Form 41a720-S28 Draft - Schedule Kjda-T - Tracking Schedule For A Kjda Project Page 2
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241A720-S28 (10-07)
Page 2
INSTRUCTIONS—SCHEDULE KJDA-T
Column B—For the taxable year that includes the activation
PURPOSE OF SCHEDULE—This schedule is used by any
date of the service and technology agreement, enter 50
company which has entered into a service and technology
percent of the total start-up costs as verified by the
agreement for a Kentucky Jobs Development Act (KJDA)
Kentucky Economic Development Finance Authority. For
project to maintain a record of the approved costs, wage
assessment fees, in-lieu-of credits and tax credits (income
each year thereafter, if the amount entered in Column F
tax and limited liability entity tax) for the duration of the
for the prior year exceeds the amount entered in Column
service and technology agreement. This information is
G for the prior year, enter the difference. If the amount
necessary for the company to determine the limitation of
entered in Column G for the prior year equals the amount
the tax credit for each year of the service and technology
entered in Column F for the prior year, enter zero (-0-).
agreement and to allow the Kentucky Department of
Revenue to verify that the credit has been properly
Column C—Enter 50 percent of rental payments made
computed.
during the taxable year as set forth in the service and
technology agreement.
GENERAL INSTRUCTIONS
Column D—Enter the total amount of employee wage
A single Schedule KJDA-T, Tracking Schedule
assessment fees (both the state and local portion) withheld
for a KJDA Project, shall be maintained for the duration of
from the salaries of employees during the taxable year.
each KJDA project. Beginning with the first taxable year
of the KJDA service and technology agreement, complete
Column E—If the local jurisdiction where the project is
Columns A through G using a separate line for each year
located elected to provide in-lieu-of credits as provided
of the service and technology agreement. The company
by KRS 154.024-150(1) and (2), enter the amount of in-
shall attach a copy of this schedule updated with current
lieu-of credits received during the taxable year.
year information to the Schedule KJDA or Schedule KJDA-
SP, which is filed with the Kentucky tax return for the year.
Column F—Enter the result of adding the amounts entered
in Columns B and C and subtracting the amounts entered
For Form 720, all tax credits are entered on Schedule TCS,
in Columns D and E. Also, enter on Schedule KJDA, Part
a tax credit summary. The total tax credits calculated may
III, Line 2, or Schedule KJDA-SP, Part I, Line 8, whichever
exceed the amount that can be used. Credits must be
is applicable.
claimed in the order prescribed by KRS 141.0205. Total
credits claimed cannot reduce the LLET below the $175
Column G—The KJDA tax credit is applied against the
minimum . Total credits claimed cannot reduce the income
corporation income tax imposed under KRS 141.040 and/
tax liability below zero.
or the limited liability entity tax imposed under KRS
141.0401. The tax credit calculated for each tax can be
SPECIFIC INSTRUCTIONS
different, however for tracking purposes, the maximum
amount used against either tax is recorded as amount
Column A—Enter on each line the ending date (month and
year) of the taxable year for which the information
claimed. Enter the greater of Column E or Column F from
Schedule TCS for this project.
requested in Columns B through G is entered.
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