Instructions For Form 725 (State Form 41a725(I)) - Kentucky Single Member Llc Individually Owned Llet Return - 2012 Page 2
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16HB 539—Provisions effective July 12, 2012
The agreement for a Kentucky Industrial Revitalization Act
project shall not be longer than the earlier of: (i) the date
Kentucky Industrial Revitalization Act—KRS 154.26-010 was
on which the approved company has received inducements
amended to allow a supplemental project during the term of
or withheld assessments equal to the amount that the
a previously approved Kentucky Industrial Revitalization Act
company may recover; or (ii) ten (10) years from the date
project. A supplemental project eligible company means an
of the execution of the agreement or any longer term
approved company that: (i) has expended approved costs
negotiated as part of an amended agreement not to exceed
of at least $50 million on an existing approved Kentucky
an additional ten (10) years, for a maximum of twenty (20)
Industrial Revitalization Act project; and (ii) employs a
years if a supplemental project is approved.
minimum of seven hundred fifty (750) employees at the site
of the Kentucky Industrial Revitalization Act project.
FILING FORM GUIDE
Kentucky Form and Tax
Corporation
Form
Income
Type of Entity
Required
Tax
LLET
1. C corporation
720
Yes
Yes
2. C corporation (nexus consolidated group as provided
by KRS 141.200(11))
720
Yes
Yes
3. Publicly traded partnership (taxed as a corporation
for federal income tax purposes)
720
Yes
Yes
4. S corporation
720S
Yes *
Yes
5. Single member limited liability company whose
single member is an individual
725
No
Yes
6. Limited liability company (two or more members)
765
No
Yes
7. Limited partnership
765
No
Yes
8. Limited liability partnership
765
No
Yes
9. General partnership
765-GP
No
No
10. Publicly traded partnership (taxed as a partnership
for federal income tax purposes)
765-GP
No
No
* If the S corporation has b uilt-in gains, passive investment income or installments of tax on the recapture of
LIFO benefits as provided by KRS 141.040(14), corporation income tax is due.
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