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PTE-WH 40A200 (10-06) Amended Return KENTUCKY NONRESIDENT INCOME TAX WITHHOLDING ON NET DISTRIBUTIVE

PTE-WH 40A200 (10-06) Amended Return KENTUCKY NONRESIDENT INCOME TAX WITHHOLDING ON NET DISTRIBUTIVE 2025

PTE-WH 40A200 (10-06) Amended Return KENTUCKY NONRESIDENT INCOME TAX WITHHOLDING ON NET DISTRIBUTIVE Preview on Page 1

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The document outlines the Kentucky Nonresident Income Tax Withholding requirements for general partnerships regarding net distributive share income. It includes instructions for completing the PTE-WH form, detailing necessary information such as the partnership's FEIN, individual partner details, and calculations for tax withholding based on distributive share income. The form must be submitted to the Kentucky Department of Revenue and copies provided to individual partners.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the general partnership’s Federal Identification Number (FEIN) in the designated field.
Next, fill in the general partnership’s name, address, and ZIP code accurately.
Input the individual’s Social Security number in the appropriate section.
Enter the individual’s name, address, and ZIP code as required.
Calculate and input the individual’s net distributive share income subject to withholding. This involves combining income and loss items from Schedule K-1, applying allowable deductions, and multiplying by the nonresident percentage.
Multiply the amount on line 5 by 6% and enter this figure as tax before credit.
Subtract any general partner credits that can be reasonably expected to be claimed during the year from line 7.
Finally, subtract line 8 from line 7 to determine the Kentucky income tax to be withheld.

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What is the withholding tax rate in Kentucky?

Deductions, Allowances, Taxes, and Exemptions Since Kentucky uses a flat tax rate, the tax withholding is simply 4.0% of the taxable income.

What is the NRWT for non-resident withholding tax?

Non-resident withholding tax (NRWT) is a tax withheld from New Zealand payments of interest, dividends, and royalties to non-residents (foreign investors). These kinds of payments are called non-resident passive income (NRPI).

Is Kentucky getting rid of their state income tax?

The individual income tax rate remains at 4% for 2025, but legislation is already in place to reduce it to 3.5% effective January 1, 2026. This systematic approach aims to eventually eliminate the state income tax entirely, positioning Kentucky among the nine states with no individual income tax.

What is Kentucky nonresident income tax withholding on distributive share income tax?

What is the nonresident withholding tax? Every pass-through entity doing business in Kentucky, except publicly traded partnerships, must withhold income tax on the distributive share incomewhether distributed or undistributedof each nonresident individual partner, member, or shareholder. The withholding rate is 5%.

How much is non-resident withholding tax?

Canadian financial institutions and other payers have to withhold non-resident tax at a rate of 25% on certain types of Canadian-source income they pay or credit to you as a non-resident of Canada. The most common types of income that could be subject to non-resident withholding tax include: interest. dividends.

How to calculate Kentucky state tax withholding?

Annual wages minus the Kentucky standard deduction equals annual Kentucky wages. Compute tax on wages using the 4% Kentucky flat tax rate to determine gross annual Kentucky tax. Divide the gross annual Kentucky tax by the number of annual pay periods to determine the Kentucky withholding tax for the pay period.

What is the number for non-resident withholding in Kentucky?

If you need assistance with nonresident withholding, please call (502) 564-8139 or email us at DORWebResponsePassThroughEntity@ky.gov.