Form 720-Amended - Amended Kentucky Corporation Income Tax Return (Draft) printable pdf download

Kentucky Corporation/LLET Account Number

720-AMENDED

__ __ __ __ __ __

*0700010202*

41A720AM (10-07)

MENDED

ENTUCKY

Department of Revenue

ORPORATION

NCOME

ETURN

(Pass-Through Corporations Use Applicable Forms)

Taxable period beginning

For periods beginning on or after January 1, 2005

________________ , 200___ , and ending ________________ , 200___ .

and before January 1, 2007.

__ __ / __ __

If filing consolidated,

Federal

Taxable Year Ending

__ __ – __ __ __ __ __ __ __

check the appropriate

Identification Number

Mo.

Yr.

box. See instructions.

Name of Corporation or Affiliated Group (Print or type)

State and Date of Incorporation

Consolidated

Number and Street

Principal Business Activity in KY

Election

Made prior

to 2005, attach

City

State

ZIP Code

Telephone Number

NAICS Code Number

Form 722.

(Relating to Kentucky Activity)

(See )

Mandatory

Name of Common Parent

Kentucky Corporation/LLET Account Number

Nexus

__ __ __ __ __ __

Explanation of Changes Made to the Original Return (attach schedule if necessary)—

PART I—TAXABLE INCOME COMPUTATION

PART II—TAX COMPARISON

1. Federal taxable income (Form 1120, line 28;

1. Income tax from Part I (multiply line 26

Form 1120A, line 24) ............................................

by rates) (see instructions) ...............................

ADDITIONS:

2. Interest income (state and local obligations) .....

2. Alternative minimum (AMC) ............................

PART III—TAX COMPUTATION

3. State taxes based on net/gross income .............

4. Depreciation adjustment .....................................

1. Tax liability (Part II, greater of line 1, line 2

5. Deductions attributable to nontaxable income ..

or $175 minimum) .............................................

6. Related party expenses .......................................

2. Recycling/composting equipment tax credit

7. Pass-through loss(es) from other corporation(s)

recapture ..............................................................

subject to Kentucky corporation income tax .......

3. Total (add lines 1 and 2) (if $175 minimum,

8. Domestic production activities deduction ..........

skip line 4 and enter on line 5) ..........................

9. Other (attach schedule) .......................................

4. Total credits ........................................................

10. Revenue Agents Report (RAR) ............................

5. Amended tax liability (line 3 less line 4)

11. Total (add lines 1 through 10) .............................

($175 minimum) .................................................

SUBTRACTIONS:

6. Estimated tax payments ....................................

12. Interest income (U.S. obligations) ......................

7. Extension tax payment ......................................

13. Dividend income ..................................................

8. Prior year's credit ...............................................

14. Federal work opportunity credit .........................

9. Tax paid on original return ................................

15. Depreciation adjustment .....................................

10. Refund on original return ..................................

16. Pass-through income from other corporation(s)

11. Credited to 2007 return ......................................

subject to Kentucky corporation income tax .......

12. Tax due (total of lines 5, 10 and 11 less

17. Other (attach schedule) .......................................

total of lines 6 through 9) ..................................

18. Revenue Agents Report (RAR) .............................

13. Tax overpayment (total of lines 6 through 9

19. Net income (line 11 less lines 12 through 18) ....

less total of lines 5, 10 and 11) ..........................

__ __

20. Current net operating loss adjustment

14. Credited to 20

......................................

(mandatory nexus only) ........................................

15. Amount to be refunded (line 13 less line 14) ...

21. Kentucky net income (add lines 19 and 20) .......

➤ Federal Form 1120, pages 1, 2 and 4, or 1120A,

22. Taxable net income

pages 1 and 2, and any supporting schedules

(attach Schedule A if applicable) ........................

must be attached.

23. Net operating loss deduction (NOLD) ................

24. Taxable net income after NOLD

(line 22 less line 23) .............................................

Make check(s) payable to:

Kentucky State Treasurer

25. Kentucky domestic production activities

Mail return with payment to: Kentucky Department of Revenue

deduction (KDPAD) ..............................................

Frankfort, Kentucky 40620

26. Taxable net income after KDPAD .......................

TAX PAYMENT SUMMARY (Round to Nearest Dollar)

TAX (check applicable box)

Income

AMC Gross Receipts

AMC Gross Profits

Minimum $175

Tax ..............................................................................................................................................................

Penalty ........................................................................................................................................................

Interest .......................................................................................................................................................

TOTAL (Including Penalty and Interest) ............................................................................................... ➤