Schedule Llet-C - Kentucky Limited Liability Entity Tax Continuation Sheet Page 3
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341A720 LLET-C (10-15)
Page 3
Commonwealth of Kentucky
INSTRUCTIONS—SCHEDULE LLET-C
DEPARTMENT OF REVENUE
page 2 of Schedule LLET-C and attach. If more than one additional page is needed,
Purpose of Schedule—Schedule LLET-C, Limited Liability Entity Tax—Continuation
identify pages alphabetically.
Sheet, is required if the corporation or limited liability pass-through entity filing the
tax return is a partner or member of a limited liability pass-through entity or general
For the Total column enter the following:
partnership (organized or formed as a general partnership after January 1, 2006) doing
business in Kentucky.
Line 3 – Enter the total of the amounts on Line 3 from all columns and pages of Schedule
LLET-C.
Schedule LLET-C and Schedule LLET must be submitted with the applicable tax return
(Form 720, 720S, 725 or 765).
Line 5 – Enter the total of the amounts on Line 5 from all columns and pages of Schedule
LLET-C.
KRS 141.120(11) provides that a corporation that is a partner or member of a limited
liability pass-through entity or a general partnership organized or formed as a general
Enter the amounts from the Total column, Lines 3 and 5 on the corresponding lines
partnership after January 1, 2006, shall include its proportionate share of the sales in
of Schedule LLET, Column A, Lines 3 and 5.
calculating the tax due pursuant to KRS 141.0401. The phrases “an interest in a limited
liability pass-through entity” and “an interest in a general partnership organized or
Section B – Total from All Sources
formed as a general partnership after January 1, 2006,” shall extend to each level of
For the “Corporation or Limited Liability Pass-through Entity Filing Return” column
multiple-tiered pass-through entities.
enter the following:
Combined Group – A member of a combined group pursuant to KRS 141.0401(1)(c)
Line 1 – Enter gross receipts from all sources before returns and allowances.
must use the total gross receipts and the total gross profits of the combined group to
determine if it is eligible for the small business relief provided by KRS 141.0401(2)(b).
Line 2 – Enter the returns and allowances attributable to gross receipts from all
The member computes its LLET based upon its Kentucky gross receipts and Kentucky
sources.
gross profits. A “combined group” means all members of an affiliated group as defined
in KRS 141.200(9)(b) and all limited liability pass-through entities that would be included
Line 3 – Enter Line 1 less Line 2.
in an affiliated group if organized as a corporation.
Line 4 – Enter the Total Cost of Goods Sold from Schedule COGS, Column B, Line 8.
If the company is computing its LLET based on gross profits, Schedule COGS,
Line 5 – Enter Line 3 less Line 4.
Limited Liability Entity Tax Cost of Goods Sold, must be attached to the applicable
tax return.
For the other columns enter the following:
LINE-BY-LINE INSTRUCTIONS
For each entity of which the corporation or limited liability pass-through entity filing the
return is a partner or member, enter from the Kentucky Schedule K-1 on the applicable
Section A – Total from Kentucky Sources
line of each column the gross receipts from all sources after returns and allowances
and gross profits from all sources.
For the “Corporation or Limited Liability Pass-through Entity Filing Return” column
enter the following:
For the Total column enter the following:
Line 1 – Enter Kentucky gross receipts before Kentucky returns and allowances.
Line 3 – Enter the total of the amounts on Line 3 from all columns and pages of Schedule
LLET-C.
Line 2 – Enter the Kentucky returns and allowances.
Line 5 – Enter the total of the amounts on Line 5 from all columns and pages of Schedule
Line 3 – Enter Line 1 less Line 2.
LLET-C.
Line 4 – Enter the Kentucky Cost of Goods Sold from Schedule COGS, Column A, Line
Enter the amounts from the Total column, Lines 3 and 5 on the corresponding lines
8.
of Schedule LLET, Column B, Lines 3 and 5.
Line 5 – Enter Line 3 less Line 4.
For the other columns enter the following:
For each entity of which the corporation or limited liability pass-through entity
filing the return is a partner or member, enter from the Kentucky Schedule K-1 on
the applicable line of each column: name; federal employer identification number;
Kentucky Corporation/LLET account number; Kentucky gross receipts after returns
and allowances; and Kentucky gross profits. If additional schedules are needed, copy
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