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Kentucky Form 725 is designed to tax the single member, individually owned Limited Liability Corporation (LLC) where the income from a business owned by an individual is taxed as a corporation, if business done by the LLC was done in Kentucky.
Do I need to file a Kentucky tax return? A. No, you do not have a filing requirement with Kentucky because your modified gross income is not greater than $12,880; however, you will need to file a return to claim a refund of any Kentucky income tax withheld.
Kentucky Department of Revenue P. O. Box 856905 Louisville, KY 40285-6905 Kentucky Department of Revenue Frankfort, KY ... Applicable to Forms 720, 720U, PTE, and 725.
Description:You cannot eFile a KY Tax Amendment anywhere, except mail it in.
How to Start an LLC in Kentucky Choose a Name for Your LLC. ... Appoint a Registered Agent. ... File Articles of Organization. ... Prepare an Operating Agreement. ... Obtain an EIN. ... File Annual Reports.
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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.
Nonresidents who answered \u201cNo\u201d to any of the statements above must file Form 740-NP to report Kentucky income. INSTRUCTIONS This form may be used by qualifying full-year nonresidents to claim a refund of Kentucky income taxes withheld. during 2020.
Kentucky Form 725 is designed to tax the single member, individually owned Limited Liability Corporation (LLC) where the income from a business owned by an individual is taxed as a corporation, if business done by the LLC was done in Kentucky.
Can I e-file the Kentucky Form 725 Single Member LLC through Drake Tax? Yes, starting in Drake19, KY Form 725, Single Member LLC Individually Owned Income and LLET Return, can be generated and e-filed through Drake Tax. To generate KY Form 725, first complete the federal data entry screens, as applicable.
Family Size Tax Credit - The 2021 threshold amount is $12,880 for a family of one, $17,420 for a size of two, $21,960 for a size of three, and $26,500 for a family size of four or more people.

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