I am hoping someone can shed some light on the following:

I used to live in Kansas and had a credit union account there. I moved
from Kansas to Missouri about 4 years ago (2004), but maintained the
credit union account in Kansas. The account earns interest (a few
hundred dollars a year). So, I have two questions: 1) Do I have to
file a tax return in Kansas for the interest? 2) If yes, would I end
up owing Kansas tax on that interest even though I claimed the
interest on my MO tax.

Thank you in advance for any knowledgeable response.

"jayhawks71" gmail.com> wrote

Nope.

It is taxable to Missouri though.

--
Paul A. Thomas, CPA
Athens, Georgia

On Feb 6, 10:43 pm, jayhawks71 gmail.com> wrote:

Under Kansas law, a nonresident is subject to tax on income from
intangibles (such as bank accounts) only to the extent that the
intangible is employed in a business, trade or profession in Kansas.
Kan. Stat. Ann. §79-32,109(h)(8) . Some states describe this
distinction as a "business situs" of the intangible.

What the paragraph that you quoted from the

Oh, I almost wonder and hesitate. Does it change the matter since
it's a
credit union rather than a bank and he's an "owner" in the amount of
his cu shares?
Could it be that this might be construed as a Kansas Business
income
rather than interest?? It seems pretty out there to me but.....

On Apr 3, 3:29 pm, BeanTownSteve gmail.com> wrote:

No, It's income from an intangible asset (the CU account) and has its
source at the residence of the owner. Not taxable by Kansas.
Doesn't matter whether it is called interest or a dividend; the result
is the same.