Waste Heat Utilization System Income Tax Deduction (Corporate)

Summary

A taxpayer may claim a deduction from Kansas adjusted gross income with respect to the amortization of the amortizable costs of a waste heat utilization system based upon a period of 10 years. The amortization deduction is 55% of the amortizable costs of the system for the first taxable year in which such system is in operation and 5% of the amortizable costs of such system for each of the next 9 taxable years. The tax deduction is available for all taxable years commencing after December 31, 2006.

Waste heat utilization system means facilities and equipment for the recovery of waste heat generated in the process of generating electricity and the use of such heat to generate additional electricity or to produce fuels from renewable energy resources or technologies. “Renewable energy resources or technologies” include wind, solar, photovoltaic, biomass, hydropower, geothermal and landfill gas resources or technologies.