Form 740 Ez – Fill Out and Use This PDF

740-EZ

Commonwealth of Kentucky

Department of Revenue

*1700030003* KENTUCKY

INDIVIDUAL INCOME TAX RETURN

Single Persons With No Dependents

2017

1	Enter federal Adjusted Gross Income from Form 1040EZ, line 4. This is your Kentucky Modified Gross
	Income (If $16,040 or less, you may qualify for the Family Size Tax Credit. See instructions on page 2.)	1
2	Standard deduction	2
3	Subtract line 2 from line 1. This is your Taxable Income	3
4	Enter tax from Tax Table or Tax Computation for amount on line 3	4
5	Personal tax credit	5
6	Subtract line 5 from line 4. If line 5 is larger than line 4, enter zero	6

7Multiply line 6 by the Family Size Tax Credit for Family Size 1 decimal amount __ . __ __ ( __ __ __ %)

	and enter here (see instructions on page 2)	7
8	Subtract line 7 from line 6. This is your Income Tax Liability	8
9	Enter Kentucky Use Tax due on Internet, mail order, or other out-of-state purchases (see instructions)	9
10	Add lines 8 and 9. This is your Total Tax Liability	10
11	Enter Kentucky Income Tax withheld as shown on ENCLOSED Schedule KW-2	11
12	If line 11 is larger than line 10, enter AMOUNT OVERPAID (see instructions)	12

13Fund Contributions; see instructions.

(a)	Nature and Wildlife Fund		00	(e)	Farms to Food Banks Trust Fund					00
(b)	Child Victims’ Trust Fund		00	(f)	Local History Trust Fund					00
(c)	Veterans’ Program Trust Fund..		00	(g)	Special Olympics Kentucky					00
(d)	Breast Cancer Research/			(h)	Pediatric Cancer Research Trust Fund ..					00
	Education Trust Fund		00	(i)	Rape Crisis Center Trust Fund					00
14	Add lines 13(a) through 13(i)									14
15	..........................................Subtract line 14 from line 12. Amount to be refunded to you						REFUND			15
	REFUND OPTIONS
	Check here if you would like your refund issued on a Bank of America Prepaid Debit Card
	Check here if you would like to receive your Debit Card material in Spanish
16	If line 10 is larger than line 11, enter amount you owe							OWE		16

	00
2,480	00
	00
	00
10	00
	00
	00
	00
	00
	00
	00
	00

00

00

00

REFUNDS

MAIL TO: Kentucky Department of Revenue

P. O. Box 856970

Louisville, KY 40285-6970

PAYMENTS

MAIL TO: Kentucky Department of Revenue

P. O. Box 856980

Louisville, KY 40285-6980

lMake check payable to Kentucky State Treasurer

lInclude your Social Security number and “KY Income Tax—2017”

lVisit www.revenue.ky.gov for electronic payment options

Form 740-EZ (2017)

INSTRUCTIONS—FORM 740-EZ

Page 2 of 2

Who May Use Form 740-EZ—You may use Form 740-EZ if all five of the following apply:

you were a Kentucky resident for the entire year;

you are filing federal Form 1040EZ;

your filing status is single;

you do not claim additional credits for being age 65 or over, blind, or a member of the Kentucky National Guard at the end of 2017; and

you had only wages, salaries, tips, unemployment compensation, taxable scholarship or fellowship grants, and your taxable interest was $1,500 or less.

If you do not meet all five of the above requirements, see Form 740 instructions.

When to File—The 2017 Form 740-EZ and any tax due must be postmarked no later than April 17, 2018, to avoid penalties and interest.

Social Security Number—You are required to provide your social security number per Section 405, Title 42, of the United States Code. This information will be used to establish your identity for tax purposes only.

COMPLETING FORM 740-EZ—For more information, see the General Instructions. You may also contact the Department of Revenue in Frankfort at (502) 564-4581 or a Kentucky Taxpayer Service Center.

Please print your numbers inside the boxes with black ink. Do not use dollar signs.

Political Party Fund Designation—You may designate $2 of your taxes to either the Democratic or Republican party if you have a tax liability of at least $2.

LINE-BY-LINE INSTRUCTIONS

Line 1—Enter federal adjusted gross income from Form 1040EZ, Line 4. (Do not confuse federal adjusted gross income with federal taxable income shown on the federal return.) If $16,040 or less, see instructions for Line 7 and enter the decimal amount on Line 7.

