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SCHEDULE KJRA

*1200020293*

For taxable year ended

__ __ / __ __

41A720-S45 (10-12)

Mo.

Yr.

Commonwealth of Kentucky

DEPARTMENT OF REVENUE

REDIT

OMPUTATION

CHEDULE

➤ See instructions.

A KJRA PROJECT O

A C

)

ORPORATION

➤ Attach to Form 720.

KRS 154.25-010 to 050

Name of Corporation

Federal Identification Number

Kentucky Corporation/LLET

Account Number

__ __ — __ __ __ __ __ __ __

__ __ __ __ __ __

Location of Project

Activation Date of KJRA

Economic Development

Incentive Agreement

Project Number

City

County

Mo.

Day

Yr.

PART I—Computation of LLET Excluding KJRA Project

1. LLET from Form 720, Part I, line 1 .......................................................................................................

2. LLET on KJRA project (see instructions) ............................................................................................

3. LLET excluding LLET on KJRA project (line 1 less line 2) .................................................................

PART II—Computation of Taxable Net Income Excluding Net Income from KJRA Project and KJRA Tax Credit

Section A–Computation of Corporation Tax

1. Enter income tax from Form 720, Part II, line 1 .................................................................................

2. LLET of corporation (Part I, line 1) ......................................................................................................

3. LLET credit allowed (line 2 less $175, but not more than line 1) ......................................................

4. Total corporation tax (lines 1 and 2 less line 3) .................................................................................

Section B–Computation of Tax Excluding KJRA Project

1. Enter taxable net income from Form 720, Part III, line 25 .................................................................

2. Enter net income from KJRA project; if loss, enter -0- ......................................................................

3. Taxable net income excluding net income from KJRA project (line 1 less line 2). If line 2 is

greater than line 1, enter -0- ................................................................................................................

4. Corporation income tax on amount from line 3:

Taxable Net Income

Rate

Tax

(a) First $50,000 ........................

X 4%

(b) Next $50,000 .......................

X 5%

X 6%

(d) Total income tax liability excluding KJRA project (add lines 4(a) through 4(c)) ...................... 4(d)

5. LLET excluding LLET on KJRA project (Part I, line 3) ........................................................................

6. Enter LLET from line 5 less $175, but not more than line 4(d) .........................................................

7. Total tax excluding KJRA project (lines 4(d) and 5 less line 6) .........................................................

8. Total tax attributable to KJRA project (Section A, line 4 less Section B, line 7)

Continue to Part III and enter this amount on Part III, line 1 .............................................................

PART III—Limitation

1. Enter tax liability attributable to KJRA project from Part II, Section B, line 8 .................................

2. Enter limitation from Schedule KJRA-T, Column F ...........................................................................

3. Allowable KJRA tax credit (lesser of line 1 or line 2) ........................................................................

Enter allowable credit on Schedule TCS, Part I, Column E and Column F

➤ Economic development project means a project authorized under the Kentucky Rural Economic Development Act (KREDA),

Metropolitan College Consortium Tax Credit (MCC), Kentucky Small Business Investment Credit Program (KSBIC), Kentucky

Industrial Development Act (KIDA), Kentucky Economic Opportunity Zone Act (KEOZ), Kentucky Jobs Retention Agreement

(KJRA), Kentucky Industrial Revitalization Act (KIRA), Kentucky Jobs Development Act (KJDA), Kentucky Business Investment

Program (KBI), Kentucky Reinvestment Act (KRA), Skills Training Investment Credit Act (STICA) and Incentives for Energy

Independence Act (IEIA).

Schedule Kjra - Tax Credit Computation Schedule (For A Kjra Project Of A Corporation)

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