79-3272. Same; allocation and apportionment. Any taxpayer having income from business activity which is taxable both within and without this state, other than activity as a financial organization or the rendering of purely personal services by an individual, shall allocate and apportion net income as provided in this act.
History: L. 1963, ch. 485, § 2; L. 1980, ch. 318, § 1; July 1.
CASE ANNOTATIONS
1. Cited in action challenging order requiring multistate corporation to apportion net business income under separate accounting method. Amoco Production Co. v. Armold, Director of Taxation, 213 Kan. 636, 640, 645, 518 P.2d 453.
2. Under transactional test, borrowing money to defend against a hostile takeover is not an expense in regular course of business. In re Tax Appeal of The Kroger Co., 270 Kan. 148, 12 P.3d 889 (2000).
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