Form 41a765(I) - Kentucky Partnership Income And Llet Return Instructions - 2011 Page 7
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20(b) 25 percent on all taxes assessed and collected by the
LLET Nonfiling Status Code—Return Not Required
Department of Revenue for taxable periods ending before
December 1, 2001. KRS 131.440(1)(b)
If the partnership is not required to file an LLET return, enter one
of the following two–digit codes in the space provided.
(c) 50 percent of any tax deficiency assessed after the amnesty
period for nonfiled returns eligible for amnesty. KRS
131.440(1)(c)
FORM 765—SPECIFIC INSTRUCTIONS
REASON
Period Covered
CODE
Reason
File the 2011 return for calendar year 2011 and fiscal years that
begin in 2011. For a fiscal year, fill in the taxable period beginning
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A property or facility which has been certified
and ending at the top of Form 765.
as a fluidized bed energy production facility as
defined in KRS 211.390.
All partnerships must enter Taxable Year Ending at the top right
of Form 765 and supporting forms and schedules to indicate the
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An alcohol production facility as defined in KRS
ending month and year for which the return is filed.
247.910.
• A calendar year is a period from January 1 through
20
A publicly traded partnership as defined in
December 31 each year. This would be entered as:
Section 7704(b) of the Internal Revenue Code
that is treated as a partnership for federal tax
purposes under Section 7704(c) of the Internal
Revenue Code, or its publicly traded partnership
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affiliates. “Publicly traded partnership affiliates”
shall include any limited liability company or
Mo.
Yr.
limited partnership for which at least eighty
percent (80%) of the limited liability company
member interests or limited partner interests are
owned directly or indirectly by the publicly traded
• A fiscal year is 12 consecutive months ending on the last day
partnership.
of any month except December. A fiscal year ending January
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A qualified investment pass-through entity as
31, 2012, would be entered as:
defined in KRS 141.206(15).
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Mo.
Yr.
Item C—Income Return Nonfiling Status Code—Return Not
Required
• A 52/53-week year is a fiscal year that varies between 52 and
53 weeks. Example: A 52/53-week year ending the first week
of January 2012, would be entered as:
If the partnership is not required to file a Kentucky partnership
income return, enter the following two-digit code in the space
provided.
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Mo.
Yr.
REASON
CODE
Reason
Failure to properly reflect the Taxable Year Ending may result
in delinquency notices or billings for failure to file.
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This return contains only the LLET as the
partnership is exempt from filing a Kentucky
Item A—Enter the six-digit Kentucky Corporation/LLET Account
income return as provided by Public Law 86-
Number on the applicable line at the top of each form and
272.
schedule and on all checks and correspondence. This number
was included in correspondence received from the Department
of Revenue at the time of registration.
Item B—Check the box indicating the method used in
Item D—Enter the partnership’s federal identification number.
determining the amount of LLET due on the Schedule LLET,
See federal Publication 583 if the partnership has not obtained
Section D, Line 1.
this number.
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