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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

Life Sciences and R&D Incentives

INFORMATION FOR BOTH KANSAS AND MISSOURI IS PRESENTED BELOW

Kansas

The Kansas Economic Growth Act of 2004 established a funding engine that will generate more than $580 million over the next 10 to 15 years for the purpose of growing the bioscience industry in the state of Kansas. Bioscience includes biotechnology and life sciences.

The Kansas Bioscience Authority is looking to selectively invest in existing Kansas bioscience companies, progressive out-of-state bioscience companies seeking to relocate, commercialization-promising university-related bioscience projects, and entrepreneurial start-up companies in the bioscience field.  The Bioscience Authority is initiating programs that can be used to recruit world-class scholars, fund equipment and lab space for research, and facilitate the commercialization of bioscience discoveries.

The incentive programs are governed by the Kansas Bioscience Authority, which will provide oversight to the efforts. The following are the financing programs available to bioscience companies locating or expanding to the state of Kansas.

• Kansas Bioscience Research Matching Funds Program: allows the Authority to use its resources to match research dollars from federal, private, and other sources of support. It will expand the state's ability to attract federal research dollars.
• Kansas Bioscience Research & Development Voucher Program: provides incentives for bioscience companies or entrepreneurs to do business in Kansas by providing them with vouchers to undertake bioscience research and development activities with bioscience research institutions. It encourages collaboration between industry and academia.
• Bioscience Tax Investment Incentive Program: allows direct payment to a bioscience company in the amount of 50% of its Kansas net operating loss, up to $1 million annually. It is useful for business attraction or retention activities.
• Bioscience Development Financing Program: allows the Bioscience Authority to certify qualifications for and approve a local community's designation of an area of real estate as a Bioscience Development District which can then use future property tax proceeds to repay indebtedness that is incurred for the development. It encourages bioscience companies to expand and locate facilities in Kansas.
• Kansas Bioscience Scholar Program: allows the recruitment of an estimated 25 eminent scholars and 35 rising star scholars to advance the state's research expertise in the biosciences.
• Bioscience Research Facilities Program: allows funding for the construction and on going maintenance of bioscience research facilities. These facilities can be developed in collaboration with communities and universities with the goal of adding enough state-of-the-art bioscience research space.

Research and Development Tax Credit

The Kansas Research and Development Credit allows a taxpayer who makes expenditures in research and development activities in Kansas to claim an income tax credit.
The credit is 6.5% of the difference between the actual qualified research and development expenses for the year and the average of the actual expenditures made during the year and the two previous years. The credit allowed in any one tax year is limited to 25% of the credit plus any carry forward. Any remaining unused credit may be carried forward in 25% increments until the total amount is used.

Missouri

In order to induce existing businesses to increase their research efforts, businesses are permitted to claim a tax credit equal to 6.5% of the excess of qualified research expenses during the tax year, over the average amount of qualified research expenses incurred in Missouri during the preceding three tax years. The credit may be carried forward for up to five additional years.

 

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.