Kentucky Individual Income Tax Forms - Kentucky Department Of Revenue - 2012 Page 32
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76Form 740-EZ (2012)
Page 2
INSTRUCTIONS—FORM 740-EZ
Who May Use Form 740-EZ—You may use Form 740-EZ if all five
Enter in the space provided the decimal amount from the following
of the following apply:
table.
you were a Kentucky resident for the entire year;
Family Size
Percent of Tax
you are filing federal Form 1040EZ;
One
as Family Size Tax Credit
your filing status is single;
If the Kentucky modified
Enter decimal amount
gross income (Line 1) is:
on Line 7
you do not claim additional credits for being age 65 or over,
blind, or a member of the Kentucky National Guard at the end
over
but not over
of 2012; and
$
0
$11,170 ...................... 1.00
(100%)
you had only wages, salaries, tips, unemployment compensation,
$11,170
$11,617 ...................... 0.90
(90%)
taxable scholarship or fellowship grants, and your taxable
$11,617
$12,064 ...................... 0.80
(80%)
interest was $1,500 or less.
$12,064
$12,510 ...................... 0.70
(70%)
If you do not meet all five of the above requirements, see Form
$12,510
$12,957 ...................... 0.60
(60%)
740 instructions.
$12,957
$13,404 ...................... 0.50
(50%)
$13,404
$13,851 ...................... 0.40
(40%)
$13,851
$14,186 ...................... 0.30
(30%)
When to File—The 2012 Form 740-EZ must be postmarked no later
$14,186
$14,521 ...................... 0.20
(20%)
than April 15, 2013, to avoid penalties and interest.
$14,521
$14,856 ...................... 0.10
(10%)
Social Security Number—You are required to provide your social
security number per Section 405, Title 42, of the United States
Multiply amount on Line 6 by decimal amount. Enter result on Line
Code. This information will be used to establish your identity for
7. This is your Family Size Tax Credit.
tax purposes only.
Line 9, Kentucky Use Tax—Enter 6 percent of out-of-state purchases
for use in Kentucky on which sales tax was not charged. Include
COMPLETING FORM 740-EZ—For more information, see the General
Internet and catalog purchases, subscriptions, furniture, carpet,
Instructions. You may also contact the Department of Revenue in
boats, etc.
Frankfort at (502) 564-4581 or a Kentucky Taxpayer Service Center.
Line 11, Kentucky Tax Withheld—Enter the amount of Kentucky
Please print your numbers inside the boxes with black ink. Do not
income tax withheld as shown on your 2012 wage and tax
statements. These statements must be attached to your return.
use dollar signs.
Make sure you file the copy designated to be filed with your state
return. Do not include amounts withheld by your employer for other
Political Party Fund Designation—You may designate $2 of your
states. Amounts withheld in other states cannot be credited to your
taxes to either the Democratic or Republican party if you have a
Kentucky income tax. Local government occupational, license or
tax liability of at least $2.
income taxes must not be included on Line 11.
LINE-BY-LINE INSTRUCTIONS
Line 12—If the amount on Line 11 (Kentucky Tax Withheld) is
more than the amount on Line 10 (Total Tax Liability), you have an
Line 1—Enter federal adjusted gross income from Form 1040EZ,
overpayment and are due a refund. Subtract Line 10 from Line 11,
Line 4. (Do not confuse federal adjusted gross income with federal
and enter the difference on Line 12 as an overpayment. However,
taxable income shown on the federal return.) If $14,856 or less, see
if your Total Tax Liability on Line 10 is larger than Line 11, you owe
instructions for Line 7 and enter the decimal amount on Line 7.
additional tax. Subtract Line 11 from Line 10 and enter on Line 16.
Line 13—If you show an overpayment on Line 12, you may
If you are not required to file a federal income tax return, enter the
contribute to: (a) the Nature and Wildlife Fund, (b) the Child
total income from sources within and without Kentucky.
Victims’ Trust Fund, (c) the Veterans’ Program Trust Fund and/
or (d) the Breast Cancer Research and Education Trust Fund.
Line 2—The standard deduction of $2,290 has been preprinted. If
Donations are voluntary and amounts donated will be deducted
your itemized deductions exceed $2,290, it will benefit you to file
from your refund.
Form 740 and itemize your deductions on Schedule A.
Enter the amount(s) you wish to contribute on Lines 13(a), 13(b),
Line 4—Compute your tax using the following tax rate schedule.
13(c) and/or 13(d). The total of these amounts cannot exceed the
amount of the overpayment.
If taxable income is:
Tax before credit is:
Line 16—You must pay any tax due shown on Line 16. Make check
$
0 — $3,000 ................ 2% of taxable income
payable to Kentucky State Treasurer, and attach it to your return.
On the face of the check, please write “KY Income Tax–2012” and
$3,001 — $4,000 ................ 3% of taxable income minus $30
your Social Security number.
$4,001 — $5,000 ................ 4% of taxable income minus $70
Underpayment of Estimated Tax—If the amount owed is more
$5,001 — $8,000 ................ 5% of taxable income minus $120
than 30 percent of the income tax liability on Line 8, you may be
$8,001 — $75,000 ................ 5.8% of taxable income minus $184
subject to a penalty of 10 percent of the underpayment of estimated
tax. The minimum penalty is $25. The amount of the penalty may
$75,001 and up ..................... 6% of taxable income minus $334
be calculated on Form 2210-K, which may be obtained from the
Example: (Taxable income) $8,500 x 5.8% – $184 = $309
Department of Revenue.
Note: An optional tax table is available online at
Interest and Penalties—File your return and pay any additional
or by calling the Department of Revenue, (502) 564-4581.
tax due by April 15, 2013 to avoid interest and penalties. See the
General Instructions or contact the Department of Revenue for
Line 7, Family Size Tax Credit—For single persons eligible to file
additional information.
Form 740-EZ, Kentucky family size is one and Kentucky modified
gross income is equal to federal adjusted gross income. A family
Note: Penalties but not interest may be reduced or waived if
size tax credit is allowed for single persons whose Kentucky
reasonable cause can be shown.
modified gross income is not over $14,856. If over $14,856, you do
Signature—Each return must be properly signed by the taxpayer.
not qualify for this tax credit. Skip Line 7.
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