Kentucky Unemployment Tax Credit
Extracted from PDF file 2019-kentucky-schedule-utc.pdf, last modified April 2015
Unemployment Tax CreditThe Kentucky Unemployment Tax Credit Program Revised March 27, 2015 The 1982 Kentucky General Assembly enacted KRS 141.065 that provides an unemployment tax credit against the income tax liability of Kentucky employers who hire qualified, unemployed individuals. Employers may claim a $100 credit for each eligible individual who has been certified by the Office of Employment and Training. Certification requires that the employee be unemployed for 60 days prior to being hired into full-time employment and must remain employed fulltime for 180 consecutive calendar days in the tax year in which the credit is claimed. Application process: An employee is considered unemployed if: The application is completed by the employer and the employee. Part I is employer information – part II is employee information, part III is the employment history and part IV is signed by both the employer and the employee. Then mail or fax to: Kentucky Career Center Tax Credit Unit 275 East Main Street, 2 WA Prior to the 60-day minimum unemployment payment period, the individual had prior labor market attachment; and during the 60-day minimum unemployment period prior to being hired, the employee was not working or was not employed more than 23 hours per week or was not employed more than 100 hours per month and was actively seeking and readily available for full-time employment. Involvement in a strike or labor dispute during the prior 60 days does not meet the definition of unemployment for the purposes of this program. Frankfort, KY 40621 Fax (502)782-3465 A review of both the employee and employer sections prior to submission will reduce unnecessary delays in the issuance of certifications. If a question does not apply, indicate by N/A (Not-applicable). An employee is considered employed if: He or she worked more than 23 hours per week or more than 100 hours per month and meets the 180 consecutive days of employment requirement. A numbered certification, denial letter (for ineligibility) or letter of deficiency (for incomplete applications) will be issued to the employer. To avoid requests that will be automatically denied, the following statements must be answered yes. Relatives, dependents and on-the-job training recipients are not eligible employees. The employee qualifies as a dependent of the tax payer/employment for federal and state income purposes. The employee is a relative of the taxpayer/employer, or an individual who owns more than 50 percent of the outstanding stock corporation. If the taxpayer/employer is an estate or trust, is a grantor, beneficiary or fiduciary. Were you a Kentucky resident on the hire date? Were you actively seeking work during the 60 days prior to the hire date? Were you readily available to accept full-time employment prior to the hire date? Credit may not be claimed if the following apply: Do you have an employment history? Certificates: Labor Market Experience: If the applicant was employed at least 23 hours per week or 100 hours per month for at least one month prior to the 60-day minimum unemployment requirement prior to hire date; he or she is considered to have labor market experience. The completed application is mailed to the Tax Credit Unit for verification. Upon approval, the employer is sent a numbered tax certificate, which is used to claim the $100 credit on State Department of Revenue Tax Schedule UTC. For processing questions, contact the Tax Credit Unit at (502) 782-3465. For all tax related questions, contact the Department of Revenue at (502) 564-8139. Kentucky Unemployment Tax Credit Program Application Cabinet for Education and Workforce Development OFFICE OF EMPLOYMENT AND TRAINING PART I: EMPLOYER INFORMATION (TO BE PRINTED OR TYPED BY THE EMPLOYER) Employer Name: Employer Telephone Number: ( ) - Employer Contact Person or Third Party Representative: Employer Address: KY Tax Identification Number: Federal Tax Identification Number: - PART II: EMPLOYEE INFORMATION (TO BE PRINTED OR TYPED) Employee Name: Social Security Number: Hire Date (mm/dd/yy) / (Check one) Yes Were you a resident of Kentucky on the hire date? No / Start-to-Work Date (mm/dd/yy) / / Employee Address on hire date: Street, City, State, Zip Code Were you actively seeking work during the 60 days prior to the hire date above? Were you readily available to accept full-time employment during the 60 days prior to the hire date above? Do you have an employment history? (Check one) Yes No (Check one) Yes No (Check one) Yes No PART III EMPLOYMENT HISTORY, LABOR MARKET ATTACHMENT (TO BE PRINTED OR TYPED) Employer Name: Employer Telephone Number: ( ) - Employed (Month/ Day/ Year) Employer Telephone Number: ( ) - Employed (Month/ Day/ Year) Employer Telephone Number: ( ) - Employed (Month/ Day/ Year) Employer Address: Employer Name: Employer Address: Employer Name: Employer Address: (mm/dd/yy) From: / / To: Average Hours Worked: Per Week Per Month / / (mm/dd/yy) From: / / To: Average Hours Worked: Per Week Per Month / / (mm/dd/yy) From: / / To: Average Hours Worked: Per Week Per Month / / PART IV: READ, SIGN AND DATE PART IV AFTER COMPLETING ALL OF PARTS I, II AND III. Employee Self Attestation I hereby certify that the above statements are accurate and I understand that, if I knowingly submit false or inaccurate information, I may face prosecution, which could result in such penalties as prescribed by Kentucky Law. I authorize the Office of Employment and Training and the Kentucky Revenue Cabinet to verify any information stated in this application and to make any contacts or inquiries to verify my current or past employment status. Employee Signature: _______________________________________________Date:______________ Employer Self Attestation I hereby attest that the information on this application is true to the best of my knowledge and that I am accepting these statements in good faith from the above employee. Employer Signature: _______________________________________________Date:______________ kentuckycareercenter.ky.gov/employer/TaxCredits OET UTC 1 Revised 03/27/2015 An Equal Opportunity Employer M/F/D
More about the Kentucky Schedule UTC Corporate Income Tax Tax Credit
We last updated the Unemployment Tax Credit 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:
|Form Code||Form Name|
|Form 725||Kentucky Single Member LLC Individually Owned & LLET Return|
|Form 720S Instructions||Kentucky S Corporation Income Tax and LLET Return Instructions|
|Form 720||Kentucky Corporation Income Tax and LLET Return|
|Form 720-ES||Kentucky Estimated Tax Voucher - Corporation Income/Limited Liability Entity Tax - Form 41A720ES|
|Form 765-GP-K1||Schedule K-1 - Partner's Share of Income, Credits, Deductions, Etc.|
Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Schedule UTC from the Department of Revenue in April 2020.
Schedule UTC is a Kentucky Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
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 UTC
We have a total of six past-year versions of Schedule UTC 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.