Form OL-3 PDF Details

The Louisville Metro OL-3 form plays a pivotal role for individuals and business entities operating within the Louisville Metro area, Kentucky. This comprehensive form, designated for the Occupational License Tax Return, serves not only as a fundamental tool for tax submission but also encapsulates a variety of essential elements that are crucial for compliance with local tax regulations. The form is meticulously designed to cater to a wide range of taxpayers including residents, non-residents, individuals operating without employees, and excludes certain groups such as domestic servants and ministers. It features sections for declaring net profits, calculating due taxes based on adjusted net profits, and provides specified areas for amendments, indicating changes in operation status like cessation or address changes. Additionally, it entails a rigorous tax computation segment tailored to differentiate between Louisville Metro residents and non-residents, with distinct tax rates applicable. Attention to deadlines and the provision for penalties and interests in cases of delinquency are highlighted, underscoring the importance of timely submission. The form mandates a detailed documentation process, necessitating attachments such as the federal Schedule C for validation of declared income, and underscores the penalties for non-compliance or submission of inaccurate information, thereby ensuring the integrity of the tax return process within the Louisville Metro jurisdiction.

QuestionAnswer
Form Name Louisville Metro Form Ol 3
Form Length 2 pages
Fillable? No
Fillable fields 0
Avg. time to fill out 30 sec
Other names ol 3 form, ol3, louisville tax return, fill in ol 3 louisville

Form Preview Example

FOR OFFICIAL USE ONLY

DO NOT STAPLE FORMS

LOUISVILLE METRO REVENUE COMMISSION

FORM

OL-3A

OCCUPATIONAL LICENSE TAX RETURN

CHECK IF “FINAL RETURN” Date Operations Ceased: _____________ (Required to close account.)

CHECK IF “NO ACTIVITY” FOR YEAR

CHECK IF CHANGE IN ADDRESS IS BELOW

CHECK IF THIS IS AN AMENDED RETURN

ACCOUNT NUMBER

Name

_____________________________________________________________________________

Address

_____________________________________________________________________________

City

_____________________________________________ State ________

Zip _________

Federal ID

____________________________ Phone No. ______________________

Ext __________

Income or (Loss):

1.Amount of Net Profit per your federal Schedule C

FOR YEAR ENDING

MM DD YY

(Attach a copy of Schedule C of Form 1040)

2.Add: Occupational taxes deducted on Schedule C

3.Adjusted Net Profit (Line 1 + Line 2)

Tax Computation:

Do you live in Louisville Metro, Kentucky? If “yes”, complete Section A. If “no”, complete Section B.

Section A. Residents of Louisville Metro, Kentucky:

4.Adjusted Net Profit per Line 3 above

5. Tax Due [Multiply Line 4, Section A, by (.0220)]

6.Penalty and Interest

7.Amount to be paid (Line 5 + Line 6)

Section B. Non-residents of Louisville Metro, Kentucky:

4.Adjusted Net Profit per Line 3 above

5. Tax Due [Multiply Line 4, Section B, by (.0145)]

6.Penalty and Interest

7.Amount to be paid (Line 5 + Line 6)

1.)

$________________

2.)

$________________

3.)

$________________

4.) $________________

5.) $________________

6.) $________________

7.) $________________

4.) $________________

5.) $________________

6.) $________________

7.) $________________

I hereby certify, under penalty of perjury, that the information provided and the attached supporting schedules are true, correct, and complete to the best of my knowledge.

 

/

/

 

 

 

 

 

/

/

Preparer’s Signature (Return must be signed.)

 

Date

 

 

Signature of Licensee (Return must be signed.)

Date

 

 

 

 

 

 

 

 

 

 

 

Print Name

 

Federal ID

 

 

Print Name

Title

 

 

 

 

 

 

 

 

 

 

Address

 

Phone No.

 

 

Social Security Number

 

 

ATTENTION: Federal ID Numbers and Social Security Numbers must be supplied for both the Tax Preparer and the Licensee.

 

 

Mail Form OL-3A, along with a copy of the federal Schedule C, and a check or money order with your account number. The return and payment of taxes due must be received or postmarked by April 15th to avoid penalties and interest.

