. However, all corporations incorporated, qualified, or engaged in business in Missouri are required to file a franchise tax return. Not-for-profit corporations and express and insurance companies paying an annual tax on gross receipts or premium receipts in Missouri are examples of corporations exempt from filing and paying franchise tax. Multi-state corporations may apportion their assets based on a three factor method of accounts receivables, inventories, and land & fixed assets.

The franchise tax due may be offset by applying applicable tax credits.

The return for Missouri's franchise tax is filed with the Department of Revenue.

 

DEFINING THE GREATER KC METRO AREA

Kansas City is a Missouri/Kansas bi-state metropolitan area. All statistical references made to Kansas City Metropolitan Statistical Area (MSA) include the counties of Cass, Clay, Clinton, Jackson, Lafayette, Platte and Ray in Missouri, and Johnson, Leavenworth, Miami and Wyandotte counties in Kansas. The greater Kansas City area also includes the adjoining Lawrence, KS, St. Joseph, MO, and Topeka, KS MSAs, as well as the Atchison, KS, Chillicothe, MO, Ottawa, KS, and Warrensburg, MO areas.