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Get Ky Form 228-s - Fayette County 2024-2025
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How to fill out the KY Form 228-S - Fayette County online
The KY Form 228-S for Fayette County is an important document used for reporting net profits occupational license tax. This guide provides clear, step-by-step instructions designed to help you fill out this form accurately and efficiently online, regardless of your familiarity with legal documents.
Follow the steps to complete your KY Form 228-S online
- Press the ‘Get Form’ button to access the document and open it for editing in your preferred format.
- Complete the top section of the form by entering your Account Number, Federal ID or Social Security Number.
- In section A, provide the nature of your business.
- In section B, indicate the date your business started in Fayette County.
- If your organization has been discontinued, specify the date of dissolution in section C.
- In section D, indicate if you had employees in Fayette County during the previous year by checking 'Yes' or 'No'.
- Respond to section E regarding any federal changes to your net income for prior years. If applicable, indicate if amended returns have been filed.
- In section F, check the box if your business had no activity within Fayette County.
- Select your filing status in section H by checking the appropriate box, indicating whether you are an Individual, Partnership, S-Corp, Corporation, or Other.
- Complete section 1 by filling in the adjusted net profit, average allocation percentage, and calculating the license tax due. Make sure to attach any necessary federal schedules.
- Calculate the balance due by adding lines for interest and penalties, if applicable, in section 1.
- Move to section 2 to calculate your allocation percentage using the provided factors.
- Finally, ensure all sections are fully completed and sign the form, then enter the relevant dates and print your name before submitting.
- Once everything is verified, save the changes, download the completed form, and print it if necessary.
Complete your KY Form 228-S online today to ensure timely and accurate filing.
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Kentucky has a flat income tax rate of 5% on net income. Fayette County levies a local occupational license tax at the rate of 2.25% on salaries/wages and business net profits. Fayette County Schools levy a local occupational license tax at the rate of 0.5% on salaries/wages and business net profits.
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