103 KAR 15:050.
Filing dates and extensions.
RELATES TO: KRS
131.081(11), 131.170, 136.100, 141.042, 141.160, 141.170, 141.300
STATUTORY
AUTHORITY: KRS 131.130(1), 141.042(6), 141.050(4), 141.300(6)
NECESSITY,
FUNCTION, AND CONFORMITY: KRS 131.081(10), 131.170, 141.042(6), and 141.170
authorize the Revenue Cabinet to grant a taxpayer an extension of time to file
a tax return or to pay an installment of estimated income tax. This
administrative regulation establishes the procedures to be used by an individual,
a corporation, or a noncorporate entity to obtain an extension of time to file
an income or corporation license tax return or to pay an installment of
estimated income tax for a taxable year.
Section 1.
Definitions. (1) "Corporation" means a corporation as defined in KRS
141.010(24), an S corporation as defined in KRS 141.010(25), a limited
liability company taxed as a corporation, or other entity taxed as a
corporation for Kentucky income tax purposes;
(2) "Date
prescribed by KRS 136.100 or 141.160" means the 15th day of the fourth
month following the close of the taxable year; and
(3)
"Noncorporate entity" means a partnership, a limited liability
company treated as a partnership, a trust, a fiduciary, or other entity not
taxed as a corporation for Kentucky income tax purposes.
Section 2. An
Extension of Time for Filing an Income or Corporation License Tax Return. (1)
Pursuant to KRS 131.081(11) and 141.170, a taxpayer may obtain an extension of
time for filing a Kentucky income tax return by means of either a federal
extension or a Kentucky extension.
(2) Federal
extension.
(a) A taxpayer
granted an extension of time for filing a federal income tax return shall be
granted the same extension of time for filing a Kentucky income tax return for the
same taxable year if a copy of the federal extension approval or request for an
automatic extension is attached to the Kentucky income tax return when it is
filed.
(b) An extension
of time for filing a Kentucky income tax return granted pursuant to this
subsection shall be valid for the extension period granted by the Internal
Revenue Service.
(c) A copy of
the federal extension shall not be mailed to the Revenue Cabinet on or before
the date prescribed by KRS 141.160, except as provided in Section 3 of this
administrative regulation.
(3) Kentucky
extension. A taxpayer may file an application for extension with the Revenue
Cabinet, on or before the date prescribed by KRS 141.160 for filing the return.
(a) An
individual or a noncorporate entity shall file an "Application for
Extension of Time to File Individual, Partnership and Fiduciary Income Tax
Returns for Kentucky", Revenue Form 40A102.
1. An individual
or a noncorporate entity shall state the reason for the request on the
application for extension. Inability to pay the tax liability shall not be a
valid reason.
2. An individual
or a noncorporate entity shall be notified by mail if the application for
extension is denied. A copy of an approved application for extension shall not
be returned to the individual or noncorporate entity.
3. An individual
or a noncorporate entity shall be granted an extension of time to file for six
(6) months unless the application for extension is denied.
4. An individual
outside the United States shall be granted an extension of time to file for
twelve (12) months unless the application for extension is denied.
5. A copy of the
signed and dated application for extension shall be attached to the income tax
return when it is filed.
(b) A
corporation shall file an "Application for Six-month Extension of Time to
File Kentucky Corporation Income and License Tax Return", Revenue Form
41A720SL.
1. A corporation
shall be granted an extension of time to file for six (6) months.
2. A copy of an
approved application for extension shall not be returned to the corporation.
3. The extension
shall become valid when mailed to the Revenue Cabinet on or before the date
prescribed by KRS 141.160 for filing the return.
4. The
corporation shall attach a copy of the signed and dated application for
extension to its "Kentucky Corporation Income And License Tax
Return", Revenue Form 720, when it is filed.
(4) An extension
of time for filing a consolidated Kentucky corporation income tax return shall
constitute an extension of time for filing for each member of the affiliated
group.
(5) An extension
of time for filing a corporation income tax return shall constitute an
extension of time for filing a corporation license tax return for the same
taxable year.
Section 3.
Payment of Tax. (1) An extension of time to file an income or corporation
license tax return shall not constitute an extension of time to pay the tax.
(2) A taxpayer
shall determine if an amount of tax remains unpaid on or before the date
prescribed by KRS 136.100 or 141.160 for filing the return.
(3) If tax
remains unpaid, a check for the amount of the unpaid tax shall be submitted to
the Revenue Cabinet on or before the date prescribed by KRS 136.100 or 141.160
for filing the return along with the Kentucky extension or a copy of the
federal extension.
(4) A
corporation shall write its Kentucky Account Number in the upper right hand
corner of the federal extension submitted.
(5) An
affiliated group filing a consolidated income tax return and making a payment
of tax with the application for extension shall file a Kentucky extension to
ensure the proper processing of payments.
Section 4.
Interest and Penalties. (1) Statutory interest shall be paid from the date
prescribed by KRS 136.100 or 141.160 for filing the return until the tax is
paid.
(2) If the
envelope bearing the return is postmarked on or before the filing date, a late
filing penalty shall not apply.
Section 5.
Extension of Time to Pay Estimated Income Tax. (1) A request for an extension
of time to pay an installment of estimated tax prescribed by KRS 141.042 and
141.300 shall be submitted to the Revenue Cabinet, Frankfort, Kentucky 40620.
(2) The request
shall state a basis for the extension.
(3) An extension
of time to pay an installment of estimated tax shall be granted for thirty (30)
days under exceptional circumstances.
(4) Interest
shall be paid from the due date of the installment of estimated tax until the
tax is paid.
Section 6.
Incorporation by Reference. (1) The following forms are incorporated by
reference:
(a)
"Application for Extension of Time to File Individual, Partnership and
Fiduciary Income Tax Returns for Kentucky", Revenue Form 40A102, (9-97);
and
(b)
"Application for Six-month Extension of Time to File Kentucky Corporation
Income and License Tax Return", Revenue Form 41A720SL, (9-97).
(2) These forms
may be obtained or inspected at the Kentucky Revenue Cabinet, 200 Fair Oaks
Lane, Frankfort, Kentucky 40620, or at a Kentucky Revenue Cabinet Taxpayer
Service Center, Monday through Friday, 8 a.m. to 4:30 p.m. (IG-5-1; 1 Ky.R.
328; eff. 2-5-75; Am. 9 Ky.R. 1151; eff. 5-4-83; 13 Ky.R. 26; eff. 8-12-86; 24
Ky.R. 388; 853; eff. 9-25-97.)
