City Net Profit License Fee Return Form - City Of Bowling Green, Kentucky Page 2
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2NET PROFIT LICENSE FEE RETURN INSTRUCTIONS
GENERAL - In the case of an individual, partnership, association, corporation, fiduciary or other entity engaged in
the conduct or operation of any business, profession or enterprise, there is imposed an annual license fee being the
greater of thirty dollars ($30.00) or one and one-half (1½%) percent of the net profits of such business, profession or
other enterprise if and to the extent of business conducted in or derived from activity inside the City limits.
WHO SHOULD FILE - The Net Profit License Fee Return is to be filed by any entity having receipts and/or
payroll within the City Limits of Bowling Green. The return also must be filed to pay occupational license fee due
on wages earned in the City which did not have the license fee withheld. Non-employee earnings qualify as subject
income. Receipts from the rental of real estate are required to be reported for all commercial property and on
residential property if more than two (2) residential units are held for rental.
WHEN TO FILE - The Net Profit License Fee Return must be filed on or before April 15 if Licensee is on a
calendar year. Fiscal year returns are due 105 days after the Federal Tax Year end. If due date falls on Saturday,
Sunday or legal holiday the return may be filed on the next succeeding day which is not a Saturday, Sunday or legal
holiday.
EXTENSION REQUESTS - If an extension of time for filing is necessary, a copy of your federal extension must
be submitted on or before the due date of the return. The extension must be accompanied by payment equivalent to
90% of the fee due or an amount equal to the total liability for the most recent year. The amount paid with the
extension cannot be less than the minimum $30.00 fee. Regardless of the number of extensions approved, all license
fees remaining unpaid after they become due shall bear interest at the rate of 1½% per month or fraction of a month.
All license fees remaining unpaid for thirty (30) days after the original due date, or approved extension date,
whichever shall be later, shall be subject to a ten (10%) percent penalty of the unpaid license fees or twenty-five
($25.00) dollars whichever shall be greater.
SECTION B
ITEMS NOT DEDUCTIBLE
ITEMS NOT SUBJECT
21. State and Local Taxes based on Income ____________
27. Interest Income
____________
____________
28. Dividend Income
____________
22. Capital Loss
____________
____________
23. Net Operating Loss Carryover
____________
____________
24. Partners Guaranteed Payments
____________
29. Net Capital Gain
____________
____________
30. Allowable Pass Through Expenses
____________
25. Other (specify)
____________
31. Other (specify)
____________
(Attach separate schedule if necessary) ____________
(Attach separate schedule if necessary) ____________
26. TOTAL ADDITIONS
____________
32. TOTAL DEDUCTIONS
____________
(Enter on Line 6)
(Enter on Line 8)
SECTION C
Section C (Lines 33-36) must be completed by licensees with gross income and/or wages, salaries and other
compensation, both within and without the city limits of Bowling Green. Completion of this section allocates the
proportionate share of total business activity attributable to Bowling Green. If gross income or payroll exists, but
not within the City of Bowling Green, a zero percentage should be added in Column C when calculating the
Average Percentage (Line 36).
Col. A
Col. B
Col. C
ALLOCATION FACTORS
Bowling Green
Total
Percentage
33. Gross Receipts/Sales . . . . . . . . . . . . . . . . . . . . . . $________________ $_______________
_____________%
(If not applicable write N/A in column C)
34. Total Wages, Salaries & Other Compensation . . $________________ $_______________
_____________%
(If not applicable write N/A in column C)
35. Total Percents (Line 33 Col. C plus Line 34 Col. C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . _____________%
36. Average Percentage (Line 35 Divided by number of applicable percents) Enter on Line 10 . . . . . . _____________%
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