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Kentucky Free Printable  for 2020 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 *1900030270* Commonwealth of Kentucky Department of Revenue 2019  See instructions. Taxable period beginning  _______________ ,  20 ____ , and ending  _______________ ,  20 ____ . A B FEIN/SSN LLET  Exemption Code Enter Code ___ ___ ___ ___ ___ ___ ___ ___ ___ C Name of LLC   Change of Name Taxable Year Ending M _____ _____ M Y Y State and Date of Organization Number and Street Principal Business Activity in KY City State ZIP Code Telephone Number NAICS Code Number in KY (See www.census.gov) D  Check if applicable:   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) E  Is Single Member a...   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 2 Net income (loss) from rental real estate activities................................ 2 3 Net income (loss) from other 00 1 2 3 00 4 00  4 Interest income............................... 4 00 5 Dividend income............................. 5 00 00 7 Net short-term and long-term capital gain (loss). If net (loss), do not include more than ($3,000)............................................ 7 00  8 IRC §1231 net gain (loss)................ 8 00 9 00 10 Other deductions (attach schedule) 10 00 9 Other income (attach schedule)....... 11 Total net distributable income (lines 1 through 9 less line 10)....... 11 00 12 Enter 100% or the apportionment fraction from Schedule A. (see instructions)............................. 12 % Schedule L, Section D, line 1 (Page 4). 1 Tax credit recapture........................ 2 Total (add lines 1 and 2)................. 3 Nonrefundable LLET credit from Kentucky Schedule(s) K-1............... 4 5 Nonrefundable tax credits (attach Schedule TCS).................................. 5  6 LLET liability (greater of line 3 less lines 4 and 5 or $175 minimum)........................................ 6 7 Estimated tax payments................. 7 8 Certified rehabilitation tax credit... 8 9 Film industry tax credit................... 9 10 Extension payment......................... 10 11 Prior year’s tax credit...................... 11 12 LLET paid on original return.......... 12 13 LLET overpayment on original return............................................... 13 14 LLET due (lines 6 and 13 less lines 7 through 12)................................... 14 15 LLET overpayment (lines 7 through 12 less lines 6 and 13)...... 15 16 Credited to 2019 Interest................. 16 17 Credited to 2019 Penalty................. 17 18 Credited to 2020 LLET..................... 18 19 Amount to be refunded.................. 19 INCOME 1 LLET due (Part II, Line 14) 1 Income Tax . $___________________ Due . $___________________ 2 Interest . $___________________ 2 Interest . $___________________ 3 Penalty . $___________________ 3 Penalty . $___________________ 4 Subtotal . $___________________ 4 Subtotal . $___________________ . TOTAL PAYMENT (Add Subtotals)................................. $______________________ 41A725 (10-19) 1111 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 OFFICIAL USE ONLY TAX PAYMENT SUMMARY LLET Provider 3-Factor Apportionment Code PART II—LLET COMPUTATION rental activities................................ 3 6 Royalty income............................... 6 F P W 2 0 4 V A L # Page 1 of 4 *1900030271* FORM 725 (2019) Page 2 of 4 PART III—LLET CREDIT FOR MEMBER   1 LLET liability (Part II, the total of lines 4 and 6).................................................................................. 1   2 Minimum tax......................................................................................................................................... 2   3 Member’s LLET credit (line 1 less line 2)............................................................................................ 3 175 00 00 00 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. Sign Here Paid Preparer Use Signature of Member Date Name of Member Title Signature of Preparer Date Name of Preparer or Firm 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 P. O. Box 856910 Louisville, KY 40285-6910 41A725 (10-19) FORM 725 (2019) *1900030343* Page 3 of 4 SCHEDULE Q—SINGLE MEMBER LIMITED LIABILITY COMPANY QUESTIONNAIRE IMPORTANT: Questions 3—10 must be completed by all single member limited liability companies (LLC). If this is the single member LLC’s initial return or if the single member LLC did not file a return under the same name and same federal I.D. number for the preceding year, questions 1 and 2 must be answered. 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  _________________________ _______________________________________________________ _______________________________________________________ 2 If a foreign limited liability company, enter the date qualified to do business in Kentucky.   __ __ / __ __ / __ __   3 List the following Kentucky account numbers.  Enter N/A for any number not applicable. KY Secretary of State Organization_______________________ Nonresident Income Tax Withholding_____________________ Employer Withholding  _________________________________ Sales and Use Tax Permit  _______________________________ Consumer Use Tax  _____________________________________ Unemployment Insurance  ______________________________ Coal Severance and/or Processing Tax____________________   4 The limited liability company’s books are in care of: (name and address) _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________   5 Are disregarded entities included in this return?    