141.207 Declaration and payment of estimated tax required by KRS 141.206. - Kentucky Statutes

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Page 1 of 1 141.207 Declaration and payment of estimated tax required by KRS 141.206. (1) The declaration and payment of estimated tax required by KRS 141.206(6) shall contain the following information:
(a) For a nonresident individual partner, member, or shareholder, the amount of estimated tax calculated under KRS 141.020 for the taxable year; and (b) For a corporate partner or member that is doing business in Kentucky only through its ownership interest in a pass-through entity, the amount of
estimated tax calculated under KRS 141.040 for the taxable year. (2) The declaration of estimated tax required under this section shall be filed with the department by the pass-through entity in the same manner and at the same times as
provided by:
(a) KRS 141.300, for a nonresident individual partner, member, or shareholder; and (b) KRS 141.042, for a corporate partner or member. (3) The payment of estimated tax shall be made in installments by the pass-through entity in the same manner and at the same times as provided by:
(a) KRS 141.305, for a nonresident individual partner, member, or shareholder; and (b) KRS 141.044, for a corporate partner or member. (4) A pass-through entity required to make a declaration and payment of estimated tax shall be subject to the penalty provisions of KRS 131.180 and 141.990 for any
declaration underpayment or any installment not paid on time. Effective: June 4, 2010
History: Created 2010 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 5, effective June 4, 2010.