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Kentucky Free Printable  for 2022 Kentucky Kentucky Pass-Through Entity Income and LLET Return

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Kentucky Pass-Through Entity Income and LLET Return
Form PTE

FORM PTE KENTUCKY PASS-THROUGH ENTITY INCOME AND LLET RETURN Commonwealth of Kentucky Department of Revenue 2021 For calendar year 2021 or tax years beginning (MM-DD-YY)  __ __ – __ __ – 20__ __ , and ending (MM-DD-YY)  __ __ – __ __ – 20__ __ C Kentucky Corporation/LLET Account Number (Required) B FEIN/SSN A Entity Type __ __ – __ __ __ __ __ __ __  Partnership  S Corporation   General Partnership Name of Pass-Through Entity D Number and Street LLET  Exemption Code __  __  __   __  __  __  Change of Name Telephone Number State of Organization City State ZIP Code   E Income Tax Exemption Code F Provider 3-Factor Apportionment Code Date of Organization __  __ / __   __  __  __ G Check applicable boxes Principal Business Activity in KY  Publicly traded partnership  Initial return  Qualified investment partnership  Change of accounting period  LLC  Amended return (Complete Part V)  LP  Short-period return (Complete Part IV)  LLP  Final return (Complete Part IV) NAICS Code Number in KY H K-1 and Owner Information Schedule(s) K-1 Issued Other Type of Owners Resident Owners Schedule(s) K-1 Received Nonresident Owners PART I—ORDINARY INCOME (LOSS) COMPUTATION „ 1 0 0 2 State taxes based on net/gross income „ 2 0 0 3 Federal depreciation (do not include IRC § 179 expense deduction) „ 3 0 0 4 Related party expense (attach Schedule RPC) „ 4 0 0 5 (Loss) from Form 4797 found on federal Form 1120S, line 4 or federal Form 1065, line 6 „ 5 0 0 6 Gain from Kentucky Form 4797, line 17 „ 6 0 0 7 Federal allowable depletion from Form 1120S, line 15 or Form 1065, line 17 „ 7 0 0 8 Enter additions to federal taxable income from Kentucky Schedule(s) K-1. „ 8 0 0 1 Federal ordinary income (loss) ADDITIONS TO FEDERAL ORDINARY INCOME OFFICIAL USE ONLY P W 2 0 4 V A L # 210381 41APTE (10-21) Page 1 of 11 FORM PTE (2021) Page 2 of 11 PART I—ORDINARY INCOME (LOSS) COMPUTATION—continued 9 Internal Revenue Code adjustments (see instructions) „ 9 0 0 10 Other additions (attach explanation) „ 10 0 0 11 Total (add lines 1 through 10) „ 11 0 0 12 Federal work opportunity credit „ 12 0 0 13 Kentucky depreciation (do not include IRC § 179 expense deduction) „ 13 0 0 14 Gain from Form 4797 found on federal Form 1120S, line 4 or federal Form 1065, line 6 „ 14 0 0 15 (Loss) from Kentucky Form 4797, line 17 „ 15 0 0 16 Kentucky allowable depletion „ 16 0 0 17 Enter subtractions from federal taxable income from Kentucky Schedule(s) K-1. „ 17 0 0 18 Internal Revenue Code adjustments (see instructions) „ 18 0 0 19 Other subtractions (attach explanation) „ 19 0 0 20 Total subtractions (add lines 12 through 19) „ 20 0 0 21 Kentucky ordinary income (loss) (line 11 less line 20) „ 21 0 0 SUBTRACTIONS FROM FEDERAL ORDINARY INCOME 210382 41APTE (10-21) FORM PTE (2021) Page 3 of 11 PART II—LLET COMPUTATION 1 Schedule L, Section E, line 1 (Page 11) „ 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 Income tax overpayment from Part III, line 13 „ 12 0 0 13 LLET paid on original return „ 13 0 0 14 LLET overpayment on original return „ 14 0 0 15 Estimated Tax Penalty (attach Form 2220-K) „ 15 0 0 „ 16 0 0 17 LLET overpayment (lines 7 through 13 less lines 6, 14, and 15) „ 17 0 0 18 Credited to 2021 income tax „ 18 0 0 19 Credited to 2021 interest „ 19 20 Credited to 2021 penalty „ 20 21 Credited to 2022 LLET „ 21 16 LLET and Estimated Tax Penalty due (lines 6,14, and 15 less lines 7 through 13) 22 Amount to be refunded (line 17 less lines 18 through 21) 210383 41APTE (10-21) TAX DUE REFUND „ 22 0 0 FORM PTE (2021) Page 4 of 11 PART III—INCOME TAX COMPUTATION (For S-Corporations or Partnerships)  By checking the box, the Partnership elects to pay the tax on behalf of its partners due to an IRS audit per KRS 141.211(4). 