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Kentucky Free Printable  for 2021 Kentucky Kentucky Farm Income Averaging

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Kentucky Farm Income Averaging
Schedule J

SCHEDULE  J *0900030016* Form 740 42A740-J (10-09) Department of Revenue ➤  See federal instructions for Schedule J. For Taxable Year Ended KENTUCKY FARM INCOME AVERAGING __ __ / __ __ ➤  Attach to Form 740.   Enter name(s) as shown on tax return. Your Social Security Number Note: Compute tax using the Tax Table or the Tax Rate Schedule appropriate to each year. This is tax before credits.   1. Enter your taxable income from Form 740.......................................................................................................   1 00   2. Enter your elected farm income. Do not exceed amount on federal Schedule J, line 2...............................   2 00   3. Subtract line 2 from line 1. If zero or less, enter -0-..........................................................................................   3 00   4.   5.   6.   7. Compute the tax on the amount on line 3........................................................................................................   4 If you used Schedule J to compute your tax for the previous year, enter the amount from line 11 of that Schedule J. Otherwise, enter the taxable income from Form 740 or Form 740-EZ for the third preceding year. 00 If zero or less, see federal instructions.....................................................................   5 00 Divide the amount on line 2 by 3.0...........................................................................   6 Add lines 5 and 6.......................................................................................................   7 00 00   8.   9. 10. 11. Compute the tax on the amount on line 7........................................................................................................   8 If you used Schedule J to compute your tax for the previous year, enter the amount from line 15 of that Schedule J. Otherwise, enter the taxable income from Form 740 or Form 740-EZ for the second preceding year. 00 If zero or less, see federal instructions.....................................................................   9 00 Enter the amount from line 6.................................................................................... 10 00 Add lines 9 and 10.......................................................................................................11 00 12. Compute the tax on the amount on line 11....................................................................................................... 12 13. If you used Schedule J to compute your tax for the previous year, enter the amount from line 3 of that Schedule J. Otherwise, enter the taxable income from Form 740 or Form 740-EZ for the first preceding year. 00 If zero or less, see federal instructions..................................................................... 13 00 14. Enter the amount from line 6.................................................................................... 14 15. Add lines 13 and 14.................................................................................................... 15 00 00 16. Compute the tax on the amount on line 15...................................................................................................... 16 00 17. 18. 19. 20. Add lines 4, 8, 12 and 16..................................................................................................................................... 17 00 Compute the tax on the income amount on line 5.................................................. 18 00 Compute the tax on the income amount on line 9.................................................. 19 Compute the tax on the income amount on line 13................................................ 20 00 00 21. Add lines 18 through 20.....................................................................................................................................21 22. Subtract line 21 from line 17. If the result is less than the tax on the taxable income on line 1, enter the tax on Form 740, line 12 and check the box......................................................................................22 00 Caution: If income from another state is included in the elected farm income on line 2, you must also compute the tax without the other state’s income to determine the state tax limitation for credit for taxes paid to other states. 00
Extracted from PDF file 2019-kentucky-schedule-j.pdf, last modified September 2009

More about the Kentucky Schedule J Corporate Income Tax

We last updated the Kentucky Farm Income Averaging in April 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Kentucky Department of Revenue. You can print other Kentucky tax forms here.

Other Kentucky Corporate Income Tax Forms:

TaxFormFinder has an additional 129 Kentucky income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form PTE Instructions Kentucky Pass-Through Entity Income and LLET Return - Instructions
Form 725 Kentucky Single Member LLC Individually Owned & LLET Return
Form 720-ES Kentucky Estimated Tax Voucher - Corporation Income/Limited Liability Entity Tax - Form 41A720ES
Form PTE Kentucky Pass-Through Entity Income and LLET Return
Form 720S Kentucky S Corporation Income Tax and LLET 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 Schedule J from the Department of Revenue in April 2020.

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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 Schedule J

We have a total of five past-year versions of Schedule J 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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