Get Form 228 - Lexingtonky.gov

Filling out the Form 228 - Net Profits License Fee Return is a crucial step for businesses operating in Fayette County, Kentucky. This guide provides clear, step-by-step instructions to help you complete the form accurately and efficiently online.

Follow the steps to fill out the Form 228 correctly.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by entering your business information at the top of the form. This includes your business name, address, and federal identification number or social security number as applicable.
3. Indicate whether this is an initial, amended, or final return by checking the appropriate box. If your address has changed, make sure to update it.
4. Proceed to Section 1, where you will calculate your license fee liability. Start with line 1 by entering your adjusted net business income from the Worksheet provided on the reverse side.
5. Continue filling out lines 2 through 6, including your apportionment percentage and any deductions applicable to your situation.
6. Move to Section 2, where you calculate your business allocation percentage. Complete the sales and payroll factors, even if your business is wholly within Fayette County.
7. Use Worksheet 1 to calculate your adjusted net business income and ensure that you account for all relevant income and deductions.
8. After completing all sections, review your entries for accuracy, and make sure all questions are answered appropriately.
9. Once you have finished filling out the form, you can save your changes, download a copy, or print it for submission.

Complete your Form 228 online today to ensure compliance and take advantage of available exemptions.