1 Excess net passive income tax „ 1 0 0 2 Built-in gains tax „ 2 0 0 3 Tax installment on LIFO recapture „ 3 0 0 4 Total (add lines 1 through 3, but not less than zero) „ 4 0 0 5 Estimated tax payments „ 5 0 0 6 Extension payment „ 6 0 0 7 Prior year’s tax credit „ 7 0 0 8 LLET overpayment from Part II, line 18 „ 8 0 0 9 Income tax paid on original return „ 9 0 0 10 Income tax overpayment on original return „ 10 0 0 „ 11 0 0 12 Income tax overpayment (lines 5 through 9 less lines 4 and 10) „ 12 0 0 13 Credited to 2021 LLET „ 13 0 0 14 Credited to 2021 interest „ 14 15 Credited to 2021 penalty „ 15 16 Credited to 2022 corporation income tax „ 16 11 Income tax due (lines 4 and 10 less lines 5 through 9) 17 Amount to be refunded (line 12 less lines 13 through 16) 210384 41APTE (10-21) TAX DUE REFUND „ 17 0 0 FORM PTE (2021) Page 5 of 11 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  Enclose All supporting federal forms and schedules, including Federal Schedule(s) C, E, and/or F. Refund or No Payment Kentucky Department of Revenue Frankfort, KY 40618-0010 Payment Check Payable: Kentucky State Treasurer E-Pay Options: www.revenue.ky.gov With Payment Kentucky Department of Revenue Frankfort, KY 40620-0021 210385 41APTE (10-21) NO FORM PTE (2021) Page 6 of 11 SCHEDULE Q—QUESTIONNAIRE IMPORTANT: Questions 1 and 2 must be answered if this is the pass-through entity’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 Indicate whether: (a)    new business (b)    successor to previously existing business _ which was organized as: (1)   corporation; (2)   partnership; (3)    sole proprietorship; or, (4)   other ____________________________ ________________________________________ ________________________________________ If successor to previously existing business, give name, address, and federal I.D. number of the previous business organization. Name __ __ – __ __ __ __ __ __ __ FEIN Address 4 Are disregarded entities included in this return?   Yes   No If yes, attach Schedule DE. 5 For the taxable period being reported, was the pass-through entity a partner or member in a passthrough entity doing business in Kentucky?   Yes   No If yes, list the name(s) and federal I.D. number(s) of the pass-through entity(ies). A Name FEIN B Name FEIN C F Questions 3–7 must be completed by all pass-through entities. 3 The pass-through entity’s books are in care of: Name Address G __ __ – __ __ __ __ __ __ __ Name FEIN __ __ / __ __ / __ __ __ __ __ __ – __ __ __ __ __ __ __ Name FEIN  2 If a foreign pass-through entity, enter the date qualified to do business in Kentucky. __ __ – __ __ __ __ __ __ __ Name FEIN E __ __ – __ __ __ __ __ __ __ Name FEIN D __ __ – __ __ __ __ __ __ __ __ __ – __ __ __ __ __ __ __ Name FEIN __ __ – __ __ __ __ __ __ __ 6 For taxable period being reported, was the passthrough entity 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  ___________________________________ _______________________________________________ _______________________________________________ 210386 41APTE (10-21) FORM PTE (2021) Page 7 of 11 SCHEDULE K—OWNER’S SHARE OF INCOME, CREDITS, DEDUCTIONS, ETC. Total Amount SECTION A—Income (Loss) and Deductions 1 Kentucky ordinary income (loss) from trade or business activites (Page 2, Part I, line 21) „ 1 0 0 2 Net income (loss) from rental real estate activities (attach federal Form 8825) „ 2 0 0 3 (a) Gross income from other rental activities „ 3(a) 0 0 (b) Less expenses from other rental activities (attach schedule) „ (b) 0 0 (c) Net income (loss) from other rental activities (line 3(a) less line 3(b)) „ (c) 0 0 (a) Interest income „ 4(a) 0 0 (b) Dividend income „ (b) 0 0 (c) Royalty income „ (c) 0 0 (d) Net short-term capital gain (loss) (attach federal Schedule D and Kentucky Schedule D, if applicable.) „ (d) 0 0 (e) Net long-term capital gain (loss) (attach federal Schedule D and Kentucky Schedule D, if applicable.) „ (e) 0 0 (f) Other portfolio income (loss) (attach schedule) „  (f) 0 0 5 Partnerships Only: Guaranteed payments to partners „ 5 0 0 6 IRC § 1231 net gain (loss) (other than due to casualty or theft)(attach federal Form 4797 and Kentucky Form 4797) „ 6 0 0 7 Other income (loss) (attach schedule) „ 7 0 0 8 Charitable contributions (attach schedule) „ 8 0 0 9 IRS § 179 expense deduction (attach federal Form 4562 and Kentucky Form 4562) „ 9 0 0 10 Deductions related to portfolio income (loss) (attach schedule) „ 10 0 0 11 Other deductions (attach schedule) „ 11 0 0 4 Portfolio income (loss): 210387 41APTE (10-21) FORM PTE (2021) Page 8 of 11 SCHEDULE K—OWNER’S SHARE OF INCOME, CREDITS, DEDUCTIONS, ETC.