Schedule Kesa (Form 41a720kesa) - Tax Credit Computation Schedule (For A Kesa Project Of A Corporation)

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SCHEDULE KESA
*1300010290*
For taxable year ended
__ __ / __ __
41A720KESA (10-13)
Mo.
Yr.
Commonwealth of Kentucky
DEPARTMENT OF REVENUE
TAX CREDIT COMPUTATION SCHEDULE
(FOR A KESA PROJECT OF A CORPORATION)
KRS 154.48-010 to 035
➤ See instructions.
➤ Attach to Form 720.
Name of Corporation
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 141.040 ........................................................................
1
00
2. Compute the tax imposed by KRS 141.0401 ......................................................................
2
00
3. LLET credit permitted by KRS 141.0401(3) .........................................................................
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 141.040 ........................................................................
1
00
2. Compute the tax imposed by KRS 141.0401 ......................................................................
2
00
3. LLET credit permitted by KRS 141.0401(3) .........................................................................
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 allowable LLET credit on Schedule TCS, Part II, Column E ....................................
3
00
4. Enter allowable income tax credit on Schedule TCS, Part II, Column F ..........................
4
00
The KESA tax credit is applied against 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 against each tax can be different. For tracking
purposes, the maximum amount of credit used against either tax is the amount that is entered on Schedule KESA-T,
Column C for this taxable year. This is the greater of Part III, Line 3 or Part III, Line 4.

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