Yes, the composite return is a return filed on behalf of nonresident individual partners, members or shareholders. Per KRS 141.300, if the tax liability for an individual partner, member or shareholder can be expected to be over $500, then estimated payments are required. Interest and penalty bills will be issued for underpayment of estimated payments.Individual Partner, Member or Shareholder estimated installment payments:
1st installment: due the 15th day of the 4th month of the taxable year end
2nd installment: due the 15th day of the 6th month of the taxable year end
3rd installment: due the 15th day of the 9th month of the taxable year end
4th installment: due the 15th day of the 1st month following the close of the taxable year end
Note: If the filing/payment date falls on a Saturday, Sunday or a legal holiday, the filing/payment date is deemed to be on the next business day.