Form 41a720-S54 Schedule Kbi-Sp Draft - Tax Computation Schedule - 2015
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1
2SCHEDULE KBI–SP
*1500010314*
Taxable Year Ending
__ __ / __ __
41A720–S54 (10–15)
Mo.
Yr.
Commonwealth of Kentucky
T
C
S
AX
OMPUTATION
CHEDULE
DEPARTMENT OF REVENUE
(FOR A KBI PROJECT OF A PASS–THROUGH ENTITY)
➤ See instructions.
➤ Attach to Form 720S, 765 or 765–GP .
KRS 154.32–010 to 100
Name of Pass-through Entity
Federal Identification Number
Kentucky Corporation/LLET
Account Number
__ __ __ __ __ __ __ __ __
__ __ __ __ __ __
Location of Project
Activation Date of KBI
Economic Development
Incentive Agreement
Project Number
/
/
City
County
Mo.
Day
Yr.
PART I—Computation of KBI Tax Credit and Tax Due
1. Kentucky taxable income on KBI project (see instructions) .............................................................
1
00
2. Net operating loss deduction on KBI project ....................................................................................
2 (
)
00
3. Kentucky taxable income on KBI project after net operating loss deduction
(line 1 less line 2) .................................................................................................................................
3
00
4. Income tax on amount from line 3:
Taxable Net Income
Rate
Tax
(a) First $3,000 ........................
x
2%
00
(b) Next $1,000 ........................
x
3%
00
(c) Next $1,000 ........................
x
4%
00
(d) Next $3,000 ........................
x
5%
00
(e) Over $8,000 up to $75,000
x
5.8%
00
(f) Over $75,000.......................
x
6%
00
(g) Total income tax liability of KBI project (add lines 4(a) through 4(f)) ...................................... 4(g)
00
5. LLET on KBI project (see instructions). Not applicable for Form 765–GP .......................................
5
00
6. LLET credit allowed (line 5 less $175, but not more than line 4(g)). Not applicable for
Form 765–GP ........................................................................................................................................
6
00
7. Total tax on KBI project (lines 4(g) and 5 less line 6) ........................................................................
7
00
8. Limitation (Column E from Schedule KBI-T) .....................................................................................
8
00
9. Enter the lesser of line 7 or line 8 as either:
(a) KBI tax credit .................................................................................................................................
9(a)
00
or
(b) Estimated tax payment and complete election in Part II ........................................................... 9(b)
00
10. If line 7 is larger than line 9(a) or 9(b), enter difference here as a liability of the
pass–through entity. (Any pass–through entity reflecting a tax liability, complete
Tax Payment Summary below and remit payment.) ........................................................................
10
00
PART II—Estimated Tax Election
In accordance with KRS 141.415(4)(b),
Name of Pass–through Entity
elects for the taxable year ended
, in lieu of the
tax credit, to have an amount equal
KBI
to the lesser of line 7 or line 8 above applied as an estimated tax payment.
➤
Signature of Shareholder, Partner or Member
Date
TAX PAYMENT SUMMARY (Make check payable to Kentucky State Treasurer.)
Tax
Interest
Penalty
TOTAL
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