Schedule Kesa-Sp (Form 41a720kesa-Sp) - Tax Credit Computation Schedule (For A Kesa Project Of A Pass-Through Entity)

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SCHEDULE KESA-SP
*1400010324*
For taxable year ended
__ __ / __ __
41A720KESA-SP (10-14)
Mo.
Yr.
Commonwealth of Kentucky
DEPARTMENT OF REVENUE
TAX CREDIT COMPUTATION SCHEDULE
(FOR A KESA PROJECT OF A PASS-THROUGH ENTITY)
KRS 154.48-010 to 035
➤   See instructions.
➤  Attach to Form 720S, 725, 765 or 765-GP .
Name of Pass-through Entity
Federal Identification Number
Kentucky Corporation/LLET
Account Number
Location of Project
Activation Date of KESA
Environmental Stewardship
Incentive Agreement
Project Number
/
/
City
County
Mo.
Day
Yr.
PART I—Base Year Net Tax
1. Compute the tax imposed by KRS 141.020 ........................................................................
1
00
2. Compute the tax imposed by KRS 141.0401. Not applicable for Form 765-GP ...............
2
00
3. LLET credit permitted by KRS 141.0401(3). Not applicable for Form 765-GP ..................
3
00
4. Base year tax (total of lines 1 and 2 less line 3) .................................................................
4
00
5. Base year net tax (enter 50% of line 4) ...............................................................................
5
00
PART II—Current Year Net Tax
1. Compute the tax imposed by KRS 141.020 ........................................................................
1
00
2. Compute the tax imposed by KRS 141.0401. Not applicable for Form 765-GP ...............
2
00
3. LLET credit permitted by KRS 141.0401(3). Not applicable for Form 765-GP ..................
3
00
4. Current year net tax (total of lines 1 and 2 less line 3) ......................................................
4
00
PART III—KESA Credit
1. Enter credit available: (Part II, Line 4 less Part I, Line 5; if less than -0-, enter -0-) ..........
1
00
2. Enter 25% of total authorized inducement per KESA agreement ....................................
2
00
3. Enter the lesser of line 1 or line 2, and enter this amount on Schedule TCS,
Part II, Column E and on Schedule K of Form 720S, 765 or 765-GP .................................
3
00
The KESA tax credit is applied against the income tax imposed by KRS 141.020 or KRS 141.040 and the limited liability
entity tax (LLET) imposed by KRS 141.0401. The amount of tax credit against each tax can be different.

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