Form 41a720 - Kentucky Corporation Income And License Tax Return - 2004
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1
2Kentucky Corporation Income
720
2004
and License Tax Return
41A720
Taxable Year Ending
Department of Revenue
(S Corporations Use Form 720S)
__ __ / __ __
See separate instructions.
Mo.
Yr.
A
Taxable period beginning __________________ , 2004, and ending __________________ , 200___ .
Check applicable box(es).
Income Tax Return
B
C
Federal
Kentucky
__ __ – __ __ __ __ __ __ __
__ __ __ __ __ __
Identification Number
Account Number
Separate entity
Name of Corporation or Affiliated Group (Place preaddressed label here; otherwise print or type.)
State and Date of Incorporation
Consolidated
Attach Form 722
Number and Street
Principal Business Activity in KY
Return not required
Enter code
City
State
ZIP Code
Telephone Number
Kentucky Business Code No.
License Tax Return
Return not required
D
Name of Common Parent
Kentucky Account Number
Federal Business Code Number
Enter code
__ __ __ __ __ __
E Check if applicable:
LLC
Initial return
Final return (attach explanation)
Short-period return (attach explanation)
Change of name
Change of address
PART I—TAXABLE INCOME COMPUTATION
17. Income tax overpayment ....................................
1. Federal taxable income (Form 1120, line 28;
18. Credited to 2004 license tax ..............................
Form 1120A, line 24) ............................................
19. Credited to 2005 .................................................
ADDITIONS:
20. Amount to be refunded ..................................
PART III—LICENSE TAX COMPUTATION
2. Interest income (state and local obligations) .....
3. State taxes based on net/gross income .............
1. Capital stock .......................................................
4. Depreciation adjustment .....................................
2. Computation of surplus
(attach schedules for a & b)
Caution: An election to
file a consolidated
5. Deductions attributable to nontaxable income .
(a) Total assets ..........
income tax return does
6. Other (attach schedule) .......................................
(b) Less debt .............. (
)
not apply for license
7. Total (add lines 1 through 6) ..............................
(c) Net assets .............
tax. See page 6 of
instructions.
SUBTRACTIONS:
(d) Less capital stock . (
)
8. Interest income (U.S. obligations) ......................
3. Surplus (line 2c minus 2d) ................................
9. Dividend income ..................................................
4. Advances by affiliated companies ....................
10. Federal work opportunity credit .........................
5. Intercompany accounts .....................................
11. Depreciation adjustment .....................................
6. Borrowed moneys .............................................
12. Other (attach schedule) .......................................
7. Less moneys borrowed for inventory ..............
(
)
13. Net income (line 7 less lines 8 through 12) .......
8. Less KRS 136.071 deduction (bank holding
14. Taxable net income
companies only) (see instructions) ....................
(
)
(attach Sch. A if applicable) ..
15. Net operating loss deduction .............................
9. Total capital (combine lines 1 and 3 through 8)
16. Taxable net income (after NOLD) .......................
10. Apportionment fraction
%
PART II—INCOME TAX COMPUTATION
(attach Sch. A if applicable) ................................
1. Income tax liability (see instructions) .................
11. Capital employed subject to tax ........................
2. Economic development tax credits ....................
12. Tax before credit (line 11 multiplied by .0021) .
3. Unemployment tax credit ...................................
13. License tax credit (maximum $490) .................
4. Recycling/composting equipment tax credit .....
14. License tax liability (minimum $30) .................
5. Coal conversion tax credit ..................................
15. Kentucky investment fund tax credit ................
6. Enterprise zone tax credit (see instructions) .....
16. KIRA tax credit (see instructions) .....................
7. Kentucky investment fund tax credit ..................
17. Coal incentive tax credit ....................................
8. Coal incentive tax credit ......................................
18. Reinvestment in existing industry tax credit ...
9. Qualified research facility tax credit ...................
19. Net license tax liability ......................................
10. GED incentive tax credit ......................................
20. Extension payment ............................................
11. Net income tax liability .......................................
21. Income tax overpayment (Part II, line 18) ........
12. Estimated payments ............................................
22. License tax due ..................................................
13. Extension payment ..............................................
23. License tax overpayment ..................................
14. Prior year's credit ................................................
24. Credited to 2004 income tax .............................
15. License tax overpayment (Part III, line 24) .........
25. Credited to 2005 .................................................
16. Income tax due ....................................................
26. Amount to be refunded ....................................
TAX PAYMENT SUMMARY
(Round to Nearest Dollar) Make check(s) payable to Kentucky State Treasurer and mail return with payment to
Kentucky Department of Revenue, Frankfort, Kentucky 40620.
Income
Penalty
No packet required for 2005.
License
Interest
TOTAL (Including Penalty and Interest) ........
Federal Form 1120, pages 1 and 4, or 1120A, pages 1 and 2, and any supporting schedules must be attached.
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