Form 720s - Kentucky S Corporation Income And License Tax Return - 2003
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3720S
2003
Kentucky S Corporation Income
41A720S
and License Tax Return
ä
Taxable Year Ending
Revenue Cabinet
See separate instructions.
__ __ / __ __
Taxable period beginning __________________ , 2003, and ending __________________ , 200___ .
Mo.
Yr.
B
C
Federal
Kentucky
A
Check applicable box(es).
__ __ – __ __ __ __ __ __ __
__ __ __ __ __ __
Identification Number
Account Number
Income Tax Return
Name of S Corporation (Place preaddressed label here; otherwise print or type.)
State and Date of Incorporation
Return not required
Number and Street
Principal Business Activity in KY
Enter code
License Tax Return
City
State
ZIP Code
Telephone Number
Kentucky Business Code No.
Return not required
D
Name of Common Parent
Kentucky Account Number
Federal Business Code Number
Enter code
__ __ __ __ __ __
E Check if applicable:
LLC
Initial return
Final return/dissolution
Final return/withdrawal
Amended return
Short-period return (attach statement of explanation)
Change of name/address
No packet required for 2004
16. Income tax overpayment .................................
PART I—ORDINARY INCOME (LOSS) COMPUTATION
17. Credited to 2003 license tax .............................
18. Credited to 2004 ................................................
1. Federal ordinary income (loss)
(Form 1120S, line 21) ...........................................
19. Amount to be refunded .................................
ADDITIONS:
PART III—LICENSE TAX COMPUTATION
2. State taxes ............................................................
3. Other (attach schedule) .......................................
1. Capital stock .......................................................
4. Total (add lines 1 through 3) ..............................
2. Computation of surplus
(attach schedules for a & b)
CAUTION
SUBTRACTIONS:
(a) Total assets ..........
A QSSS must file
5. Federal work opportunity credit .........................
(b) Less debt .............. (
)
a separate entity
(c) Net assets .............
6. Other (attach schedule) .......................................
license tax return.
(d) Less capital stock . (
)
7. Ordinary income (loss)
(line 4 less lines 5 and 6) .....................................
3. Surplus (line 2c minus 2d) ...............................
4. Advances by affiliated companies ....................
PART II—INCOME TAX COMPUTATION
5. Intercompany accounts .....................................
6. Borrowed moneys .............................................
1. Taxable income
(see instructions) ...
7. Less moneys borrowed for inventory ..............
(
)
8. Total capital (combine lines 1 and
2. Less statutory
($25,000)
exemption ..............
3 through 7) ........................................................
9. Apportionment fraction
%
3. Net capital gain ......
(attach Sch. A if applicable) ................................
10. Capital employed subject to tax ........................
4. Less statutory
($25,000)
exemption ..............
11. Tax before credit (line 10 multiplied by .0021)
5. Enter lesser of line 2 or line 4 .............................
12. License tax credit (maximum $490) .................
%
6. Apportionment fraction (if applicable) ...............
13. License tax liability (minimum $30) .................
7. Taxable income ...................................................
14. KIRA tax credit (see instructions) .....................
8. Income tax liability ..............................................
15. Net license tax liability ......................................
9. Enterprise zone tax credit ...................................
16. Extension payment ............................................
10. Net income tax liability .......................................
17. Income tax overpayment (Part II, line 17) ........
11. Estimated payments ............................................
18. License tax due ..................................................
12. Extension payment ..............................................
19. License tax overpayment ..................................
13. Prior year's credit ................................................
20. Credited to 2003 income tax .............................
14. License tax overpayment (Part III, line 20) .........
21. Credited to 2004 .................................................
15. Income tax due ....................................................
22. Amount to be refunded ..................................
Mail return with payment to: Kentucky Revenue Cabinet, Frankfort, Kentucky 40620.
TAX PAYMENT SUMMARY
(Round to Nearest Dollar) Make check(s) payable to Kentucky State Treasurer or
check here if EFT payment.
Income
Penalty
License
Interest
TOTAL (Including Penalty and Interest) ..............
Federal Form 1120S, pages 1, 3 and 4,
must be attached.
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