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79-3281. Same; property owned or rented, value; net annual rate. Property owned by the taxpayer is valued at its original cost. Property rented by the taxpayer is valued at eight times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from sub-rentals.

History: L. 1963, ch. 485, ยง 11; April 25.

Law Review and Bar Journal References:

"A Review of Kansas Tax Law Governing the Allocation and Apportionment of Income for Multistate Corporations Doing Business in Kansas," Ryan Pace, 37 W.L.J. 703 (1998).

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, 518 P.2d 453.


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