Kentucky Form 740 – Fill Out and Use This PDF

The Kentucky 740 form is the cornerstone document for full-year residents who need to file their individual income tax returns with the Department of Revenue. It meticulously guides taxpayers through the process of reporting income, calculating tax liability, and claiming any eligible deductions or credits. As financial responsibilities beckon, ensuring accuracy on this form is crucial for avoiding potential penalties and maximizing possible refunds. For a smooth and correct filing process, click the button below to fill out your form.

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Kentucky Form 740 PDF Details

Exploring the nuances of Kentucky's 740 form, a pivotal tool for individuals navigating through their state income tax returns, sheds light on the comprehensive approach the state takes towards taxation. Introduced by the Department of Revenue, the document is tailored specifically for full-year residents for the tax year beginning and ending in specified dates, enshrined with a detailed layout encompassing personal information, income details, deductions, credits, and due tax calculations. It comfortably addresses various filing statuses, aligns with federal tax figures to streamline the process, and incorporates sections for potential refunds or additional taxes owed, including a detailed method for calculating the amount. Through its meticulous design, it prompts filers towards accurate reporting by enabling itemization or standard deductions, and it even allows for direct contributions to state funds, illustrating Kentucky’s methodical approach in rendering its tax system both user-friendly and conducive to public engagement. Moreover, the form takes into account diverse tax credits, ranging from personal to business incentives, thereby reflecting the state's efforts to cater to a broad spectrum of taxpayers’ needs. The essence of the 740 form lies not just in its function as a tax document but also in its role in fostering a collaborative tax-paying environment, where benefits and responsibilities are clearly delineated.

Question	Answer
Form Name	Kentucky Form 740
Form Length	3 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	45 sec
Other names	form, tax, ABUSINESS, 1040EZ

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740		1200030001			INDIVIDUAL INCOME TAX RETURN
Department of Revenue		1200030001			INDIVIDUAL INCOME TAX RETURN
42A740					KENTUCKY
For calendar year or other taxable year beginning _________ , 2012, and ending ________ , 20____ .					Full-Year Residents Only	2012

	A. Spouse’s Social Security Number		B. Your Social Security Number


Name—Last, First, Middle Initial (Joint or combined return, give both names and initials.)

Mailing Address (Number and Street including Apartment Number or P.O. Box)

City, Town or Post Ofﬁce			State	ZIP Code

Attach Form W-2(s), Other Supporting Statement(s) and Payment Here—Staple to Top Page Only

			FILING STATUS (see instructions)						POLITICAL PARTY FUND
1			Single						Designating $2 will not change your refund or tax due.
2			Married, ﬁling separately on this combined return. (If both had income.)									A. Spouse			B. Yourself
3			Married, ﬁling joint return.						Democratic			(1)			(4)
4			Married, ﬁling separate returns. Enter spouse’s Social Security number above						Republican			(2)			(5)
			and full name here.						No Designation			(3)			(6)


INCOME/TAX								A. Spouse (Use if					B.	Yourself
5	Enter amount from federal Form 1040, line 37; 1040A, line 21 or							Filing Status 2 is checked.)						(or Joint)
	1040EZ, line 4. (If total of Columns A and B is $30,657 or less, you
					•	5			00	•	5					00
	may qualify for the Family Size Tax Credit. See instructions.)								00							00
												00					00
6	Additions from Schedule M, line 8					•	6			•	6	00					00
6	Additions from Schedule M, line 8					•	6			•	6	00					00
7	Add lines 5 and 6						7				7	00					00

				.............................................................		•				00		•					00
8	Subtractions from Schedule M, line 20						8			00	8						00
8	Subtractions from Schedule M, line 20						8			00	8						00
9	Subtract line 8 from line 7. This is your Kentucky Adjusted Gross Income						9			00		9					00


10	Itemizers: Enter itemized deductions from Kentucky Schedule A.
	Nonitemizers: Enter $2,290 in Columns A and/or B					• 10				00	• 10						00
11	Subtract line 10 from line 9. This is your Taxable Income					• 11				00	• 11						00
12	Enter tax from Tax Table, Computation or Schedule J.									00							00
	Check if from Schedule J						12			00		12					00
	Check if from Schedule J			...........................................................................			12					12
13	Enter tax from Form 4972-K			; Schedule RC-R		• 13				00	• 13						00
14	Add lines 12 and 13 and enter total here						14			00		14					00
14	Add lines 12 and 13 and enter total here						14					14
15	Enter amounts from page 3, Section A, lines 22A and 22B						15			00		15					00
15	Enter amounts from page 3, Section A, lines 22A and 22B						15					15
16	Subtract line 15 from line 14. If line 15 is larger than line 14, enter zero						16			00		16					00
16							16					16
17		Enter personal tax credit amounts from page 3, Section B, lines 4A and 4B				• 17				00	• 17						00
17						• 17				00	• 17						00
										00							00
18	Subtract line 17 from line 16. If line 17 is larger than line 16, enter zero						18			00		18					00
18							18					18
19	..............................................................................Add tax amount(s) in Columns A and B, line 18 and enter here											19					00
20	Check the box that represents your total family size (see instructions before completing lines 20 and 21)										• 20		1	2	3		4
21	Multiply line 19 by Family Size Tax Credit decimal amount __ . __ __ (__ __ __%) and enter here										• 21						00
22	Subtract line 21 from line 19											22					00
23	Enter the Education Tuition Tax Credit from Form 8863-K										• 23						00
24	Subtract line 23 from line 22											24					00

