I recently moved from the state of Kansas to the state of Colorado mid-year and moved my S-Corp with me. I resided in Kansas thru June and in Colorado from July thru December. Do I complete a Business tax return for both states? If so, is it correct to assume that I report 1/2 of the income/expenses in one state and the other half in the second state? Thanks
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yes both states
for most state s-corp returns income/expenses are reported for each
then there is a 1,2 or 3 factor apportionment to allocate income
1) they are sales in that state
2) wages paid in that state
3) and a property factor
yu may find it strange but because of how income is allocated, more or less than 100% of the federal income will be reported for the states
Thanks. However, in starting with my Kansas return, I don't see where there is a prompt for that apportionment. Will you please point out where I can find it within the Kansas return?
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