—continued Total Amount SECTION A—Income (loss) and Deductions (continued) Investment Interest Interest expense on investment debts „ 12(a) 0 0 (b)(1) Investment income included on Section A, lines 4(a), 4(b), 4(c), and 4(f) „ (b)(1) 0 0 „ (b)(2) 0 0 (a) ______________________________________________ „ 13(a) 0 0 (b) ______________________________________________ „  (b) 0 0 (c) ______________________________________________ „  (c) 0 0 14 Certified rehabilitation tax credit (attach Kentucky Heritage Council certification(s)) „ 14 0 0 15 Film industry tax credit (attach Kentucky Film Office certification(s)) „ 15 0 0 16 (a) Type of IRC §59(e)(2) expenditures   (b) Amount of IRC §59(e)(2) expenditures „ 16(b) 0 0 17 Tax-exempt interest income „ 17 0 0 18 Other tax-exempt income „ 18 0 0 19 Nondeductible expenses „ 19 0 0 20 Property distributions (including cash) other than dividend distributions reported to you on Form 1099-DIV „ 20 0 0 21 Supplemental information required to be reported to each owner (attach schedule) „ 21 0 0 22 S-corporations only: Total dividend distributions paid from accumulated earnings and profits „ 22 0 0 12 (a) (b)(2) Investment expenses included on Section A, line 10 Non-Refundable Tax Credits (see instructions) 13 Enter the applicable tax credit: GENERAL PARTNERSHIPS ONLY—Refundable Tax Credits Other Items 210388 41APTE (10-21) FORM PTE (2021) Page 9 of 11 SCHEDULE K—OWNER’S SHARE OF INCOME, CREDITS, DEDUCTIONS, ETC.—continued SECTION B—LLET Pass-through Items (Required) 1 Kentucky gross receipts from Schedule L, Section A, line 2 „ 1 0 0 2 Total gross receipts from Schedule L, Section B, line 1 „ 2 0 0  3 Kentucky gross profits from Schedule L, Section A, line 5 „ 3 0 0  4 Total gross profits from Schedule L, Section B, line 3 „ 4 0 0 „ 5 0 0 1 Kentucky receipts from Schedule A, Part I, line 1 „ 1 0 0 2 Total receipts from Schedule A, Part I, line 2 „ 2 0 0 1 Kentucky property from Schedule A, Part I, line 5 „ 1 0 0 2 Total property from Schedule A, Part I, line 6 „ 2 0 0  3 Kentucky payroll from Schedule A, Part I, line 8 „ 3 0 0  4 Total payroll from Schedule A, Part I, line 9 „ 4 0 0 5 Limited liability entity tax (LLET) nonrefundable credit from page 3, Part II, the total of lines 4 and 6, less $175 SECTION C—Apportionment Pass-through Items SECTION D—Apportionment for Providers (KRS 141.121(1)(e)) 210389 41APTE (10-21) FORM PTE (2021) Page 10 of 11 SCHEDULE L—LIMITED LIABILITY ENTITY TAX COMPUTATION  Check the box and complete Schedule L-C, Limited Liability Entity Tax—Continuation Sheet, if the limited liability passthrough 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 Kentucky Gross Receipts and Gross Profits 1(a) Gross receipts less returns and allowances (b) Kentucky statutory gross receipts reductions 2 Adjusted gross receipts (line 1(a) less line 1(b)) 3(a) Cost of goods sold (attach Schedule COGS) (b) Kentucky statutory cost of goods sold reductions „ 1(a) 0 0 „ (b) 0 0 „ 2 0 0 „ 3(a) 0 0 „ (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 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 3, Part II, Line 1. Otherwise, continue to Section C on the next page. 210390 41APTE (10-21) FORM PTE (2021) Page 11 of 11 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 „ 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 but in no case shall the result be less than zero. SECTION E—Computation of LLET 1 Enter the lesser of Section C, line 3 or Section D, line 3 here and on Page 3, Part II, line 1. If less than $175, enter the minimum of $175 here and on Page 3, Part II, line 1. 210391 41APTE (10-21)
Extracted from PDF file 2021-kentucky-form-pte.pdf, last modified October 2021

More about the Kentucky Form PTE Corporate Income Tax Tax Return TY 2021

Pass Through Entity Tax - Fill-in

We last updated the Kentucky Pass-Through Entity Income and LLET Return in January 2022, so this is the latest version of Form PTE, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form PTE 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 PTE.

Form Code Form Name
Form PTE Instructions Kentucky Pass-Through Entity Income and LLET Return - Instructions
Schedule K-1 (Form PTE) Owner's Share of Income, Credits, Deductions, ETC.
Form O-PTE Other Additions and Subtractions to/from Federal Ordinary Income
Form PTE-K Schedule K for Pass-Through Entities with Economic Development Project(s)
Form PTE-WH Kentucky Nonresident Income Tax Withholding on Net Distributive Share Income
Schedule O-PTE Other Additions and Subtractions to/from Federal Ordinary Income

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 PTE from the Department of Revenue in January 2022.

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Form PTE 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 PTE

We have a total of two past-year versions of Form PTE 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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