Form 41a720 - Kentucky Corporation Income And License Tax Return - 2003
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1
2Kentucky Corporation Income
720
2003
and License Tax Return
41A720
Taxable Year Ending
Revenue Cabinet
(S Corporations Use Form 720S)
__ __ / __ __
See separate instructions.
Mo.
Yr.
Taxable period beginning __________________ , 2003, and ending __________________ , 200___ .
A
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/dissolution
Final return/withdrawal
Short-period return (attach statement of explanation)
Change of name/address
No packet required for 2004
PART I—TAXABLE INCOME COMPUTATION
17. Income tax overpayment ....................................
1. Federal taxable income (Form 1120, line 28;
18. Credited to 2003 license tax ..............................
Form 1120A, line 24) ............................................
19. Credited to 2004 .................................................
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 5 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. Total capital (combine lines 1 and 3 through 7)
14. Taxable net income
9. Apportionment fraction
(attach Sch. A if applicable) ..
%
15. Net operating loss deduction .............................
(attach Sch. A if applicable) ................................
16. Taxable net income (after NOLD) .......................
10. Capital employed subject to tax ........................
PART II—INCOME TAX COMPUTATION
11. Tax before credit (line 10 multiplied by .0021) .
1. Income tax liability (see instructions) .................
12. License tax credit (maximum $490) .................
2. Economic development tax credits ....................
13. License tax liability (minimum $30) .................
3. Unemployment tax credit ...................................
14. Kentucky investment fund tax credit ................
4. Recycling/composting equipment tax credit .....
15. KIRA tax credit (see instructions) .....................
5. Coal conversion tax credit ..................................
16. Coal incentive tax credit ....................................
6. Enterprise zone tax credit ...................................
17. Net license tax liability ......................................
7. Kentucky investment fund tax credit ..................
18. Extension payment ............................................
8. Coal incentive tax credit ......................................
19. Income tax overpayment (Part II, line 18) ........
9. Qualified research facility tax credit ...................
20. License tax due ..................................................
10. GED incentive tax credit ......................................
21. License tax overpayment ..................................
11. Net income tax liability .......................................
22. Credited to 2003 income tax .............................
12. Estimated payments ............................................
23. Credited to 2004 .................................................
13. Extension payment ..............................................
24. Amount to be refunded ....................................
14. Prior year's credit ................................................
Mail return with payment to:
15. License tax overpayment (Part III, line 22) .........
Kentucky Revenue Cabinet, Frankfort, Kentucky 40620.
16. Income tax due ....................................................
TAX PAYMENT SUMMARY
(Round to Nearest Dollar) Make check(s) payable to Kentucky State Treasurer or
check here if EFT payment.
Income
Penalty
License
Interest
TOTAL (Including Penalty and Interest) ..............
Federal Form 1120, pages 1 and 4, or
1120A, pages 1 and 2, must be attached.
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