17-7501.   Definitions.As used in this act:

      (a)   "Domestic corporation" means any corporation organized under thelaws of this state, irrespective of whether such corporation is organizedfor profit.

      (b)   "Foreign corporation" means any corporation organized under the lawsof any jurisdiction other than this state.

      (c)   "Articles of incorporation" means the original articles ofincorporation filed to create a corporation, but such term also includesthe charter, articles of association and any other instrument by whatevername known under which a corporation has been or may be lawfully formed.

      (d)   "Shareholder's equity" means the sum of: (1) Paid-in capital stock,except that paid-in capital stock shall not include any capital stockissued by a corporation and reacquired by such corporation through gift,purchase or otherwise and available for resale or retirement; (2) capitalpaid in, in excess of par; and (3) retained earnings, except that anymoneys which have been allocated and are payable to the members of anycorporation which is organized as a cooperative association or societyshall not be included as part of the retained earnings of such corporationfor the purpose of this act.

      (e)   "Shareholder's equity attributable to Kansas" means the shareholder'sequity of a corporation multiplied by a percentage which is the average of thefollowing three percentages: (1) The average value of the corporation's realand tangible personal property owned or rented and used in this state duringthe next preceding tax period divided by the average total value of thecorporation's real and tangible personal property owned or rented and usedduring the next preceding tax period; (2) the total amount ofcompensation paid by the corporation in this state during the nextpreceding tax period divided by the total amount of compensation paideverywhere by the corporation during the next preceding tax period; and (3)the total sales of the corporation in this state during the next preceding taxperiod divided by the total sales of the corporation everywhere during the nextpreceding tax period. If a corporation has no property or activity mentioned inone of the above factors, the appropriate percentage for that factor is 100%.

      (f)   "Tax period" means a corporation's taxable year under the Kansasincome tax act.

      History:   L. 1972, ch. 54, § 1; L. 1973, ch. 101, § 1;L. 1991, ch. 76, § 3; July 1.