Form W-1 Kira - Quarterly Withholding Tax Return For Employers Claiming The Kentucky Industrial Revitalization Act Credit Page 3

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GENERAL INFORMATION

Office Location: 101 South 8

Street, Louisville, KY 40202

Employers are required to withhold Occupational License Fees/Taxes from the gross salaries, wages, commissions and other forms of compensation earned by

employees for work performed within Louisville Metro, Kentucky. Louisville Metro includes the area within the boundaries of Jefferson County, Kentucky. There are two

basic tax rates that apply to wages earned within Louisville Metro, Kentucky.

1. Resident employees - Employees who work and live in Louisville Metro, Kentucky, are subject to a tax rate of 2.2% (.0220). The rate for resident

employees is composed of:

Louisville Metro

1.25% (.0125)

Transit Authority

.2% (.0020)

School Boards Tax

.75% (.0075)

2. Non-resident employees - Employees who live outside Louisville Metro, Kentucky, are subject to a tax rate of 1.45% (.0145). The rate for non-

resident employees is composed of:

Louisville Metro

1.25% (.0125)

Transit Authority

.2% (.0020)

REQUIREMENT FOR PAYMENT OF MONTHLY DEPOSITS:

Every employer who was responsible for withholding occupational license fees/taxes of more than

$3,000.00 during any one of the preceding four (4) calendar quarters must submit monthly deposits of the occupational license fees/taxes withheld to the Louisville Metro

Revenue Commission. All monthly withholding tax deposits are due 15 days after the month end.

If this is the first time that you owed Occupational License Fees/Taxes

exceeding $3,000.00, you may not receive deposit forms. You can obtain deposit forms from our website, , or obtain answers to your questions

by sending an email to .

Failure to procure deposit forms or make deposits shall not be considered reasonable cause for abatement of penalty and interest charges that are assessed as a result of

your failure to submit timely deposits.

Month That Wages

Monthly Deposit

Month That Wages

Monthly Deposit

Were Withheld

Due Date

Were Withheld

Due Date

January

February 15

July

August 15

March 15

August

February

September 15

March

April 15

September

October 15

April

May 15

October

November 15

May

June 15

November

December 15

June

July 15

December

January 15

(* Postmarked or Hand Delivered

)

(* Postmarked or Hand Delivered)

Employers whose withholding tax liability for each of the preceding four (4) quarters was less than $3,000.00 will continue to file and pay withholding taxes quarterly.

ALL employers will be required to file a quarterly withholding tax return (FORM W-1 KJDA) by the last day of the month following the close of the calendar quarter.

License Fee Return for:

Filed by:

1st quarter

April 30

2nd quarter

July 31

3rd quarter

October 31

4th quarter

January 31

(* Postmarked or Hand Delivered)

INSTRUCTIONS FOR FORM W-1 KIRA

Quarterly Withholding Tax Return For Employers Claiming the Kentucky Industrial Revitalization Act Credit

(Figures on Lines 1-4 should reflect payroll for the entire quarter.)

Enter the Gross wages paid to all employees for work that was performed within the boundaries of Louisville Metro, KY. Multiply wages entered on Line 1 by

.0145. Enter result in the “TAX DUE” column of Line 1(a).

Determine what portion of the total Louisville Metro, KY, wages (entry on Line 1) was paid to employees who did not live in Louisville Metro, KY, during the

quarter. Enter the total on Line 2.

Subtract the entry on Line 2 from the entry on Line 1 and enter the result on Line 3. This figure represents the total wages paid to all employees who lived in

Louisville Metro, KY, for work that they performed in Louisville Metro, KY. Multiply wages entered on Line 3 by .0075. Enter the result in the “TAX DUE”

column on Line 3(a).

Enter the Gross wages paid to the employees who qualified for the Kentucky Industrial Revitalization Act (KIRA) credit for work that was performed in

Louisville Metro, KY. Multiply the wages entered on Line 4 by the applicable Activation Rate. Enter the result in the “TAX DUE” column on Line 4(a). NOTE:

If the employees who qualified for the KIRA credit worked in the cities of Jeffersontown, St. Matthews, Shively, or West Buechel, the KIRA Activation

rate is pro-rated between Louisville Metro, KY, and those cities.

Add the amounts entered in column labeled “TAX DUE” on Lines 1(a) and 3(a), and then subtract the KIRA credit on Line 4(a). This is the total amount of tax

due. NOTE: Employers are liable to pay the total amount of tax due, even if the full amount of tax was not withheld from the employees.

Employers are subject to a penalty of 5% per month, or a fraction of a month, such return remains unfiled, to a maximum of 25%. Failure to pay by the due

date is an additional 5% penalty, plus interest at a rate of 12% per annum from the due date until paid. The above charges are assessed against amounts not

paid by the due date. Failure to complete the information on the quarterly return may subject a licensee to a punitive penalty. If you have failed to file and/or

pay on time, enter the penalty and/or interest amount on Line 7.

Add entries on Lines 5 and 6. Enter total on Line 7. This represents the total payment due.

QUARTERLY RECONCILIATION

Employers who pay tax on a quarterly basis (amount owed is $3,000.00 or less for each of the preceding four (4) calendar quarters) should not complete Lines 9-11.

Employers who were required to make monthly deposits must complete Lines 8-12 inclusive.

Enter the amount of tax that should have been withheld during each month of the quarter on the appropriate lines (i.e., 8A, 8B, 8C).

Add the amount of the deposits that were made for the quarter. Enter the total of all deposits on Line 9.

10. - 12. Subtract the entry on Line 9 (total deposits for the quarter) from the entry on Line 7 (total amount due). If the amount on Line 7 is greater than the amount on

Line 9, enter the additional amount due on Line 10. Submit payment of any additional amount due with the tax form. If Line 9 (total deposits for the quarter) is greater

than Line 7 (total amount due), attach a detailed explanation of why the overpayment occurred, and enter the portion of the overpayment to be credited on Line 11.

Enter the portion of the overpayment to be refunded on Line 12.

13. If the amount due is being paid through ACH Credit, enter the tracking number assigned to the payment by your financial institution.

For information on taxable compensation (Deferred Compensation, Section 125 Plans, Health Insurance over $50,000), please visit our website,

, and read sections 2.1 through 2.8 of the Regulations of the Louisville Metro Revenue Commission.