103 KAR 15:050. Filing dates and extensions

Link to law: http://www.lrc.ky.gov/kar/103/015/050.htm
Published: 2015

      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.)
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