25Enter Child and Dependent Care Credit

	from federal Form 2441, line 9 ➤฀		x 20% (.20)		• 25	00

26	Income Tax Liability. Subtract line 25 from line 24. If line 25 is larger than line 24, enter zero			26		00
27		Enter KENTUCKY USE TAX due on Internet, mail order, or other out-of-state purchases (see instructions)			• 27	00

28	Add lines 26 and 27. Enter here and on page 2, line 29			28		00

FORM 740 (2012)	1200030002		Page 2 of 3
	1200030002

REFUND/TAX PAYMENT SUMMARY
29 Enter amount from page 1, line 28. This is your Total Tax Liability		• 29		00

30(a) Enter Kentucky income tax withheld as shown on attached

		2012 Form W-2(s) and other supporting statements		.......................................			•	30(a)								00
	(b)	Enter 2012 Kentucky estimated tax payments					•	30(b)								00
	(c)	Enter 2012 refundable certiﬁed rehabilitation credit		(KRS 141.382(1)(b))			•	30(c)								00
	(d)	Enter 2012 ﬁlm industry tax credit (KRS 141.383)					•	30(d)								00
31	Add lines 30(a) through 30(d)														•	31				00
32	If line 31 is larger than line 29, enter AMOUNT OVERPAID (see instructions)															32				00
Fund Contributions; See instructions.฀								➤฀ (ENTER AMOUNT(S) CHECKED)
33	Nature and Wildlife Fund			$10	$25	$50	Other				•	33				00
34	Child Victims’ Trust Fund			$10	$25	$50	Other				•	34				00
35	Veterans’ Program Trust Fund			$10	$25	$50	Other				•	35				00
36	Breast Cancer Research/Education Trust Fund			$10	$25	$50	Other				•	36				00
37	Add lines 33 through 36															37				00
38	Amount of line 32 to be CREDITED TO YOUR 2013 ESTIMATED TAX														• 38					00
39	Subtract lines 37 and 38 from line 32. Amount to be REFUNDED TO YOU					.................................						REFUND			• 39					00
40	If line 29 is larger than line 31, enter ADDITIONAL TAX DUE														• 40					00
41	(a)	Estimated tax penalty and/or interest.	...CHECK IF FORM 2210-K ATTACHED					41(a)								00
	(b)	Interest						41(b)								00
	(c)	Late payment penalty						41(c)								00
	(d)	Late ﬁling penalty						41(d)								00
42	Add lines 41(a) through 41(d). Enter here														• 42					00
43	Add lines 40 and 42 and enter here. This is the AMOUNT YOU OWE												OWE			43				00


	•฀฀ Make check payable to Kentucky State Treasurer or visit www.revenue.ky.gov for more options.																	OFFICIAL USE ONLY

	• Write your Social Security number and “KY Income Tax—2012” on the check.																		PWR



SECTION A—BUSINESS INCENTIVE AND OTHER TAX CREDITS									A.	Spouse							B.	Yourself

1	Enter nonrefundable limited liability entity credit (KRS 141.0401(2))							1						00		1				00
2	Enter Kentucky small business investment credit							2						00		2				00
3	Enter skills training investment credit (attach copy(ies) of certiﬁcation)							3						00		3				00
4	Enter nonrefundable certiﬁed rehabilitation credit (KRS 171.397(1)(a))							4						00		4				00
5	Enter credit for tax paid to another state (attach copy of other state’s return(s))							5						00		5				00
6	Enter unemployment credit (attach Schedule UTC)							6						00		6				00
7	Enter recycling and/or composting equipment credit (attach Schedule RC)							7						00		7				00
8	Enter Kentucky investment fund credit (attach copy(ies) of certiﬁcation)							8						00		8				00
9	Enter coal incentive credit							9						00		9				00
10	Enter qualiﬁed research facility credit (attach Schedule QR)						10							00		10				00
11	Enter GED incentive credit (attach Form DAEL-31)						11							00		11				00
12	Enter voluntary environmental remediation credit (attach Schedule VERB)						12							00		12				00
13	Enter biodiesel and renewable diesel credit						13							00		13				00
14	Enter environmental stewardship credit						14							00		14				00
15	Enter clean coal incentive credit						15							00		15				00
16	Enter ethanol credit (attach Schedule ETH)						16							00		16				00
17	Enter cellulosic ethanol credit (attach Schedule CELL)						17							00		17				00
18	Enter energy efﬁciency products credit (attach Form 5695-K)						18							00		18				00

Continue to page 3 to complete Section A

1 Enter number of

boxes checked

on line 1 ........................

