Form 720s - Kentucky S Corporation Income Tax And Llet Return

__ __ __ __ __ __

720S

*1000020256*

Kentucky Corporation/LLET Account Number

41A720S

S C

ENTUCKY

ORPORATION

Department of Revenue

2010

➤

LLET R

See instructions.

NCOME

AX AND

ETURN

Taxable period beginning _______________ , 2010, and ending _______________ , 20 ___ ___ .

__ __ / __ __

Federal

Taxable Year Ending

Check applicable box(es):

__ __ – __ __ __ __ __ __ __

Identiﬁ cation Number

Mo.

Yr.

LLET

State and Date of Incorporation

Name of S Corporation (Print or type)

Receipts Method

Gross Receipts

Gross Proﬁ ts

Principal Business Activity in KY

$175 minimum

Number and Street

Nonﬁ ling Status Code

NAICS Code Number

(Relating to Kentucky Activity)

City

State

ZIP Code

Telephone Number

(See )

Enter Code _____ _____

Check if applicable:

Qualiﬁ ed investment pass-through entity

LLC

Initial return

Final return (attach explanation)

Income Tax Return

Short-period return (attach explanation)

Amended return

Change of name

Change of address

Change of accounting period

Nonﬁ ling Status Code

Number of Shareholders (Attach K-1s)

➤ ___________________________________________

Enter Code _____ _____

Number of QSSSs Included in This Return (Attach Schedule)

➤ ________________________________________________

PART I—ORDINARY INCOME (LOSS) COMPUTATION

9. Film industry tax credit ........................

10. Extension payment ............................. 10

1. Federal ordinary income (loss) (see

11. Prior year’s tax credit ..........................

instructions) ...........................................

12. Income tax overpayment from

ADDITIONS

Part III, line 11 ...................................... 12

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

13. LLET due (line 6 less lines 7

3. Federal depreciation (do not include

through 12) .......................................... 13

Section 179 expense deduction) ..........

14. LLET overpayment (lines 7

4. Related party expenses.........................

through 12 less line 6) ........................ 14

5. Other (attach Schedule O-PTE) .............

15. Credited to 2010 income tax ............... 15

6. Total (add lines 1 through 5) ................

16. Credited to 2011 LLET ......................... 16

SUBTRACTIONS

17. Amount to be refunded ...................... 17

7. Federal work opportunity credit...........

8. Kentucky depreciation (do not include

PART III—INCOME TAX COMPUTATION

Section 179 expense deduction) ..........

9. Other (attach Schedule O-PTE) .............

1. Excess net passive income tax ............

10. Kentucky ordinary income (loss)

2. Built-in gains tax ...................................

(line 6 less lines 7 through 9) ............... 10

3. Tax installment on LIFO recapture ......

4. Total (add lines 1 through 3) ................

PART II—LLET COMPUTATION

5. Estimated tax payments

1. Schedule LLET, Section D, line 1 .........

Check if Form 2220-K attached .....

2. Recycling/composting equipment

6. Extension payment ..............................

tax credit recapture ..............................

7. Prior year’s tax credit ...........................

3. Total (add lines 1 and 2) .......................

8. LLET overpayment from Part II,

4. Nonrefundable LLET credit from

line 15 ....................................................

Kentucky Schedule(s) K-1 ....................

9. Income tax due (line 4 less lines 5

5. Nonrefundable tax credits

through 8) ..............................................

(Schedule TCS) ......................................

10. Income tax overpayment (lines 5

6. LLET liability (greater of line 3 less

through 8 less line 4) ............................. 10

lines 4 and 5 or $175 minimum) .........

11. Credited to 2010 LLET .......................... 11

7. Estimated tax payments ......................

12. Credited to 2011 corporation income tax .. 12

8. Certiﬁ ed rehabilitation tax credit ........

13. Amount to be refunded ....................... 13

➤

TAX PAYMENT SUMMARY (Round to nearest dollar)

Federal

Form

1120S, all pages and

any supporting schedules must be

LLET

INCOME

attached.

1. LLET due (Part II, Line 13)

$___________________

1. Income tax due (Part III, Line 9)

$___________________

Make check payable to:

2. Penalty

$___________________

2. Penalty

$___________________

Kentucky State Treasurer

3. Interest

$___________________

3. Interest

$___________________

Mail return with payment to:

4. Subtotal

$___________________

4. Subtotal

$___________________

Kentucky Department of Revenue

Frankfort, Kentucky 40620

TOTAL PAYMENT (Add Subtotals) ..............................................................➤ $ _________________________________________

Form 720s - Kentucky S Corporation Income Tax And Llet Return - 2010

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