Kentucky Tracking Schedule for a KJRA Project
Extracted from PDF file 2019-kentucky-schedule-kjra-t.pdf, last modified October 2016
Tracking Schedule for a KJRA ProjectSCHEDULE KJRA-T *1600010294* 41A720-S46 (10-16) Commonwealth of Kentucky DEPARTMENT OF REVENUE TRACKING SCHEDULE FOR A KJRA PROJECT ➤ See instructions. ➤ Attach to Schedule KJRA or KJRA-SP. KRS 154.25-010 to 050 Name of Entity Entity Type Corporation Limited Liability Pass-through Entity Federal Identification Number General Partnership Other_________________________________________ __ __ __ __ __ __ __ __ __ Location of Project Kentucky Corporation/LLET Account Number __ __ __ __ __ __ Activation Date of KJRA Incentive Agreement City County Economic Development Project Number _ _ / _ _ / _ _ Mo. Day Yr. A B C D E F G Taxable Year Ended Balance of Approved Cost Col. F – Col. G (Prior Year) Approved Cost Initial/Supplemental Transferred Credits Employee Wage Assessments Withheld KJRA Tax Credit Limitation KJRA Tax Credit Claimed 41A720-S46 (10-16) Page 2 Commonwealth of Kentucky DEPARTMENT OF REVENUE INSTRUCTIONS—SCHEDULE KJRA-T PURPOSE OF SCHEDULE—This schedule is used by a company which has entered into an agreement for a Kentucky Jobs Retention Agreement (KJRA) project to maintain a record of the approved costs and tax credits (income tax and the limited liability entity tax (LLET)) for the duration of the agreement. This information is necessary for the company to determine the limitation of the tax credit for each year of the agreement and to allow the Kentucky Department of Revenue to verify that the credit has been properly computed. GENERAL INSTRUCTIONS A s i n g l e Sch e d u l e K J R A - T, Tr a ck i n g Sch e d u l e for a KJRA Project, shall be maintained for the duration of each KJRA project. Beginning with the first taxable year of the KJRA agreement, complete Columns A through G using a separate line for each year of the agreement. The company shall attach a copy of this schedule updated with current year information to the Schedule KJRA or Schedule KJRA-SP which is filed with the Kentucky tax return for the year. For Form 720, all tax credits are entered on Schedule TCS, Tax Credit Summary Schedule. The total tax credits calculated may exceed the amount that can be used. Credits must be claimed in the order prescribed by KRS 141.0205. Total credits claimed cannot reduce the LLET below the $175 minimum. Total credits claimed cannot reduce the income tax liability below zero. SPECIFIC INSTRUCTIONS Column A—Enter on each line the ending date (month, day and year) of the taxable year for which the information in Columns B through G is entered. Column B—This column will be blank for the first taxable year of the agreement. For each year thereafter, if the amount entered in Column F for the prior year exceeds the amount entered in Column G for the prior year, enter the difference. If the amount entered in Column G for the prior year equals the amount entered in Column F for the prior year, enter zero (-0-). Column C—Enter the portion of the eligible costs approved by the authority that an approved company may recover through inducements. The negotiated percentage cannot exceed 50 percent of the approved costs for the initial project; however, the Kentucky Economic Development Finance Authority (KEDFA) may negotiate an increase in the percentage such that both the initial project and the supplemental project are eligible for 75 percent of approved costs upon approval of a supplemental project. Column D—Enter the balance of unused approved costs from a previously existing KIDA or KJDA project to be transferred to the KJRA project. Column E—Enter the amount of wage assessments withheld. Column F—Enter the KJRA limitation. This is the total of Columns B through D less Column E. Column G—The KJRA tax credit is applied against the income tax imposed by KRS 141.020 or KRS 141.040 and the LLET imposed by KRS 141.0401. The tax credit calculated for each tax can be different; however, for tracking purposes, the maximum amount used against either tax is recorded as the amount claimed. Enter the greater of Column E or Column F from Schedule TCS for this project.
More about the Kentucky Schedule KJRA-T Corporate Income Tax
We last updated the Tracking Schedule for a KJRA Project 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.
Related Kentucky Corporate Income Tax Forms:
|Form Code||Form Name|
|Schedule KJRA||Tax Credit Computation Schedule for a KJRA Project of a Corporation|
|Schedule KJRA-SP||Tax Computation Schedule for a KJRA Project of a Pass-Through Entity|
Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Schedule KJRA-T from the Department of Revenue in April 2020.
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 KJRA-T
We have a total of five past-year versions of Schedule KJRA-T in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Kentucky Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.