Kan. Stat. Ann. § 79-4601
Private foundation; corporation as; acts prohibited
Kansas · Kansas Statutes Annotated Chapter 79 — Taxation · Status: effective
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- Kan. Stat. Ann. § 79-4601, Private foundation; corporation as; acts prohibited, Kansas, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2619019
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No corporation which is a "private foundation" as defined in § 509 (a) of the internal revenue code of 1954, shall
(a) engage in any act of "self-dealing" (as defined in § 4941 (d) of the internal revenue code of 1954), which would give rise to any liability for the tax imposed by § 4941 (a) of the internal revenue code of 1954;
(b) retain any "excess business holdings" (as defined in § 4943 (c) of the internal revenue code of 1954), which would give rise to any liability for the tax imposed by § 4943 (a) of the internal revenue code of 1954;
(c) make any investment which would jeopardize the carrying out of any of its exempt purposes, within the meaning of § 4944 of the internal revenue code of 1954, so as to give rise to any liability for the tax imposed by § 4944 (a) of the internal revenue code of 1954; and
(d) make any "taxable expenditures" (as defined in § 4945 (d) of the internal revenue code of 1954) which would give rise to any liability for the tax imposed by § 4945 (a) of the internal revenue code of 1954.