Form 720 - Amended Kentucky Corporation Income Tax And Llet Return - 2007
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1
2__ __ __ __ __ __
A
720–AMENDED (2007)
Kentucky Corporation/LLET Account Number
41A720-AMENDED (2007)
*0700020276*
Department of Revenue
A
20 _ _
MENDED
K
C
ENTUCKY
ORPORATION
I
T
LLET R
NCOME
AX AND
ETURN
Taxable period
beginning ______________ , 2007, and ending ______________ , 200___ .
To be used for tax periods beginning on or after January 1, 2007
B
Check applicable box(es):
D
__ __ / __ __
Federal
Taxable Year Ending
__ __ – __ __ __ __ __ __ __
Identification Number
Mo.
Yr.
LLET
Receipts Method
Name of Corporation or Affiliated Group
(Print or type)
Change of name
State and Date of Incorporation
Gross Receipts
Gross Profits
$175 minimum
Number and Street
Change of address
Principal Business Activity in KY
Nonfiling Status Code
Enter Code
_____ _____
City
State
ZIP Code
Telephone Number
NAICS Code Number
C
Income Tax Return
(Relating to Kentucky Activity)
Elected Consolidated
(See )
E
Name of Common Parent
Kentucky Corporation/LLET Account Number
Attach Form 722
__ __ __ __ __ __
Mandatory NEXUS
(attach schedule)—
Nonfiling Status Code
Explanation of Changes Made to the Original Return
Enter Code
_____ _____
PART I—LLET COMPUTATION
16. Other (attach schedule) .........................
00
17. Revenue Agents Report (RAR) ..............
00
1. Schedule LLET, Section D, line 1 ..........
00
18. Net income (line 11 less lines 12
2. Recycling/composting equipment tax
through 17) .............................................
00
credit recapture ......................................
00
19. Current net operating loss adjustment
3. Total (add lines 1 and 2) ........................
00
(mandatory nexus only) ..........................
00
4. Nonrefundable LLET credit from
20. Kentucky net income (add lines 18
Kentucky Schedule(s) K-1 ......................
00
and 19) ....................................................
00
5. Nonrefundable tax credits (Schedule
21. Taxable net income (attach
TCS) ........................................................
Schedule A if applicable) .......................
00
00
6. Amended LLET liability (greater of
22. Net operating loss deduction (NOLD) ..
00
23. Taxable net income after NOLD
line 3 less lines 4 and 5 or $175
(line 21 less line 22) ...............................
00
minimum) ...............................................
00
24. Kentucky domestic production
7. Withholding tax (Form PTE-WH) ...........
00
activities deduction (KDPAD) ................
00
8. Estimated tax payments .......................
00
25. Taxable net income after KDPAD (line
9. Extension payment ................................
00
23 less line 24) .......................................
00
10. Income tax overpayment from
original return ........................................
00
PART III—INCOME TAX COMPUTATION
11. LLET paid on original return .................
00
1. Income tax (multiply Part II, line 25
12. LLET refund on original return .............
00
by tax rates) ............................................
00
13. Credited to income tax from original
2. Recycling/composting equipment tax
return ......................................................
00
00
credit recapture .......................................
14. Credited to 20 ___ ___ LLET ..................
00
3. Tax installment on LIFO recapture .......
00
00
15. LLET due (see instructions) ..................
4. Total (add lines 1 through 3) .................
00
16. LLET refund (see instructions) ..............
00
5. Nonrefundable LLET credit from
the Limited Liability Pass-through
PART II—TAXABLE INCOME COMPUTATION
Entity LLET Credit Worksheet(s)
1. Federal taxable income (Form 1120,
(see instructions) ...................................
00
line 28; Form 1120A, line 24) .................
00
6. Nonrefundable LLET credit (Part I,
ADDITIONS:
00
line 6 less $175) ......................................
2. Interest income (state and local
7. Nonrefundable tax credits (Schedule
obligations) ............................................
00
00
TCS) ........................................................
3. State taxes based on net/gross income
00
8. Amended income tax liability
4. Depreciation adjustment .......................
00
(line 4 less lines 5 through 7, but not
5. Deductions attributable to nontaxable
less than zero) ........................................
00
income ....................................................
00
9. Estimated tax payments
6. Related party expenses .........................
00
00
Check if Form 2220-K attached .......
7. Dividend paid deduction (REIT) ............
10. Extension payment ................................
00
00
8. Domestic production activities
11. Prior year’s tax credit ............................
00
deduction ................................................
00
12. LLET overpayment from original
9. Other (attach schedule) .........................
00
return ......................................................
00
10. Revenue Agents Report (RAR) ..............
00
13. Corporation tax paid on original return ....
00
11. Total (add lines 1 through 10) ...............
00
14. Corporation tax refund on original return
00
SUBTRACTIONS:
15. Credited to LLET from original return .....
00
12. Interest income (U.S. obligations) .......
00
16. Credited to 20 ___ ___ corporation
13. Dividend income ....................................
00
income tax return ..................................
00
14. Federal work opportunity credit ...........
00
17. Income tax due (see instructions) ........
00
15. Depreciation adjustment .......................
00
18. Income tax refund (see instructions) .......
00
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