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Posted by Phil Marti on April 2, 2008, 6:35 pm
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"jayhawks71" wrote:
> Any suggestions regarding how to resolve or escalate this issue?
Sorry, I have no recollection of the thread.
If you are a nonresident of Kansas for the entire year and don't carry on
any business activities in Kansas during that year, interest paid on a
personal account is not Kansas source income regardless of where the
institution paying it is located.
Since this sounds prospective, IOW, Kansas isn't claiming you owe them
something from an unfiled return, just don't file a Kansas return and be
done with it.
--
Phil Marti
Clarksburg, MD
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Posted by Bob Sandler on April 2, 2008, 9:41 pm
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"jayhawks71" wrote:
>Any suggestions regarding how to resolve or escalate this issue?
>The amount of tax due is small, . . .
>I am hoping that someone could offer a suggestion regarding
>how to proceed further.
What is the issue that has to be resolved? Why is any amount
of tax due? Why do you have to "proceed further"? In your
original post (on Feb. 7) you only asked whether you have to
file in Kansas, and whether you would owe Kansas tax.
Several experts here told you that the answer to both
questions is no. That should be the end of the matter. As
Phil Marti said, "just don't file a Kansas return and be
done with it."
Is there something else going on? Did the Kansas Department
of Revenue contact you for some reason? Why were you even
talking to them?
>I spoke with Kansas today and they INSIST that the interest
>earned on a credit union account is "Kansas source"
>because it "was from Kansas."
If speaking "with Kansas" is anything like calling the IRS
on the phone, there is no assurance that the person you talk
to knows what she is talking about. In this case, it seems
that she didn't. What the paragraph that you quoted from the
instructions means, of course, is that if you are a
nonresident of Kansas, the interest from your credit union
account in Kansas is not Kansas source income to you. That's
exactly what the experts in this group told you.
>for whatever reason she could not find what I was referring
>to in spite of giving an exact page number.
That doesn't give me a lot of confidence in her abilities. I
found it without being given the page number (page 24, left
column, a little more than halfway down). The page numbering
in the PDF does not match the numbers printed on the pages.
Maybe that's the problem.
Bob Sandler
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
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Posted by BeanTownSteve on April 3, 2008, 6:29 pm
Please log in for more thread options <SNIP>
>
What the paragraph that you quoted from the
> instructions means, of course, is that if you are a
> nonresident of Kansas, the interest from your credit union
> account in Kansas is not Kansas source income to you. That's
> exactly what the experts in this group told you.
>
Oh, I almost wonder and hesitate. Does it change the matter since
it's a
credit union rather than a bank and he's an "owner" in the amount of
his cu shares?
Could it be that this might be construed as a Kansas Business
income
rather than interest?? It seems pretty out there to me but.....
> <<SNIP>>
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Katie on April 6, 2008, 11:17 pm
Please log in for more thread options > <SNIP>
>
> What the paragraph that you quoted from the> instructions means, of course,
is that if you are a
> > nonresident of Kansas, the interest from your credit union
> > account in Kansas is not Kansas source income to you. That's
> > exactly what the experts in this group told you.
>
> Oh, I almost wonder and hesitate. Does it change the matter since
> it's a
> credit union rather than a bank and he's an "owner" in the amount of
> his cu shares?
> Could it be that this might be construed as a Kansas Business
> income
> rather than interest?? It seems pretty out there to me but.....
No, It's income from an intangible asset (the CU account) and has its
source at the residence of the owner. Not taxable by Kansas.
Doesn't matter whether it is called interest or a dividend; the result
is the same.
Katie in San Diego
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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