Form 725 Draft - Kentucky Single Member Llc Individually Owned Income And Llet Return - 2017 Page 4
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4*1700010279*
FORM 725 (2017)
Page 4 of 4
SCHEDULE L—LIMITED LIABILITY ENTITY TAX COMPUTATION
Check this box and complete Schedule L-C, Limited Liability Entity Tax—Continuation Sheet, if the corporation or limited
liability pass-through entity filing this tax return is a partner or member of a limited liability pass-through entity or general
partnership (organized or formed as a general partnership after January 1, 2006) doing business in Kentucky. Enter the total
amounts from Schedule L-C in Section A of this schedule.
SECTION A—Computation of Gross Receipts and Gross Profits
Column A
Column B
Kentucky
Total
00
00
1.(a) Gross receipts less returns and allowances ............................................ 1.(a)
1.(b) Kentucky statutory gross receipts reductions (see instructions) ........... 1.(b)
00
00
00
2.
Adjusted gross receipts (line 1(a) less line 1(b)) ...................................... 2.
00
00
3.(a) Cost of goods sold (attach Schedule COGS) ............................................ 3.(a)
3.(b) Kentucky statutory cost of goods sold reductions (see instructions) .... 3.(b)
00
00
00
4.
Adjusted cost of goods sold (line 3(a) less line 3(b)) .............................. 4.
5.
Gross profits (line 2 less line 4) ................................................................. 5.
00
00
If Section A, Column B, Line 1(a) is $3,000,000 or less,
STOP and enter $175 in Section D, line 1 below.
SECTION B—Computation of Gross Receipts LLET
1. If gross receipts from all sources (Column B, line 1(a)) are greater than
$3,000,000 but less than $6,000,000, enter the following:
[
]
(Column A, line 1(a) x 0.00095) –
$2,850 x ($6,000,000 – Column A, line 1a)
$3,000,000
but in no case shall the result be less than zero .............................................
1.
00
2. If gross receipts from all sources (Column B, line 1(a)) are $6,000,000
00
or greater, enter the following: Column A, line 1a x 0.00095 ......................... 2.
00
3. Enter the amount from line 1 or line 2 ............................................................. 3.
SECTION C—Computation of Gross Profits LLET
1. If gross profits from all sources (Column B, line 5) are greater than
$3,000,000 but less than $6,000,000, enter the following:
[
]
(
)
(
)
Column A, line 5 x 0.0075
–
$22,500 x
$6,000,000 – Column A, line 5
$3,000,000
but in no case shall the result be less than zero ................................................
1.
00
2. If gross profits from all sources (Column B, line 5) are $6,000,000
or greater, enter the following: Column A, line 5 x 0.0075 ............................
2.
00
3. Enter the amount from line 1 or line 2 .............................................................
3.
00
SECTION D—Computation of LLET
1. Enter the lesser of Section B, line 3 or Section C, line 3, or a minimum
00
of $175 and enter on Page 1, Part II, line 1 .......................................................
1.
41A725 (22JUN17-DRAFT)
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