Form 41a720-S29 - Schedule Kjda-Sp - Tax Computation Schedule (For A Kjda Project Of A General Partnership)

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*0600010249*
For taxable year ended
SCHEDULE KJDA-SP
__ __ / __ __
41A720-S29 (1-06)
Mo.
Yr.
Commonwealth of Kentucky
DEPARTMENT OF REVENUE
T
C
S
AX
OMPUTATION
CHEDULE
(FOR A KJDA PROJECT OF A GENERAL PARTNERSHIP)
➤ Attach to Form 765-GP.
KRS 154.24-010 to 160
Name of General Partnership
Federal Identification Number
_ _ – _ _ _ _ _ _ _
Location of Project
Date KJDA Financing/Tax Incentive
Economic Development
Agreement was Executed
Project Number
or Activation Date
_ _ / _ _ / _ _
City
County
Mo.
Day
Yr.
PART I—Computation of KJDA Tax Credit and Tax Due
1. Kentucky taxable net income from KJDA project (see instructions) ................................................... 1
2. Net operating loss deduction from KJDA project ................................................................................. 2 (
)
3. Kentucky taxable net income from KJDA project after net operating loss deduction
(subtract line 2 from line 1) ..................................................................................................................... 3
4. Compute tax on amount from line 3:
Taxable Net Income
Rate
Tax
(a) First $3,000 ........................
x
2%
(b) Next $1,000 ........................
x
3%
(c) Next $1,000 ........................
x
4%
(d) Next $3,000 ........................
x
5%
(e) Over $8,000 up to $75,000 .
x
5.8%
(f) Over $75,000 .......................
x
6%
(g) Total income tax liability of KJDA project (add lines 4(a) through 4(f)) ................................... 4(g)
5. Limitation (Column F from Schedule KJDA) ......................................................................................... 5
6. Enter lesser of line 4(g) or line 5 as either:
(a) KJDA tax credit .............................................................................................................................. 6(a)
or
(b) Estimated tax payment and complete election in Part II ............................................................ 6(b)
7. If line 4(g) is larger than line 6(a) or 6(b), enter difference here as the net income tax
liability of the general partnership. (Any general partnership reflecting a tax liability
complete Tax Payment Summary below and remit payment.) ........................................................... 7
PART II—Estimated Tax Election
In accordance with KRS 141.407(4)(b),
Name of General Partnership
elects for the taxable year ended
, in lieu of the KJDA tax credit, to have an amount equal
to the lesser of line 4(g) or line 5 above applied as an estimated tax payment.
➤
Signature of General Partner
Date
TAX PAYMENT SUMMARY (Make check payable to Kentucky State Treasurer.)
Tax
Interest
Penalty
TOTAL
Form 765-GP, Kentucky Partnership Income Return, including this schedule must be mailed to Economic
Development Tax Credits, Corporation Income and License Tax Branch, Kentucky Department of Revenue, P.O.
Box 181, Frankfort, Kentucky 40602-0181.

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