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Kentucky Free Printable  for 2021 Kentucky Kentucky Single Member LLC Individually Owned & LLET Return

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Kentucky Single Member LLC Individually Owned & LLET Return
Form 725

FORM 725 KENTUCKY SINGLE MEMBER LLC INDIVIDUALLY OWNED INCOME AND LLET RETURN Commonwealth of Kentucky Department of Revenue 2020 For calendar year 2020 or tax years beginning (MM-DD-YY)  __ __ – __ __ – 20__ __ , and ending (MM-DD-YY)  __ __ – __ __ – 20__ __ A LLET  B FEIN/SSN Exemption Code C Kentucky Corporation/LLET __ __ – __ __ __ __ __ __ __ Name of LLC D Provider 3-Factor Number and Street __  __  __   __  __  __ Account Number (Required)  Change of Name Telephone Number Apportionment Code City State ZIP Code E Check applicable    boxes    Initial return  Change of accounting period  Qualified investment partnership  Final return (Complete Part IV)  Short-period return (Complete Part IV)  Amended return (Complete Part V) F Single Member is a: State of Organization Principal Business Activity in KY Date of Organization NAICS Code Number in KY __  __ / __   __  __  __   Kentucky Resident   Non-Resident If non-resident, LLC must also file Form 740NP-WH PART I—KENTUCKY NET DISTRIBUTABLE INCOME 1 Ordinary income (loss) „ 1 0 0 2 Net income (loss) from rental real estate activities „ 2 0 0 3 Net income (loss) from other rental activities „ 3 0 0 4 Interest income „ 4 0 0 5 Dividend income „ 5 0 0 6 Royalty income „ 6 0 0 7 Net short-term and long-term capital gain (loss). If net loss, do not include more than $3,000. „ 7 0 0 8 IRC §1231 net gain (loss) „ 8 0 0 9 Other income (attach schedule). „ 9 0 0 10 Other deductions (attach schedule) „ 10 0 0 11 Total net distributable income (lines 1 through 9 less line 10) „ 11 0 0 12 Enter 100% or the apportionment fraction from Schedule A. „ 12  __   __  __   .  __  __  __  __ % OFFICIAL USE ONLY P W 2 0 4 V A L # 200270 41A725 (10-20) Page 1 of 6 FORM 725 (2020) Page 2 of 6 PART II—LLET COMPUTATION 1 Schedule L, Section E, line 1 (Page 6) „ 1 0 0 2 Tax credit recapture „ 2 0 0 3 Total (add lines 1 and 2) „ 3 0 0 4 Nonrefundable LLET credit from Kentucky Schedule(s) K-1 „ 4 0 0 5 Nonrefundable tax credits (attach Schedule TCS) „ 5 0 0 6 LLET liability (greater of line 3 less lines 4 and 5 or $175 minimum) „ 6 0 0 7 Estimated tax payments „ 7 0 0 8 Certified rehabilitation tax credit „ 8 0 0 9 Film industry tax credit „ 9 0 0 10 Extension payment „ 10 0 0 11 Prior year’s tax credit „ 11 0 0 12 LLET paid on original return „ 12 0 0 13 LLET overpayment on original return „ 13 0 0 14 Estimated Tax Penalty (attach Form 2220-K) „ 14 0 0 „ 15 0 0 16 16 LLET overpayment (lines 7 through 12 less lines 6,13, and 14) „ 0 0 15 LLET and Estimated Tax Penalty due (lines 6, 13, and 14 less lines 7 through 12) OWE 17 Credited to 2020 interest „ 17 18 Credited to 2020 penalty „ 18 19 Credited to 2021 LLET „ 19 20 Amount to be refunded (line 16 less lines 17 through 19) REFUND 0 0 „ 20 PART III—LLET CREDIT FOR MEMBER 1 LLET liability (Part II, the total of lines 4 and 6) 2 Minimum tax 3 Member’s LLET credit (line 1 less line 2) 200271 41A725 (10-20) „ 1   2 „ 3 0 0 1 7 5 .00 0 0 FORM 725 (2020) Page 3 of 6 PART IV—EXPLANATION OF FINAL RETURN AND/OR SHORT–PERIOD RETURN   Ceased operations in Kentucky   Change of ownership   Successor to previous business   Change in filing status  Merger   Other _________________________________________________ PART V—EXPLANATION OF AMENDED RETURN CHANGES Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Signature of Member Sign Here Paid Preparer Use Date __  __ / __  __ / __   __  __  __ Name of Member (Please print) Title Signature of Preparer Date Name of Preparer or Firm (Please print) ID Number Email and/or Telephone No. May the DOR discuss this return with this preparer? __  __ / __  __ / __   __  __  __   YES    NO Enclose All supporting federal forms and schedules, including Federal Schedule(s) C, E, and/or F. Refund or No Payment Kentucky Department of Revenue P. O. Box 856905 Louisville, KY 40285-6905 Payment Check Payable: Kentucky State Treasurer E-Pay Options: www.revenue.ky.gov With Payment Kentucky Department of Revenue Frankfort, KY 40620-0021 200272 41A725 (10-20) FORM 725 (2020) Page 4 of 6 SCHEDULE Q—SINGLE MEMBER LIMITED LIABILITY COMPANY QUESTIONNAIRE IMPORTANT: Questions 1 and 2 must be answered if this is the single member LLC’s initial return or if a return was not filed under the same name and same federal I.D. number for the preceding year. Failure to do so may result in a request for a delinquent return.  1 Single member’s (owner) name, address, and Social Security number or federal I.D. number Name __ __ – __ __ __ __ __ __ __ FEIN Address   2 If a foreign limited liability company, enter the date qualified to do business in Kentucky.       __ __ / __ __ / __ __ __ __ Questions 3—7 must be completed by all single member limited liability companies (LLC).   