Form 720 - Kentucky Corporation Income Tax And Llet Return - 2010 Page 2

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Form 720 (2010)
Page 2
*1000020201*
Commonwealth of Kentucky
DEPARTMENT OF REVENUE
PART III—TAXABLE INCOME COMPUTATION
1. Federal taxable income (Form 1120,
14. Federal work opportunity credit ....... 14
00
line 28) ................................................
1
00
15. Depreciation adjustment ................... 15
00
ADDITIONS:
16. Other (attach Schedule O-720) .......... 16
00
2. Interest income (state and local
17. Revenue Agent Report (RAR) ............ 17
00
obligations) .........................................
2
00
18. Net income (line 11 less lines 12
3. State taxes based on net/gross
through 17) .......................................... 18
00
income ................................................
3
00
19. Current net operating loss
4. Depreciation adjustment ...................
4
00
adjustment (mandatory nexus only) .. 19
00
5. Deductions attributable to nontaxable
20. Kentucky net income (add lines 18
income .................................................
5
00
and 19) ................................................ 20
00
6. Related party expenses .....................
6
00
21. Taxable net income
7. Dividend paid deduction (REIT) ........
7
00
(attach Schedule A if applicable) ...... 21
00
8. Domestic production activities
22. Net operating loss deduction
deduction ............................................
8
00
(NOLD) ................................................ 22
00
9. Other (attach Schedule O-720) ..........
9
00
23. Taxable net income after NOLD
10. Revenue Agent Report (RAR) ............ 10
00
(line 21 less line 22) ........................... 23
00
11. Total (add lines 1 through 10) ........... 11
00
24. Kentucky domestic production
activities deduction (KDPAD) ............ 24
00
SUBTRACTIONS:
25. Taxable net income after KDPAD
12. Interest income (U.S. obligations) .... 12
00
(line 23 less line 24) ........................... 25
00
13. Dividend income ................................ 13
00
PART IV—EXPLANATION OF FINAL RETURN AND/OR SHORT–PERIOD RETURN
PART V—EXPLANATION OF AMENDED RETURN CHANGES

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