MAILING ADDRESS: P.O. BOX 35410  LOUISVILLE, KENTUCKY 40232-5410

Telephone: (502) 574-4860  www.metrorevenue.org  Fax: (502) 574-4818  taxhelp@metrorevenue.org  TDD: (502) 574-4811

GENERAL INSTRUCTIONS

Explanation of Occupational Taxes: The Louisville Metro Revenue Commission (hereinafter referred to as the “Revenue Commission”) collects Occupational License Fees/Taxes (hereinafter referred to as “Occupational Taxes”) on all income resulting from transacting business within Louisville Metro, Kentucky. There is no minimum earned income amount before you are liable for filing a tax return. The occupational tax is imposed upon the privilege of engaging in a business, profession, occupation, or trade within Louisville Metro, Kentucky, regardless of the legal residence of the person so engaged. Louisville Metro includes the area within the boundaries of Jefferson County, Kentucky. The current rate for Occupational Taxes totals 2.2% (.0220). This total is distributed as follows: 1.25% (.0125) to Louisville Metro Government;

.2% (.0020) to Transit Authority of River City (TARC); and .75% (.0075) to the Louisville or Anchorage Public School Boards. The occupational license tax rate is applicable to the “net profits” of business entities, independent contractors and self- employed individuals, and to the gross employee compensation of employed individuals. Individuals who reside outside Louisville Metro, Kentucky, are exempt from the School Board tax.

Who May Use This Form: This return may be used only if all of the following apply:

(a)You are an individual (not a corporation or a partnership).

(b)You had no employees for the calendar year.

(c)You are not a domestic servant or a minister.

(d)You were not engaged in the activity of selling alcoholic beverages.

(e)All of your income per Schedule C was earned in Louisville Metro, Kentucky.

(f)You were either a resident for the entire year or a non-resident for the entire year.

NOTE: If you meet the conditions above and you had no business expenses, you should file Form OL-3EZ.

The salaries and wages of domestic servants and duly ordained ministers of religion are exempt from all the local occupational taxes, except the (.0075) School Board’s tax. Domestic servants and ordained ministers must use Form OL-3. All other individuals whose earnings within Louisville Metro, Kentucky, were from salaries, wages, commissions, or other compensation received from one or more employers, and on which occupational license taxes were not withheld [deducted by the employer(s)], must file an annual return on Form OL-3, OL-3A, or OL-3EZ, whichever is applicable. If the taxpayer is deceased, the return(s) must be filed by his or her legal representative.

Period Covered: Form OL-3A is to be filed based upon a calendar year.

Extensions: If an extension of time for filing is required, a separate extension request to the Louisville Metro Revenue Commission is mandatory in all cases. You must file Form OL-3E or a copy of your federal extension application to request an automatic 6-month extension to file Form OL-3A. All extension requests should include your Revenue Commission account number. The extension must be postmarked or hand-delivered to the Revenue Commission, 617 West Jefferson Street, Louisville, Kentucky 40202, on or before the original due date. Any tax due must be paid by April

15th.

Payment of Occupational Taxes: interest. The deadline is April 15th. Metro Revenue Commission.

The occupational taxes must be paid in full at the time of filing to avoid penalties and Do not send cash through the mail. Please make your check payable to the Louisville

Penalty and Interest: There is a penalty of five percent (5%) per month or a fraction of a month to a maximum of twenty-five percent (25%) for failure to file a tax return by the regular or extended due date. There is an additional five percent (5%) penalty for late payment of the occupational tax. Interest is computed at twelve percent (12%) per annum from the original due date until the date of payment.

Failure to File Return and/or Pay Occupational Tax: Any person (including a corporation) who willfully fails to prepare or file a timely return, or who willfully prepares or files a false or inaccurate return, is subject, upon conviction, to a fine not exceeding $100.00. The failure of any person to receive a return shall not excuse him or her from filing a return or from paying the proper occupational tax.

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Put the expected details in the Section B Nonresidents of, Tax Due Multiply Line Section B, Adjusted Net Profit per Line, I hereby certify under penalty of, Preparers Signature Return must be, Date, Signature of Licensee Return must, Print Name, Federal ID, Print Name, Date, Title, Address, Phone No, and Social Security Number box.

ol 3 Section B Nonresidents of, Tax Due Multiply Line Section B, Adjusted Net Profit per Line, I hereby certify under penalty of, Preparers Signature Return must be, Date, Signature of Licensee Return must, Print Name, Federal ID, Print Name, Date, Title, Address, Phone No, and Social Security Number blanks to fill

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