3 The limited liability company’s books are in care of: Name Address 4 Are disregarded entities included in this return?     Yes   No If yes, attach Schedule DE. 5 Was the limited liability company a partner in a pass-through entity doing business in Kentucky for the tax year being reported?     Yes   No If yes, list name and federal I.D. of the pass-through entity(ies). Name A FEIN __ __ – __ __ __ __ __ __ __ Name B FEIN __ __ – __ __ __ __ __ __ __ Name C FEIN __ __ – __ __ __ __ __ __ __ Name D FEIN __ __ – __ __ __ __ __ __ __ Name E FEIN __ __ – __ __ __ __ __ __ __ Name F FEIN __ __ – __ __ __ __ __ __ __ Name G FEIN __ __ – __ __ __ __ __ __ __ 6 Was the limited liability company doing business in Kentucky other than through its interest held in a pass-through entity doing business in Kentucky?    Yes   No 7 Was this return prepared on: (a)  cash basis (b)  accrual basis (c)  other  ___________________________________ 200343 41A725 (10-20) FORM 725 (2020) Page 5 of 6 SCHEDULE L—LIMITED LIABILITY ENTITY TAX COMPUTATION  Check the box and complete Schedule L-C, Limited Liability Entity Tax—Continuation Sheet, if the single member limited liability company filing this tax return is a partner or member of a limited liability pass-through entity or general partnership doing business in Kentucky. Enter the total amounts from Schedule L-C in Section A of this schedule. SECTION A—Computation of Kentucky Gross Receipts and Gross Profits 1(a) Gross receipts less returns and allowances „ 1(a) 0 0  (b) Kentucky statutory gross receipts reductions „ (b) 0 0 2 „ 2 0 0 3(a) Cost of goods sold (attach Schedule COGS) „ 3(a) 0 0  (b) Kentucky statutory cost of goods sold reductions „ (b) 0 0 4 Adjusted cost of goods sold (line 3(a) less line 3(b)) „ 4 0 0 5 Gross profits (line 2 less line 4) „ 5 0 0 Adjusted gross receipts (line 1(a) less line 1(b)) SECTION B—Computation of TOTAL Gross Receipts and Gross Profits 1 Adjusted gross receipts „ 1 0 0 2 Cost of goods sold (attach Schedule COGS) „ 2 0 0 3 Gross profits (line 1 less line 2) „ 3 0 0 If Section B, Line 1 or 3 is $3,000,000 or less, SKIP Sections C and D and enter $175 in Section E, Line 1 and then enter $175 on page 2, Part II, Line 1. Otherwise, continue to Section C on the next page. 200276 41A725 (10-20) FORM 725 (2020) Page 6 of 6 SCHEDULE L—LIMITED LIABILITY ENTITY TAX COMPUTATION—continued SECTION C—Computation of Gross Receipts LLET 1 If gross receipts from all sources (Section B, line 1) are greater than $3,000,000, but less than $6,000,000, enter the following: (Section A, line 2 x 0.00095) – [ ] $2,850 x ($6,000,000 – Section A, line 2) $3,000,000 but in no case shall the result be less than zero. „ 1 0 0 2 If gross receipts from all sources (Section B, line 1) are $6,000,000 or greater, enter the following: Section A, line 2 x 0.00095. „ 2 0 0 3 Enter the amount from line 1 or line 2. „ 3 0 0 SECTION D—Computation of Gross Profits LLET 1 If gross profits from all sources (Section B, line 3) are greater than $3,000,000, but less than $6,000,000, enter the following: [ ] (Section A, line 5 x 0.0075) – $22,500 x ($6,000,000 – Section A, line 5) $3,000,000 but in no case shall the result be less than zero. „ 1 0 0 2 If gross profits from all sources (Section B, line 3) are $6,000,000 or greater, enter the following: Section A, line 5 x 0.0075. „ 2 0 0 3 Enter the amount from line 1 or line 2. „ 3 0 0 „ 1 0 0 SECTION E—Computation of LLET 1 Enter the lesser of Section C, line 3 or Section D, line 3 here and on Page 2, Part II, line 1. If less than $175, enter the minimum of $175 here and on Page 2, Part II, line 1. 200273 41A725 (10-20)
Extracted from PDF file 2020-kentucky-form-725.pdf, last modified September 2020

More about the Kentucky Form 725 Corporate Income Tax Tax Return TY 2020

This informational tax return is for single-member LLCs in Kentucky. Simple tax returns can be filed with the basic version of this form, Form 725-EZ.

We last updated the Kentucky Single Member LLC Individually Owned & LLET Return in February 2021, so this is the latest version of Form 725, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form 725 directly from TaxFormFinder. You can print other Kentucky tax forms here.

Related Kentucky Corporate Income Tax Forms:

TaxFormFinder has an additional 129 Kentucky income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Kentucky Form 725.

Form Code Form Name
Schedule CP Form 725 Kentucky Single Member LLC Individually Owned Composite Return

Download all KY tax forms View all 130 Kentucky Income Tax Forms


Form Sources:

Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Form 725 from the Department of Revenue in February 2021.

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Form 725 is a Kentucky Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Kentucky Form 725

We have a total of eight past-year versions of Form 725 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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