Form 740np-Wh-Es (State Form 40a201es) - Pass-Through Entity Nonresident Distributive Share Withholding Report And Composite Income Tax Return Voucher - 2013 Page 2
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3740NP-WH-ES
Page 2
40A201ES (10-12)
Commonwealth of Kentucky
INSTRUCTIONS – 2012 PASS-THROUGH ENTITY NONRESIDENT
DEPARTMENT OF REVENUE
DISTRIBUTIVE SHARE WITHHOLDING REPORT AND COMPOSITE
INCOME TAX RETURN VOUCHER
Who Must File—Effective for taxable years beginning after December 31, 2011, every pass-through entity required to
withhold Kentucky income tax as provided by KRS 141.206(5) or that files a composite income tax return as provided
by KRS 141.206(16)(a) shall make a declaration and payments of estimated tax as required by KRS 141.206(6) if: (i)
a nonresident individual partner’s, member’s or shareholder’s estimated tax liability can reasonably be expected to
exceed $500; or (ii) a corporate partner’s or member’s estimated tax liability can reasonably be expected to exceed
$5,000.
KRS 141.206(5) provides that every pass-through entity required to file a return under KRS 141.206(2), except publicly
traded partnerships as defined in KRS 141.0401(6)(r), shall withhold Kentucky income tax on the distributive share,
whether distributed or undistributed, of each: (i) nonresident individual partner, member or shareholder; and (ii)
corporate partner or member that is doing business in Kentucky only through its ownership interest in a pass-through
entity. Withholding shall be at the maximum rate provided by KRS 141.020 or 141.040.
KRS 141.206(16)(a) provides that a pass-through entity may file a composite income tax return on behalf of qualifying
electing nonresident individual partners, members or shareholders. The pass-through entity shall report and pay tax
at the maximum rate provided by KRS 141.020 on any portion of a partner’s, member’s or shareholder’s pro rata or
distributive share income of the pass-through entity apportioned to this state.
Payment Dates for Calendar Year Filers—KRS 141.207(2) provides that the declaration of estimated tax required under
KRS 141.207 shall be filed with the department by the pass-through entity in the same manner and at the same times
as provided by: (i) KRS 141.300, for a nonresident individual partner, member or shareholder; and (ii) KRS 141.042,
for a corporate partner or member.
CORPORATE PARTNER OR MEMBER—If a pass-through entity’s estimated tax for the taxable year can reasonably
be expected to exceed $5,000 for a corporate partner or member before June 2, the following payment dates are
applicable:
First installment
June 15
50% of Estimated Tax due
Second installment
September 15
25% of Estimated Tax due
Third installment
December 15
25% of Estimated Tax due
If Income Changes—If a pass-through entity’s estimated tax for the taxable year can reasonably be expected to
exceed $5,000 for a corporate partner or member after June 1 and before September 2, the following payment dates
are applicable:
First installment
September 15
75% of Estimated Tax due
Second installment
December 15
25% of Estimated Tax due
If a pass-through entity’s estimated tax for the taxable year can reasonably be expected to exceed $5,000 for a corporate
partner or member after September 1 and before December 2, 100% of the estimated tax is due on December 15.
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