If you are not required to file a federal income tax return, enter the total income from sources within and without Kentucky.

Line 2—The standard deduction of $2,480 has been preprinted. If your itemized deductions exceed $2,480, it will benefit you to file Form 740 and itemize your deductions on Schedule A.

Line 4—Compute your tax using the following tax rate schedule.

If taxable income is:

Tax before credit is:

$0 — $3,000 ................ 2% of taxable income

$3,001	—	$4,000	3% of taxable income minus $30
$4,001	—	$5,000	4% of taxable income minus $70
$5,001	—	$8,000	5% of taxable income minus $120
$8,001	— $75,000		5.8% of taxable income minus $184
$75,001 and up			6% of taxable income minus $334

Example: (Taxable income) $8,500 x 5.8% – $184 = $309

Note: An optional tax table is available online at www.revenue.ky.gov or by calling the Department of Revenue, (502) 564-4581.

Line 7—Family Size Tax Credit—For single persons eligible to file Form 740-EZ, Kentucky family size is one and Kentucky modified gross income is equal to federal adjusted gross income. A family size tax credit is allowed for single persons whose Kentucky modified gross income is not over $16,040. If over $16,040, you do not qualify for this tax credit. Skip Line 7.

Enter in the space provided the decimal amount from the following table.

	Family Size		Percent of Tax
	One		as Family Size Tax Credit
If the Kentucky modified			Enter decimal amount
gross income (Line 1) is:			on Line 7
	over	but not over
$	0	$12,060	1.00	(100%)
$	12,060	$12,542	0.90	(90%)
$	12,542	$13,025	0.80	(80%)
$	13,025	$13,507	0.70	(70%)
$	13,507	$13,990	0.60	(60%)
$	13,990	$14,472	0.50	(50%)
$	14,472	$14,954	0.40	(40%)
$	14,954	$15,316	0.30	(30%)
$	15,316	$15,678	0.20	(20%)
$	15,678	$16,040	0.10	(10%)

Multiply amount on Line 6 by decimal amount. Enter result on Line 7. This is your Family Size Tax Credit.

Line 9, Kentucky Use Tax—Enter 6 percent of out-of-state purchases for use in Kentucky on which sales tax was not charged. Include Internet and catalog purchases, subscriptions, furniture, carpet, boats, etc.

Line 11, Kentucky Tax Withheld—Enter the amount of Kentucky income tax withheld as shown on your Schedule KW-2. This schedule must be enclosed with your return. It is no longer necessary to submit Form W-2s, 1099s, and W2-Gs with your return. Please retain these forms with your records and provide upon request.

Line 12—If the amount on Line 11 (Kentucky Tax Withheld) is more than the amount on Line 10 (Total Tax Liability), you have an overpayment and are due a refund. Subtract Line 10 from Line 11, and enter the difference on Line 12 as an overpayment. However, if your Total Tax Liability on Line 10 is larger than Line 11, you owe additional tax. Subtract Line 11 from Line 10 and enter on Line 16.

Line 13—If you show an overpayment on Line 12, you may contribute to: (a) the Nature and Wildlife Fund, (b) the Child Victims’ Trust Fund, (c) the Veterans’ Program Trust Fund, (d) the Breast Cancer Research and Education Trust Fund, (e) the Farms to Food Banks Trust Fund, (f) the Local History Trust Fund, (g) Special Olympics Kentucky, (h) the Pediatric Cancer Research Trust Fund, and/or

(i)the Rape Crisis Center Trust Fund. Donations are voluntary and amounts donated will be deducted from your refund.

Enter the amount(s) you wish to contribute on Lines 13(a) through 13(i). The total of these amounts cannot exceed the amount of the overpayment.

Line 16—You must pay any tax due shown on Line 16. Make check payable to Kentucky State Treasurer, and attach it to your return. On the face of the check, please write “KY Income Tax–2017” and your Social Security number.

Underpayment of Estimated Tax—You may have to pay a penalty if the amount owed is more than $ 500 and the amount owed is more than 30 percent of the income tax liability on Line 8. You may choose to have the Department of Revenue calculate the penalty for you. If you owe a penalty a bill will be sent. However, if you want to calculate the penalty yourself on Form 2210-K, you must file Form 740 to do so.

Interest and Penalties—File your return and pay any additional tax due by April 17, 2018, to avoid interest and penalties. See the General Instructions or contact the Department of Revenue for additional information.