Extension of Time to File
In accordance with the provisions of
KRS 131.081(11), KRS 141.170, and Regulation
103 KAR 15:050, a six- or seven-month extension of time to file a Kentucky corporation income tax and LLET return or limited liability pass-through entity and LLET return may be obtained by either:
- Requesting an extension pursuant to
KRS 141.170 before the date prescribed by
KRS 141.160 for filing the return, i.e., the 15th day of the fourth month following the close of the taxable year; or
- Submitting with the tax return a copy of federal Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.
Federal Extension
A corporation or limited liability pass-through entity granted an extension of time for filing a federal income tax return will be granted the same extension of time for filing a Kentucky income and LLET return for the same taxable year provided a copy of the federal Form 7004 is attached to the Kentucky income and LLET return when it is filed. A copy of the federal Form 7004 shall not be mailed to the Department of Revenue (DOR) before filing the return.
If submitting payment with extension, use Kentucky Form 720EXT.
Kentucky Extension
A six-month extension for pass-through entities, including S-corporation (Form PTE or 725), and a seven-month extension of time to file a Kentucky corporation income tax and/or LLET return for corporations (Form 720 or 720U) may be obtained by either making a specific request to DOR or attaching a copy of the federal extension to the return when filed.
A copy of the federal extension (Form 7004) submitted after the return is filed does not constitutes a valid extension, and late filing penalties will be assessed. If a corporation or limited liability pass-through entity is making a payment with its extension, Kentucky Form 720EXT must be used.
Filing Tip: A copy of either federal Form 7004 or Kentucky Form 720EXT must be attached to the return when filed, and a copy should be retained for the corporation's or limited liability pass-through entity's records.
Consolidated and Unitary Combined Returns
An extension of time for filing a consolidated or unitary combined Kentucky corporation income tax and LLET return by the parent or designated filer corporation constitutes an extension of time to file for each member of an affiliated group (consolidated) or combined group (unitary combined).
Payment of Tax
An extension of time to file a return does not extend the date prescribed for payment of tax. Therefore, a check made payable to the Kentucky State Treasurer for the amount of any unpaid tax should be submitted to DOR along with Form 720EXT on or before the 15th day of the fourth month following the close of the taxable year.
Electronic Funds Transfer (EFT)
DOR is accepting electronically filed Corporation Income Tax/Limited Liability Entity Tax estimated tax voucher payments for corporation income tax and limited liability entity tax. Before filing by EFT, the corporation must have a valid six-digit Kentucky Corporation/LLET account number and have registered with the DOR. Using an incorrect account number, such as an account number for withholding tax or sales and use tax or a Secretary of State Organization Number, will result in the payment being credited to another corporation's account. For more information or for online registration, contact the DOR at 1-800-839-4137 or (502) 564-6020.
Penalty
A penalty of 2 percent of the tax due for each 30 days or fraction thereof may apply to any tax not paid by the 15th day of the fourth month following the close of the taxable year. KRS131.180(2)
Interest
Interest at the tax interest rate plus 2 percent applies to any tax paid after the 15th day of the fourth month following the close of the taxable year.
KRS 131.183(2)