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41A720 LLET-C (10-11)

Page 3

Commonwealth of Kentucky

INSTRUCTIONS—SCHEDULE LLET-C

DEPARTMENT OF REVENUE

For the Total column enter the following:

Purpose of Schedule—Schedule LLET-C, Limited Liability Entity Tax—Continuation

Sheet, is required if the corporation or limited liability pass-through entity filing the

Line 3 – Enter the total of the amounts on Line 3 from all columns and pages of Schedule

tax return is a partner or member of a limited liability pass-through entity or general

LLET-C.

partnership (organized or formed as a general partnership after January 1, 2006) doing

business in Kentucky.

Line 5 – Enter the total of the amounts on Line 5 from all columns and pages of Schedule

LLET-C.

Schedule LLET-C and Schedule LLET must be submitted with the applicable tax return

(Form 720, 720S, 725 or 765).

Enter the amounts from the Total column, Lines 3 and 5 on the corresponding lines

of Schedule LLET, Column A, Lines 3 and 5.

KRS 141.120(11) provides that a corporation that is a partner or member of a limited

liability pass-through entity or a general partnership organized or formed as a general

Section B – Total from All Sources

partnership after January 1, 2006, shall include its proportionate share of the sales in

calculating the tax due pursuant to KRS 141.0401. The phrases “an interest in a limited

For the “Corporation or Limited Liability Pass-through Entity Filing Return” column

liability pass-through entity” and “an interest in a general partnership organized or

enter the following:

formed as a general partnership after January 1, 2006,” shall extend to each level of

Line 1 – Enter gross receipts from all sources before returns and allowances.

multiple-tiered pass-through entities.

Line 2 – Enter the returns and allowances attributable to gross receipts from all

Combined Group – A member of a combined group pursuant to KRS 141.0401(1)(c)

sources.

must use the total gross receipts and the total gross profits of the combined group to

determine if it is eligible for the small business relief provided by KRS 141.0401(2)(b).

Line 3 – Enter Line 1 less Line 2.

The member computes its LLET based upon its Kentucky gross receipts and Kentucky

gross profits. A “combined group” means all members of an affiliated group as defined

Line 4 – Enter the cost of goods sold attributable to gross receipts from all sources.

in KRS 141.200(9)(b) and all limited liability pass-through entities that would be included

Line 5 – Enter Line 3 less Line 4.

in an affiliated group if organized as a corporation.

For the other columns enter the following:

LINE-BY-LINE INSTRUCTIONS

For each entity of which the corporation or limited liability pass-through entity filing the

Section A – Total from Kentucky Sources

return is a partner or member, enter from the Kentucky Schedule K-1 on the applicable

For the “Corporation or Limited Liability Pass-through Entity Filing Return” column

line of each column the gross receipts from all sources after returns and allowances

enter the following:

and gross profits from all sources.

For the Total column enter the following:

Line 1 – Enter Kentucky gross receipts before Kentucky returns and allowances.

Line 3 – Enter the total of the amounts on Line 3 from all columns and pages of Schedule

Line 2 – Enter the Kentucky returns and allowances.

LLET-C.

Line 3 – Enter Line 1 less Line 2.

Line 5 – Enter the total of the amounts on Line 5 from all columns and pages of Schedule

LLET-C.

Line 4 – Enter the cost of goods sold attributable to Kentucky gross receipts.

Enter the amounts from the Total column, Lines 3 and 5 on the corresponding lines

Line 5 – Enter Line 3 less Line 4.

of Schedule LLET, Column B, Lines 3 and 5.

For the other columns enter the following:

For each entity of which the corporation or limited liability pass-through entity

filing the return is a partner or member, enter from the Kentucky Schedule K-1 on

the applicable line of each column: name; federal employer identification number;

Kentucky Corporation/LLET account number; Kentucky gross receipts after returns

and allowances; and Kentucky gross profits. If additional schedules are needed, copy

page 2 of Schedule LLET-C and attach. If more than one additional page is needed,

identify pages alphabetically.

Schedule Llet-C (Form 41a720llet-C) - Limited Liability Entity Tax - Continuation Sheet Page 3

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