Kentucky Kentucky Single Member LLC Individually Owned Composite Return

Kentucky Single Member LLC Individually Owned Composite Return
Schedule CP Form 725
FORM

725

KENTUCKY SINGLE MEMBER LLC
INDIVIDUALLY OWNED INCOME
AND LLET RETURN

Commonwealth of Kentucky
Department of Revenue

2020

For calendar year 2020 or tax years beginning (MM-DD-YY)  __ __ – __ __ – 20__ __ , and ending (MM-DD-YY)  __ __ – __ __ – 20__ __
A LLET 

B FEIN/SSN

Exemption Code

C Kentucky Corporation/LLET

__ __ – __ __ __ __ __ __ __

	

Name of LLC	

D
		 Provider 3-Factor

Number and Street	

__  __  __   __  __  __

Account Number (Required)

 Change of Name

Telephone Number

	 Apportionment Code

	
	

City	

State	

ZIP Code

	

	
E Check applicable
	  
	
	boxes
		
		
		
		
		
	

 
 Initial return
 Change of accounting period
 Qualified investment partnership
 Final return (Complete Part IV)
 Short-period return (Complete Part IV)
 Amended return (Complete Part V)

F
	 Single Member is a:	

State of Organization

Principal Business Activity in KY

Date of Organization

NAICS Code Number in KY

__  __ / __   __  __  __

 
Kentucky Resident	  
Non-Resident If non-resident, LLC must also file Form 740NP-WH

PART I—KENTUCKY NET DISTRIBUTABLE INCOME
1	 Ordinary income (loss)

„	
1	

0 0

2	Net income (loss) from rental real estate activities

„	
2	

0 0

3	 Net income (loss) from other rental activities

„	
3	

0 0

4	 Interest income

„	
4	

0 0

5	 Dividend income

„	
5	

0 0

6	 Royalty income

„	
6	

0 0

7	 Net short-term and long-term capital gain (loss).
	 If net loss, do not include more than $3,000.

„	
7	

0 0

8	 IRC §1231 net gain (loss)

„	
8	

0 0

9	 Other income (attach schedule).

„	
9	

0 0

10	 Other deductions (attach schedule)

„	
10	

0 0

11	 Total net distributable income (lines 1 through 9 less line 10)

„	
11	

0 0

12	 Enter 100% or the apportionment fraction from Schedule A.

„	
12

 __   __  __   .  __  __  __  __ %

OFFICIAL USE ONLY

P
W
2
0
4

V
A
L
#

200270 41A725 (10-20)	

Page 1 of 6

FORM 725 (2020)

Page 2 of 6

PART II—LLET COMPUTATION
1	 Schedule L, Section E, line 1 (Page 6)

„	
1	

0 0

2	 Tax credit recapture

„	
2	

0 0

3	 Total (add lines 1 and 2)

„	
3	

0 0

4	 Nonrefundable LLET credit from Kentucky Schedule(s) K-1

„	
4	

0 0

5	 Nonrefundable tax credits (attach Schedule TCS)

„	
5	

0 0

6	 LLET liability (greater of line 3 	less lines 4 and 5 or
	 $175 minimum)

„	
6	

0 0

7	 Estimated tax payments

„	
7	

0 0

8	 Certified rehabilitation tax credit

„	
8	

0 0

9	 Film industry tax credit

„	
9	

0 0

10	 Extension payment

„	
10	

0 0

11	 Prior year’s tax credit

„	
11	

0 0

12	 LLET paid on original return

„	
12	

0 0

13	 LLET overpayment on original return

„	
13	

0 0

14	 Estimated Tax Penalty (attach Form 2220-K)

„	
14	

0 0

„	
15	

0 0

16	
16	 LLET overpayment (lines 7 through 12 less lines 6,13, and 14) „	

0 0

15	 LLET and Estimated Tax Penalty due (lines 6, 13,
	 and 14 less lines 7 through 12)

OWE

17	 Credited to 2020 interest

„	
17	

18	 Credited to 2020 penalty

„	
18	

19	 Credited to 2021 LLET

„	
19	

20	 Amount to be refunded (line 16 less lines
	 17 through 19)

REFUND

0 0

„	
20	

PART III—LLET CREDIT FOR MEMBER
1	 LLET liability (Part II, the total of lines 4 and 6)
2	 Minimum tax
3	 Member’s LLET credit (line 1 less line 2)

200271 41A725 (10-20)	

„	
1	
	 
2	
„	
3	

0 0

1 7 5 .00
0 0

FORM 725 (2020)

Page 3 of 6

PART IV—EXPLANATION OF FINAL RETURN AND/OR SHORT–PERIOD RETURN
  Ceased operations in Kentucky	
  Change of ownership	
  Successor to previous business	

  Change in filing status
 Merger
  Other _________________________________________________

PART V—EXPLANATION OF AMENDED RETURN CHANGES

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and
belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Signature of Member	

Sign
Here

Paid
Preparer
Use

Date

__  __ / __  __ / __   __  __  __
Name of Member (Please print)	Title

Signature of Preparer	

Date

Name of Preparer or Firm (Please print)	

ID Number

Email and/or Telephone No. 	

May the DOR discuss this return with this preparer?

__  __ / __  __ / __   __  __  __





		
YES   
NO

Enclose

All supporting federal forms and schedules, including
Federal Schedule(s) C, E, and/or F.

