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filling kentucky c corporation tax return?
Posted by admin on Mar 6th, 2009
mamu asked:
i am filling kentucky tax return today as it’s the deadline after 6 months extension. Have a questuion.
i am filling kentucky tax return today as it’s the deadline after 6 months extension. Have a questuion.
I am trying to do this return my self as corporation didn’t do any business and has just 0 return.
But i am getting little confused here in for 720 for llet. It says that minimum llet is $175. Do i have to pay them $175 even company didn’t do anything other than forming a company.
If anyone has insight in ky c corp 720 return, any help is appreciated.
Yes, you have to pay the $175. The price of doing business in KY. Unless your business fits any of the exemptions in the instructions – non-profit, church, banks, or a pass-through entity of some kind.
Since you incorporated in KY, KY makes the rules (they would call them laws).
KY, and most states, charge something for the privilege of incorporating. If you don’t pay their fee, they will dissolve your corporation.
You have to decide if you want to keep it or not.
Lots of states have a minimum tax, $175 isn’t bad. Massachusetts charges $456, Vermont charges $250. You might want to check and make sure that you don’t also have to file an annual report with the Kentucky secretary of state’s office for your corporation.