Yes   No If yes, list name, address, and federal I.D. number of the entity(ies). _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________   6(a) 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). _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ 41A725 (10-19) 6(b) 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 Is the entity filing this Kentucky tax return organized as a statutory trust or a series statutory trust per KRS Chapter  Yes   No 386A?   If yes, is the entity filing this Kentucky tax return a series within a statutory trust?    Yes   No If yes, enter the name, address, and federal I.D. number of the statutory trust registered with the Kentucky Secretary of State:_______________________________________________   8 Was this return prepared on: (a)  cash basis, (b)  accrual basis, (c)  other   ______________________________________ 9 Did the limited liability company file a Kentucky tangible personal property tax return for January 1, 2020?    Yes   No If yes, list the name and federal I.D. number of entity(ies) filing return(s):_________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________  10 Is the single member limited liability company currently under audit by the Internal Revenue Service?    Y   es    No If yes, enter years under audit  _______________________________________________________ If the Internal Revenue Service has made final and unappealable adjustments to the LLC’s taxable income which have not been repor ted to this depar tment, c h e c k h e r e    a n d f i l e a n a m e n d e d F o r m 7 2 5 for each year adjusted. Attach a copy of the final determination to each amended return. FORM 725 (2019) *1900030276* Page 4 of 4 SCHEDULE L—LIMITED LIABILITY ENTITY TAX COMPUTATION  Check this box and complete Schedule L-C, Limited Liability Entity Tax—Continuation Sheet, if the corporation or limited liability pass-through entity 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 Gross Receipts and Gross Profits Column A Kentucky 1(a)  (b) 2 3(a)  (b) 4 5 Gross receipts less returns and allowances............................................. 1(a) Kentucky statutory gross receipts reductions (see instructions)............  (b) Adjusted gross receipts (line 1(a) less line 1(b))....................................... 2 Cost of goods sold (attach Schedule COGS)............................................. 3(a) Kentucky statutory cost of goods sold reductions (see instructions).....   (b) Adjusted cost of goods sold (line 3(a) less line 3(b))............................... 4 Gross profits (line 2 less line 4).................................................................. 5 00 00 00 00 00 00 00 If Section A, Column B, Line 2 or 5 is $3,000,000 or less, STOP and enter $175 in Section D, line 1 below. SECTION B—Computation of Gross Receipts LLET 1 If gross receipts from all sources (Column B, line 2) are greater than $3,000,000, but less than $6,000,000, enter the following: (Column A, line 2 x 0.00095) – $2,850 x ($6,000,000 – Column A, line 2) $3,000,000 but in no case shall the result be less than zero.............................................. 1 2 If gross receipts from all sources (Column B, line 2) are $6,000,000 or greater, enter the following: Column A, line 2 x 0.00095............................ 2 [ ] 3 Enter the amount from line 1 or line 2.............................................................. 3 00 00 00 SECTION C—Computation of Gross Profits LLET 1 If gross profits from all sources (Column B, line 5) are greater than $3,000,000, but less than $6,000,000, enter the following: (Column A, line 5 x 0.0075) – $22,500 x ($6,000,000 – Column A, line 5) $3,000,000 but in no case shall the result be less than zero................................................. 1 00 2 If gross profits from all sources (Column B, line 5) are $6,000,000 or greater, enter the following: Column A, line 5 x 0.0075............................. 2 00 3 Enter the amount from line 1 or line 2.............................................................. 3 00 [ ] SECTION D—Computation of LLET 1 Enter the lesser of Section B, line 3 or Section C, line 3 here and on Page 1, Part II, line 1. If less than $175, enter the minimum of $175 here and on Page 1, Part II, line 1............................................................................................. 1 41A725 (10-19) 00 Column B Total 00 00 00 00 00
Extracted from PDF file 2019-kentucky-form-725.pdf, last modified September 2019

More about the Kentucky Form 725 Corporate Income Tax Tax Return TY 2019

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 March 2020, so this is the latest version of Form 725, fully updated for tax year 2019. 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 March 2020.

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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 seven 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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