Schedule Kida-Sp - Tax Computation Schedule (For A Kida Project Of A Pass-Through Entity)

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SCHEDULE KIDA-SP
*0800010243*
For taxable year ended
__ __ / __ __
41A720-S22 (10-08)
Mo.
Yr.
Commonwealth of Kentucky
T
C
S
AX
OMPUTATION
CHEDULE
DEPARTMENT OF REVENUE
KIDA
(FOR A
PROJECT OF A PASS-THROUGH ENTITY)
➤ Attach this schedule to
KRS 154.28-010 to 130
Form 720S, Form 765 or Form 765-GP .
Name of Pass-through Entity
Federal Identification Number
Kentucky Corporation/LLET
Account Number (if applicable)
__ __ __ __ __ __
__ __ __ __ __ __ __ __ __
Location of Project
Date KIDA Financing/Tax Incentive
Economic Development
Agreement was Executed
Project Number
or Activation Date
/
/
City
County
Mo.
Day
Yr.
PART I—Computation of KIDA Tax Credit and Tax Due
1. Kentucky taxable income on KIDA project (see instructions) .............................................................
1
2. Net operating loss deduction on KIDA project ....................................................................................
2 (
)
3. Kentucky taxable income on KIDA project after net operating loss deduction
(line 1 less line 2) ....................................................................................................................................
3
4. Income tax on amount from line 3:
Taxable Net Income
Rate
Tax
(a) First $3,000 ........................
x
2%
(b) Next $1,000 ........................
x
3%
(c) Next $1,000 ........................
x
4%
(d) Next $3,000 ........................
x
5%
(e) Over $8,000 up to $75,000
x
5.8%
(f) Over $75,000.......................
x
6%
(g) Total income tax liability of KIDA project (add lines 4(a) through 4(f)) ....................................... 4(g)
5. LLET on KIDA project (see instructions). Not applicable for Form 765-GP ........................................
5
6. LLET credit allowed (line 5 less $175, but not more than line 4(g)). Not applicable for
Form 765-GP ...........................................................................................................................................
6
7. Total tax on KIDA project (add lines 4(g) and 5 less line 6) .................................................................
7
8. Limitation (Column D from Schedule KIDA-T) .....................................................................................
8
9. Enter the lesser of line 7 or line 8 as either:
(a) KIDA tax credit ................................................................................................................................. 9(a)
or
(b) Estimated tax payment and complete election in Part II .............................................................. 9(b)
10. If line 7 is larger than line 9(a) or 9(b), enter difference here as a liability of the
pass-through entity. (Any pass-through entity reflecting a tax liability, complete
Tax Payment Summary below and remit payment.) ........................................................................... 10
PART II—Estimated Tax Election
In accordance with KRS 141.400(4)(b),
Name of Pass-through Entity
elects for the taxable year ended
, in lieu of the
tax credit, to have an amount equal
KIDA
to the lesser of line 7 or line 8 above applied as an estimated tax payment.
➤
Signature of Shareholder, Partner or Member
Date
TAX PAYMENT SUMMARY (Make check payable to Kentucky State Treasurer.)
Tax
Interest
Penalty
TOTAL
Form 720S, Form 765 or Form 765-GP including this schedule must be mailed to Economic Development Tax Credits,
Corporation Income and License Tax Branch, Kentucky Department of Revenue, P .O. Box 181, Frankfort, Kentucky
40602-0181.

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