Form 720s - Kentucky S Corporation Income Tax Return - 2006
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4C
Kentucky Corporation Account Number
720S
__ __ __ __ __ __
*0600010256*
41A720S
K
S C
ENTUCKY
ORPORATION
Department of Revenue
2006
I
T
R
NCOME
AX
ETURN
Taxable period
➤ ➤ ➤ ➤ ➤
See separate instructions.
beginning ______________ , 2006, and ending ______________ , 200___ .
A
Number of
__ __ / __ __
B
Federal
Taxable Year Ending
Shareholders
__ __ – __ __ __ __ __ __ __
Identification Number
Mo.
Yr.
(Attach K-1s)
Name of S Corporation (Place preaddressed label here; otherwise print or type.)
State and Date of Incorporation
➤
D
Number of
QSSSs Included
Principal Business Activity in KY
in This Return
Number and Street
(Attach Schedule)
➤
NAICS Code Number
(Relating to Kentucky Activity)
E
Separate Return
City
State
ZIP Code
Telephone Number
(See )
Nexus
Consolidation
F Check if applicable:
LLC
Initial return
Final return (attach explanation)
Amended return
Short-period return (attach explanation)
Change of name
Change of address
No packet required for 2007
PART I—TAXABLE INCOME COMPUTATION
PART II—TAX COMPARISON
1. Kentucky ordinary income (loss)
1. Regular income tax (see instructions) ..................
(from Schedule K, Section I, line 1) ....................
2. Net income (loss) from rental real estate
2. Schedule AMC, Section D, line 1 ......................
activities ...............................................................
PART III—TAX COMPUTATION
3. Net income (loss) from other rental activities ....
4. Interest income ....................................................
1. Tax liability (Part II, greater of line 1,
5. Royalty income ....................................................
line 2 or $175 minimum) .....................................
6. Net capital gain from Schedule K, Section I .......
ADDITIONS
7. Other portfolio income (loss) ..............................
2. Recycling/composting equipment
8. Section 1231 net gain (loss) (other than due
tax credit recapture ............................................
to casualty or theft) ..............................................
3. Total (add lines 1 and 2) ....................................
9. Other income (loss) .............................................
SUBTRACTIONS
10. Total additions (add lines 1 through 9) ...............
4. Total tax credits (Schedule TCS) .......................
11. Total from Line 11—Worksheet on page 2 ........
5. Net tax liability (greater of line 3 less
12. Total income after adjustments
line 4 or $175) .....................................................
(add lines 10 and 11) ............................................
6. Estimated tax payments ....................................
13. Charitable contributions (see instructions) ........
Check if Form 2220-K attached
14. Section 179 expense deduction
7. Extension tax payment ......................................
(Kentucky Form 4562) ..........................................
8. Prior year's tax credit .........................................
15. Deductions related to portfolio income
9. Tax due ...............................................................
(loss) .....................................................................
10. Tax overpayment ...............................................
16. Other deductions .................................................
11. Credited to 2007 .................................................
17. Section 59(e)(2) expenses ...................................
12. Amount to be refunded .....................................
18. Total deductions (add lines 13
through 17) ...........................................................
➤
Federal Form 1120S, pages 1, 2, 3 and 4, and
19. Oil and gas depletion ...........................................
any supporting schedules must be attached.
20. Other adjustments (KRS 141.010(13)) ................
21. Total deductions (add lines 18 through 20) ........
22. Net income (loss) (line 12 less line 21) ...............
23. Current net operating loss adjustment ...............
24. Income (loss) after NOL limitation
Make check(s) payable to:
Kentucky State Treasurer
(add lines 22 and 23) ............................................
25. Net income (loss) (amount from
Mail return with payment to: Kentucky Department of Revenue
line 24 or Schedule A) .........................................
Frankfort, Kentucky 40620
26. Kentucky domestic production activities
deduction (KDPAD) ..............................................
27. Taxable net income (loss) (line 25 less line 26) .
Income
AMC Gross Receipts
AMC Gross Profits
Minimum $175
Tax
Interest
Penalty
TOTAL (Including Penalty and Interest)
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