FORM 725 K I ENTUCKY NDIVIDUALLY ... - Department of Revenue 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering your FEIN/SSN and the name of your LLC in the designated fields. Ensure that all information is accurate to avoid processing delays.
  3. In Part I, report your Kentucky net distributable income by filling out each line with the appropriate figures from your financial records, including ordinary income and any deductions.
  4. Proceed to Part II for LLET computation. Calculate your tax liability based on the provided lines, ensuring you attach any necessary schedules as indicated.
  5. Complete Parts III through V as applicable, providing explanations for final returns or amendments where necessary. Don’t forget to sign and date the form before submission.

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To submit the Kentucky Single Member LLC LLET Return Form 725-EZ, mail it to the Kentucky Department of Revenue at P.O. Box 856905, Louisville, KY 40285-6905. Ensure that the form is completed accurately and signed where necessary.
Individuals can be exempt from Kentucky state income taxes if they received a refund for the entirety of their 2022 Kentucky state income taxes, and they expect to have all of the state income taxes they paid in 2023 to be refunded.
Kentucky has a flat 4.00 percent individual income tax rate. There are also jurisdictions that collect local income taxes. Kentucky has a 5.0 percent corporate income tax rate. Kentucky also has a 6.00 percent state sales tax rate and does not have local sales taxes.

People also ask

The purpose of KY 765 Schedule K-1 is to report a partners or shareholders share of income, deductions, and credits, allowing individuals to accurately report this information on their personal tax returns.
Each retailer pays the refunded tax back to the customer as required under the provisions of KRS 139.770. Claims for refunds must be filed within four years from the date the tax was paid to the State Treasurer. After the statute of limitations has expired, no claims for refunds or credits will be considered.
A single member LLC whose single member is an individual, estate, trust, or general partnership must file a Kentucky Single Member LLC Individually Owned Income and LLET Return (Form 725).
Form 725, Kentucky Single Member LLC Individually Owned Income and LLET Return - This form is not included when e-filing the Kentucky individual tax return. It must be printed and mailed to the appropriate address listed on the form.
A single member LLC whose single member is an individual, estate, trust, or general partnership must file a Kentucky Single Member LLC Individually Owned Income and LLET Return (Form 725) or a Kentucky Single Member LLC Individually Owned LLET Return (Form 725-EZ) to report and pay any LLET that is due.

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