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241A720ETH (10–15)
Page 2
Commonwealth of Kentucky
INSTRUCTIONS FOR SCHEDULE ETH
DEPARTMENT OF REVENUE
The ethanol tax credit is applied against individual income tax imposed by KRS 141.020, the corporation income tax imposed by KRS 141.040
and/or the limited liability entity tax (LLET) imposed by KRS 141.0401. The amount of tax credit claimed against the corporation income tax
and LLET can be different.
Purpose of Schedule—The application and credit certification
the annual ethanol tax credit cap.
schedule is to report the number of gallons of ethanol produced in
this state meeting the current ASTM standards. The Department of
Part II—Ethanol Gallons Approved
Revenue will certify the amount of ethanol credit for each taxpayer.
It is effective for ethanol produced on or after January 1, 2008. The
Line 1—This is the amount of ethanol gallons approved by the
taxpayer is not entitled to the credit for ethanol produced in another
Department of Revenue for credit. If the approved credit exceeds
state.
the ethanol tax credit cap, then the credit is determined by the
department in Part III. It is a nonrefundable credit.
The credit rate is $1 per gallon with a total cap for all taxpayers not
to exceed $5,000,000 annually, except the ethanol tax credit cap
A pass-through entity shall include on each Schedule K-1 the
shall be increased by the unused cap of the cellulosic ethanol tax
partner’s, member’s, shareholder’s or beneficiary’s pro rata share
credit. See Part III Instructions for further explanation. There is no
of the approved credit. In addition, a pass-through entity shall
carryforward for any unused credit.
notify the department electronically of all partners, members,
shareholders or beneficiaries who may claim any amount of the
To ensure proper processing, fax or email Schedule ETH to the
approved credit. Failure to provide information to the department
Department of Revenue no later than January 15 following the close
in the following manner may constitute the forfeiture of available
of the preceding calendar year. Schedules postmarked or sent after
credits to all partners, members, shareholders or beneficiaries in
January 15 are void. Credit certification cannot be guaranteed for
the pass-through entity.
schedules sent through regular mail.
Email address:
Fax number: (502) 564–0058
KRC.WEBResponseEconomicDevelopmentCredits@ky.gov
Email address:
The electronic mail shall contain a separate attachment in plain
KRC.WEBResponseEconomicDevelopmentCredits@ky.gov
format text or plain ASCII format that includes each partner’s,
member’s, shareholder’s or beneficiary’s: (a) Name; (b) Address;
The Department of Revenue will confirm the receipt of the
(c) Telephone number; (d) Identification number; and (e)
application. If you do not receive confirmation within two weeks of
Distributive share of the tax credit.
submitting the application, contact the Division of Corporation Tax
at (502) 564-8139.
Part III—Ethanol Approved Credit Certificate
The Department of Revenue will issue the credit certificate, listing
the amount of credit available, by April 15 following the close of
The Department of Revenue determines the total approved credit. If
the preceding calendar year. Attach the credit certificate to the tax
it exceeds the ethanol tax credit cap of $5,000,000, the department
return claiming the credit.
will compute each taxpayer’s approved credit based upon a fraction
the numerator (Line 1(a)) being the credit approved for the taxpayer
General Instructions—For the calendar year, enter the applicable
and the denominator (Line 1(b)) being the total credit approved for
year.
all taxpayers. The ethanol tax credit cap is multiplied by this fraction
to determine each producer’s approved credit.
Check the appropriate entity type. If taxed as an entity type other than
corporation, limited liability pass–through entity, general partnership
The annual ethanol tax credit cap of $5,000,000 will be increased
or individual, check the “Other” box and list the entity type.
by the unused cap of the cellulosic ethanol tax credit if the total
approved applications for the ethanol tax credit exceeds its
Federal Identification Number—For an individual, enter the
$5,000,000 cap. The amount of credit cap transferred to the ethanol
Social Security number; for all other entities, enter the FEIN.
tax credit shall not exceed the amount necessary for all applicants
to receive the one dollar ($1) per gallon credit provided by KRS
Testing—The regulation 103 KAR 15:110 provides that a copy of
141.4242.
the laboratory results for July 1 and December 31 of each calendar
year shall be attached to the application, Schedule ETH, submitted
Part IV—Ethanol Credit Used by Taxpayer
to the Department of Revenue. Failure to provide proof of meeting
the ASTM standard on July 1 and December 31 of each calendar
Line 1—Enter the amount of credit claimed for the taxable year
year with the application shall result in the denial of the credit for
against the LLET on Schedule TCS, Part II, Column E. The credit
gallons of ethanol back to the previous testing date of July 1 or
amount cannot reduce the LLET below the $175 minimum.
December 31.
Line 2—Enter the amount of credit claimed for the taxable year
Part I—Gallons Produced in Kentucky During the Calendar Year
against the corporation income tax on Schedule TCS, Part II, Column
F .
Line 1—Enter the number of gallons of ethanol produced in this state
for the calendar year.
Line 3—Enter the amount of credit claimed for the taxable year on
Form 740, 740–NP or 741.
Part II and Part III
These parts are completed by the Department of Revenue to
determine the ethanol credit for each taxpayer. Part III is used if the
total amount of approved credit for all ethanol producers exceeds
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