Form 720 - Kentucky Corporation Income Tax Return

Kentucky Corporation Account Number

720

__ __ __ __ __ __

*0600010200*

41A720

ENTUCKY

ORPORATION

2006

Department of Revenue

NCOME

ETURN

Taxable period

(Pass-Through Corporations Use Applicable Forms)

beginning ______________ , 2006, and ending ______________ , 200___ .

__ __ / __ __

If filing consolidated,

Federal

Taxable Year Ending

__ __ – __ __ __ __ __ __ __

check the appropriate

Identification Number

Mo.

Yr.

box. See instructions.

Name of Corporation or Affiliated Group (Place preaddressed label here; otherwise print or type.)

State and Date of Incorporation

Consolidated

Number and Street

Principal Business Activity in KY

Election

Made prior

to 2005, attach

City

State

ZIP Code

Telephone Number

NAICS Code Number

Form 722.

(Relating to Kentucky Activity)

(See )

Mandatory

Name of Common Parent

Kentucky Corporation Account Number

Nexus

__ __ __ __ __ __

E Check if applicable:

Final return (attach explanation)

No packet required for 2007

Initial return

Short-period return (attach explanation)

Change of name

Change of address

PART I—TAXABLE INCOME COMPUTATION

PART II—TAX COMPARISON

1. Federal taxable income (Form 1120, line 28;

1. Income tax from Part I (multiply line 24

Form 1120A, line 24) ............................................

by rates) (see instructions) ...............................

ADDITIONS:

2. Interest income (state and local obligations) .....

2. Alternative minimum (AMC) ............................

PART III—TAX COMPUTATION

3. State taxes based on net/gross income .............

4. Depreciation adjustment .....................................

1. Tax liability (Part II, greater of line 1, line 2

5. Deductions attributable to nontaxable income ..

or $175 minimum) .............................................

6. Related party expenses .......................................

2. Recycling/composting equipment tax credit

7. Pass-through loss(es) from other corporation(s)

recapture ..............................................................

subject to Kentucky corporation income tax .......

3. Total (add lines 1 and 2) (if $175 minimum,

8. Domestic production activities deduction ..........

skip line 4 and enter on line 5) ..........................

9. Other (attach schedule) .......................................

4. Total credits ........................................................

10. Total (add lines 1 through 9) ...............................

5. Net tax liability (line 3 less line 4)

SUBTRACTIONS:

($175 minimum) .................................................

11. Interest income (U.S. obligations) ......................

6. Estimated tax payments ....................................

12. Dividend income ..................................................

Check if Form 2220-K attached

13. Federal work opportunity credit .........................

7. Extension tax payment ......................................

14. Depreciation adjustment .....................................

8. Prior year's credit ...............................................

15. Pass-through income from other corporation(s)

9. Tax due (line 5 less lines 6 through 8) ..............

subject to Kentucky corporation income tax .......

10. Tax overpayment (lines 6 through 8

16. Other (attach schedule) .......................................

less line 5) ...............................................................

17. Net income (line 10 less lines 11 through 16) ....

11. Credited to 2007 .................................................

18. Current net operating loss adjustment

12. Amount to be refunded (line 10 less line 11) ...

(mandatory nexus only) ........................................

➤ Federal Form 1120, pages 1, 2 and 4, or 1120A,

19. Kentucky net income (add lines 17 and 18) .......

pages 1 and 2, and any supporting schedules

20. Taxable net income

must be attached.

(attach Schedule A if applicable) ........................

21. Net operating loss deduction (NOLD) ................

22. Taxable net income after NOLD

Make check(s) payable to:

Kentucky State Treasurer

(line 20 less line 21) .............................................

23. Kentucky domestic production activities

Mail return with payment to: Kentucky Department of Revenue

deduction (KDPAD) ..............................................

Frankfort, Kentucky 40620

24. Taxable net income after KDPAD .......................

TAX PAYMENT SUMMARY (Round to Nearest Dollar)

TAX (check applicable box)

Income

AMC Gross Receipts

AMC Gross Profits

Minimum $175

Tax ..............................................................................................................................................................

Penalty ........................................................................................................................................................

Interest .......................................................................................................................................................

TOTAL (Including Penalty and Interest) ............................................................................................... ➤