Refund
or No
Payment

Kentucky Department of Revenue
P. O. Box 856905
Louisville, KY 40285-6905

Payment

Check Payable: Kentucky State Treasurer
E-Pay Options: www.revenue.ky.gov

With
Payment

Kentucky Department of Revenue
Frankfort, KY 40620-0021

200272 41A725 (10-20)

FORM 725 (2020)

Page 4 of 6

SCHEDULE Q—SINGLE MEMBER LIMITED LIABILITY COMPANY QUESTIONNAIRE
IMPORTANT: Questions 1 and 2 must be answered
if this is the single member LLC’s initial return or if a
return was not filed under the same name and same
federal I.D. number for the preceding year. Failure to
do so may result in a request for a delinquent return.
 1	 Single member’s (owner) name, address, and
Social Security number or federal I.D. number

	

Name
__ __ – __ __ __ __ __ __ __

	

FEIN

	

Address

  2	 If a foreign limited liability company, enter the date
qualified to do business in Kentucky.
      __

__ / __ __ / __ __ __ __

Questions 3—7 must be completed by all single
member limited liability companies (LLC).

  3	 The limited liability company’s books are in care
of:

	

Name

	

Address

4	 Are disregarded entities included in this return?

  	   Yes   No
	

If yes, attach Schedule DE.

5	 Was the limited liability company a partner in a
pass-through entity doing business in Kentucky
for the tax year being reported?   
 Yes   No
	

If yes, list name and federal I.D. of the pass-through
entity(ies).

	 Name
A
	 FEIN

__ __ – __ __ __ __ __ __ __

	 Name
B
	 FEIN

__ __ – __ __ __ __ __ __ __

	 Name
C
	 FEIN

__ __ – __ __ __ __ __ __ __

	 Name
D
	 FEIN

__ __ – __ __ __ __ __ __ __

	 Name
E
	 FEIN

__ __ – __ __ __ __ __ __ __

	 Name
F
	 FEIN

__ __ – __ __ __ __ __ __ __

	 Name
G
	 FEIN

__ __ – __ __ __ __ __ __ __

6	 Was the limited liability company doing business
in Kentucky other than through its interest held in a
pass-through entity doing business in Kentucky? 	

  Yes   No
7	 Was this return prepared on:
	(a)	
 cash basis
	
(b)	  accrual basis
	(c)	
 other  ___________________________________

200343 41A725 (10-20)

FORM 725 (2020)

Page 5 of 6

SCHEDULE L—LIMITED LIABILITY ENTITY TAX COMPUTATION



Check the box and complete Schedule L-C, Limited Liability Entity Tax—Continuation Sheet, if the single member limited
liability company filing this tax return is a partner or member of a limited liability pass-through entity or general partnership
doing business in Kentucky. Enter the total amounts from Schedule L-C in Section A of this schedule.

SECTION A—Computation of Kentucky Gross Receipts and Gross Profits

1(a)	 Gross receipts less returns and allowances

„	
1(a)

0 0

 (b)	 Kentucky statutory gross receipts reductions

„	(b)

0 0

2	

„	
2	

0 0

3(a)	 Cost of goods sold (attach Schedule COGS)

„	
3(a)	

0 0

 (b)	 Kentucky statutory cost of goods sold reductions

„	(b)

0 0

4	

Adjusted cost of goods sold (line 3(a) less line 3(b))

„	
4	

0 0

5	

Gross profits (line 2 less line 4)

„	
5	

0 0

Adjusted gross receipts (line 1(a) less line 1(b))

SECTION B—Computation of TOTAL Gross Receipts and Gross Profits
1	

Adjusted gross receipts

„	
1	

0 0

2	

Cost of goods sold (attach Schedule COGS)

„	
2	

0 0

3	

Gross profits (line 1 less line 2)

„	
3	

0 0

If Section B, Line 1 or 3 is $3,000,000 or less, SKIP Sections C
and D and enter $175 in Section E, Line 1 and then enter $175
on page 2, Part II, Line 1. Otherwise, continue to
Section C on the next page.

200276 41A725 (10-20)

FORM 725 (2020)

Page 6 of 6

SCHEDULE L—LIMITED LIABILITY ENTITY TAX COMPUTATION—continued
SECTION C—Computation of Gross Receipts LLET
1	 If gross receipts from all sources (Section B, line 1) are greater than
	 $3,000,000, but less than $6,000,000, enter the following:
	
	

(Section A, line 2 x 0.00095) –
	

[

]

$2,850 x ($6,000,000 – Section A, line 2)
$3,000,000

	but in no case shall the result be less than zero.

„	
1	

0 0

2	 If gross receipts from all sources (Section B, line 1)
	 are $6,000,000 or greater, enter the following: Section A,
	 line 2 x 0.00095.

„	
2	

0 0

3	 Enter the amount from line 1 or line 2.

„	
3	

0 0

SECTION D—Computation of Gross Profits LLET
1	 If gross profits from all sources (Section B, line 3) are greater than
	 $3,000,000, but less than $6,000,000, enter the following:
	
	

[

]

(Section A, line 5 x 0.0075) – $22,500 x ($6,000,000 – Section A, line 5)
	

$3,000,000

	 but in no case shall the result be less than zero.

„	
1	

0 0

2	 If gross profits from all sources (Section B, line 3) are
	 $6,000,000 or greater, enter the following: Section A,
	 line 5 x 0.0075.

„	
2	

0 0

3	 Enter the amount from line 1 or line 2.

„	
3	

0 0

„	
1	

0 0

SECTION E—Computation of LLET
1	 Enter the lesser of Section C, line 3 or Section D, line 3
	 here and on Page 2, Part II, line 1. If less than $175, enter
	 the minimum of $175 here and on Page 2, Part II, line 1.

200273 41A725 (10-20)