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Jeopardy Fee—A $100 minimum penalty on all nonfiled returns,

• A 52/53–week year is a fiscal year that varies between 52 and

when the taxpayer fails to file a return or provide information

53 weeks. Example: A 52/53–week year ending the first week

after being requested to do so by the Department of Revenue.

of January 2012, would be entered as:

KRS 131.150(2)

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Failure to pay LLET by the payment date—2 percent of the tax

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due for each 30 days or fraction thereof that the payment is

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Yr.

overdue (maximum 20 percent). The minimum penalty is $10.

KRS 131.180(2)

Failure to properly reflect the Taxable Year Ending may result

Late payment or underpayment of estimated tax—10 percent

in delinquency notices or billings for failure to file.

of the late payment or underpayment. The minimum penalty is

$25. KRS 131.180(3)

Item A—Enter the six–digit Kentucky Corporation/LLET Account

Number on the applicable line at the top of each form and

Failure or refusal to file an LLET return or furnish information

schedule and also on all checks and correspondence. This

requested in writing—5 percent of the tax assessed for each

number was included in correspondence received from the

30 days or fraction thereof that the return is not filed or the

Department of Revenue at the time of registration. If a composite

information is not submitted (maximum 50 percent). The

return (Schedule CP) is being filed, leave account number

minimum penalty is $100. KRS 131.180(4)

blank.

Negligence—10 percent of the tax assessed. KRS 131.180(7)

If the Kentucky Corporation/LLET Account Number is not known,

telephone (502) 564–8139.

Fraud—50 percent of the tax assessed. KRS 131.180(8)

Item B—Check the box indicating the method used in

Cost of Collection Fees

determining the amount of LLET due on Schedule LLET, Section

D, Line 1. If a composite return (Schedule CP) is being filed, do

(a) 25 percent on all taxes which become due and owing for any

not complete Item B.

reporting period, regardless of when due. These collection

fees are in addition to all other penalties provided by law.

LLET Nonfiling Status Code–Return not Required

KRS 131.440(1)(a)

If the single member LLC is not required to file an LLET

(b) 25 percent on all taxes assessed and collected by the

return, enter one of the following two–digit codes in the space

Department of Revenue for taxable periods ending before

provided.

December 1, 2001. KRS 131.440(1)(b)

REASON

period for nonfiled returns eligible for amnesty. KRS

CODE

Reason

131.440(1)(c)

A property or facility which has been certified

as a fluidized bed energy production facility as

FORM 725—SPECIFIC INSTRUCTIONS

defined in KRS 211.390.

An alcohol production facility as defined in KRS

Period Covered

247.910.

A qualified investment pass–through entity as

File the 2011 return for calendar year 2011 and fiscal years that

defined in KRS 141.206(15).

begin in 2011. For a fiscal year, fill in the taxable period beginning

and ending at the top of Form 725.

All Kentucky individually owned single member LLCs must enter

Item C—If Schedule CP is being filed, see Specific Instructions

Taxable Year Ending at the top right of Form 725 and supporting

on page 8 of these instructions on what information should be

forms and schedules to indicate the ending month and year for

completed on Item C.

which the return is filed.

If filing a Form 725, Kentucky Single Member LLC Individually

Owned LLET Return, enter the following:

• A calendar year is a period from January 1 through

December 31 each year. This would be entered as:

Federal Identification Number—Enter the federal identification

number, if the single member LLC has obtained this number.

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Name and Address—Print or type the name of the single member

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LLC as set forth in the Articles of Organization. For the address,

include the suite, room or other unit number after the street

• A fiscal year is 12 consecutive months ending on the last day

address. If the U.S. Postal Service does not deliver mail to the

of any month except December. A fiscal year ending January

street address and the single member LLC has a P .O. Box, show

31, 2012, would be entered as:

the box number instead of the street address.

Telephone Number—Enter the business telephone number of

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the member.

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State and Date of Organization—Enter the entity’s state and

date of organization.

Instructions For Form 725 - Kentucky Single Member Llc Individually Owned Llet Return - 2011 Page 6

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