Form 740np-Wh-P - Underpayment And Late Payment Of Estimated Tax On Form 740np-Wh printable pdf download

Form 740np-Wh-P - Underpayment And Late Payment Of Estimated Tax On Form 740np-Wh

740NP-WH-P

*1200020333*

Taxable Year Ending

40A201-WHP (10-12)

__ __ / __ __

Commonwealth of Kentucky

Mo.

Yr.

DEPARTMENT OF REVENUE

UNDERPAYMENT AND LATE PAYMENT

➤ See instructions.

OF ESTIMATED TAX ON FORM 740NP-WH

➤ Attach to Form 740NP-WH.

Name of Pass-through Entity

Federal Identification Number

Kentucky Corporation/LLET

Account Number (if applicable)

PART I—FIGURING THE UNDERPAYMENT AND PENALTY

(1) Enter the number of individual partners, members or shareholders

whose income tax liability on Form 740NP-WH, line 9 exceeds $500 .................. 1

(2) Enter the number of corporate partners or members whose income tax

liability on Form 740NP-WH, line 9 exceeds $5,000 ............................................... 2

(3) Enter the income tax liability from Form 740NP-WH,

line 9 ........................................................................................................................... 3

(4) Percentage of liability required to be prepaid is 70% ............................................ 4

x.70

(5) Multiply line 3 by line 4 ............................................................................................ 5

(6) Statutory exemption (number of corporate partners or members

on line 2 multiplied by $5,000) ................................................................................. 6

(7) Enter the total tax payments from Form 740NP-WH,

lines 10 and 12 ........................................................................................................... 7

(8) Line 5 less lines 6 and 7 ............................................................................................ 8

(9) Penalty percentage is 10% ....................................................................................... 9

x.10

(10) Multiply line 8 by line 9. This is the amount of the penalty for underpayment

of estimated tax (minimum penalty $25). Enter on this line and on

Form 740NP-WH, Tax Payment Summary .............................................................. 10

Form 740np-Wh-P - Underpayment And Late Payment Of Estimated Tax On Form 740np-Wh