2 Enter number of

dependents who:

฀ •฀ lived฀with฀you............

฀ •฀ did฀not฀live฀with฀you

(see instructions).......

฀ •฀ other฀dependents......

3 Enter total credits .........


FORM 740 (2012)		1200030040							Page 3 of 3
FORM 740 (2012)									Page 3 of 3

SECTION A—BUSINESS INCENTIVE AND OTHER TAX CREDITS (continued)					A. Spouse			B.	Yourself

19	Enter railroad maintenance and improvement credit (attach Schedule RR-I)			19		00	19			00
20	Enter Endow Kentucky credit (attach Schedule ENDOW)		.....................................	20		00	20			00
21	Enter New Markets Development Program credit			21		00	21			00
22	Add lines 1 through 21, Columns A and B. Enter here and on page 1, line 15 .			22		00	22			00

SECTION B—PERSONAL TAX CREDITS		Check Regular	Check both if 65 or over		Check both if blind

1 (a) Credits for yourself:

(b) Credits for spouse:

2 Dependents:

First name

Last name

Dependent’s

Social Security number

Dependent’s relationship to you

Check if qualifying

child for family size tax credit

3Add total number of credits claimed on lines 1 and 2.

If married ﬁling separately on a combined return (Filing Status 2), each taxpayer must claim his or her own credits from line 1, divide the credits on line 2, and enter the totals in Boxes 3A and 3B. All other

ﬁlers enter the amount from line 3 in Box 3B

➤฀

4Multiply credits on line 3A by $20 and enter on line 4A. Multiply credits on line 3B by $20 and

enter on line 4B. Enter here and on page 1, line 17, Columns A and B ..................................................................

Spouse	Yourself

• 3A	• 3B
x $20	x $20
4A	4B

SECTION C—FAMILY SIZE TAX CREDIT (List the name and Social Security number of qualifying children that are not claimed as dependents in Section B.)

First name

Last name

Social Security number

First name

Last name

Social Security number

Attach a complete copy of federal Form 1040 if you received farm, business, or rental income or loss. If not required, check here.

I, the undersigned, declare under penalties of perjury that I have examined this return, including all accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. I also understand and agree that our election to ﬁle a combined return under the provisions of Regulation 103 KAR 17:020 will result in refunds being made payable to us jointly and in each of us being jointly and severally liable for all taxes accruing under this return.

		(	)

Your Signature (If joint or combined return, both must sign.)	Spouse’s Signature	Date Signed	Telephone Number (daytime)

Typed or Printed Name of Preparer Other than Taxpayer	I.D. Number of Preparer	Date

Firm Name	EIN	Date

Mail to:



REFUNDS

PAYMENTS

Kentucky Department of Revenue, Frankfort, KY 40618-0006.

Kentucky Department of Revenue, Frankfort, KY 40619-0008.

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1. To start off, when filling in the 2015 tax table for 740, start in the section that has the subsequent fields:

2. Once your current task is complete, take the next step – fill out all of these fields - Add lines and Subtractions, Subtract line from line This is, Itemizers Enter itemized, Nonitemizers Enter in Columns A, Enter tax from Tax Table, Check if from Schedule J, Enter tax from Form K, Schedule RCR, Add lines and and enter total, Enter amounts from page Section, Subtract line from line If line, Subtract line from line If line, Add tax amounts in Columns A and, Enter Child and Dependent Care, and from federal Form line with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

3. Completing x Income Tax Liability, and s W m r o F h c a t t A is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Itemizers writing process outlined (step 3)

People generally make mistakes while filling out x Income Tax Liability in this section. You should definitely revise whatever you enter right here.

4. Now complete the next portion! Here you will have all of these REFUNDTAX PAYMENT SUMMARY Enter, Form Ws and other supporting, Add lines a through d If, Other, Other, Other, Other, Veterans Program Trust Fund, Child Victims Trust Fund, Nature and Wildlife Fund, Breast Cancer ResearchEducation, Add lines through Amount, Add lines a through d Enter, Check if Form K attached b, and c Late payment penalty empty form fields to do.

5. To wrap up your document, the final section includes a number of extra blanks. Entering SECTION ABUSINESS INCENTIVE AND, Spouse, Yourself, Enter nonrefundable limited, Enter Kentucky small business, Enter skills training investment, Enter nonrefundable certiﬁed, Enter credit for tax paid to, Enter unemployment credit attach, Enter recycling andor composting, Enter Kentucky investment fund, Enter coal incentive credit, Enter qualiﬁed research facility, Enter GED incentive credit attach, and Enter voluntary environmental should wrap up everything and you're going to be done in no time at all!

Itemizers conclusion process detailed (part 5)

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Kentucky Form 740 – Fill Out and Use This PDF

Kentucky Form 740 PDF Details

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