Form 720 - Kentucky Corporation Income And License Tax Return - 2000
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1
2Kentucky Corporation Income
2000
720
and License Tax Return
41A720
(S Corporations Use Form 720S)
Taxable Year Ending
Revenue Cabinet
ä
Taxable period beginning __________________ , 2000, and ending __________________ , 200___ .
M M Y
Y
See separate
instructions.
B
C
Federal
Kentucky
A
Check applicable box(es).
Identification Number
Account Number
Income Tax Return
Separate entity
Name of Corporation or Affiliated Group (Place preaddressed label here; otherwise print or type.)
State and Date of Incorporation
Consolidated
Return not required
Number and Street
Principal Business Activity in KY
Enter code
License Tax Return
City
State
ZIP Code
Telephone Number
Kentucky Business Code No.
Separate entity
Consolidated
D
Name of Common Parent
Kentucky Account Number
Federal Business Code Number
Return not required
__ __ __ __ __ __
Enter code
E Check if applicable:
LLC
Initial return
Final return
Short-period return
Change of name/address
PART I—TAXABLE INCOME COMPUTATION
15. Income tax overpayment ....................................
1. Federal taxable income (Form 1120, line 28;
16. Credited to 2000 license tax ..............................
Form 1120A, line 24) ............................................
17. Credited to 2001 .................................................
ADDITIONS:
18. 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. Safe harbor lease adjustment .............................
2. Computation of surplus
5. Deductions attributable to nontaxable income .
(a) Total assets ............
6. Other (attach schedule) .......................................
(b) Less debt ................ (
)
7. Total (add lines 1 through 6) ..............................
(c) Net assets ...............
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. Safe harbor lease 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 .............................
(
)
14. Taxable net income (attach Sch. A
9. Total capital (combine lines 1 and 3 through 8)
%
if applicable) .........................................................
10. Apportionment fraction
(attach Sch. A if applicable)
15. Net operating loss deduction .............................
11. Capital employed subject to tax ........................
16. Taxable net income (after NOLD) .......................
12. Tax before credit (line 11 multiplied by .0021)
PART II—INCOME TAX COMPUTATION
13. License tax credit (maximum $490) .................
1. Income tax liability (see instructions) .................
14. License tax liability (minimum $30) .................
2. Economic development tax credits ....................
15. Kentucky investment fund tax credit ................
3. Unemployment tax credit ...................................
16. KIRA tax credit (see instructions) .....................
4. Recycling/composting equipment tax credit .....
17. Coal incentive tax credit ....................................
5. Coal conversion tax credit ..................................
18. Net license tax liability ......................................
6. Enterprise zone tax credit ...................................
19. Extension payment ............................................
7. Kentucky investment fund tax credit ..................
20. Income tax overpayment (Part II, line 16) ........
8. Coal incentive tax credit ......................................
21. License tax due ..................................................
9. Net income tax liability .......................................
22. License tax overpayment ..................................
10. Estimated payments ............................................
23. Credited to 2000 income tax .............................
11. Extension payment ..............................................
24. Credited to 2001 .................................................
12. Prior year's credit ................................................
25. Amount to be refunded ..................................
13. License tax overpayment (Part III, line 23) .........
Mail return with payment to:
Kentucky Revenue Cabinet, Frankfort, Kentucky 40620.
14. Income tax due ....................................................
TAX PAYMENT SUMMARY
(Round to Nearest Dollar) Make check(s) payable to Kentucky State Treasurer.
Penalty
Income
Interest
41A7200013
TOTAL
(Including Penalty
License
and Interest)
Federal Form 1120, pages 1 and 4, or
1120A, pages 1 and 2, must be attached.
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