The lease form contains many detailed provisions not found in a standard oil and gas lease form. Due to its length, a summary would not adequately describe each of the terms. It is suggested that if you consider adopting the form for regular use, that you print the form and closely read and review it. The lease form is formatted in 8-1/2 x 14 (legal size).
Kentucky Lessor's Form
Category:
State:
Multi-State
Control #:
US-OG-092
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Lessor's Form?
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FAQ
The vehicles you report should have regular type registrations where property taxes are payable to the county clerk in the county where the vehicle is customarily kept. If leased vehicles are reported the public service company, as lessee, must be responsible for paying the motor vehicle property tax.
Enter name(s) and address of buyer(s) on the first line at the top. On the next two lines on the left, the seller (Transferor) must print name(s) and sign on the lines as provided. MAKE SURE TO PRINT YOUR NAME (OR NAMES) EXACTLY as appears on the front of the title (DON'T USE SHORT NAMES OR NICKNAMES!).
Tax-exempt goods Some goods are exempt from sales tax under Kentucky law. Examples include groceries, prescription drugs, and some manufacturing equipment.
All property in Kentucky, unless exempted by the Kentucky Constitution or statute, is subject to taxation. Tangible personal property is not exempted.
A Kentucky car title transfer consists of two stages. The buyer and seller meet in person, with a notary public. The buyer pays the seller. All three parties (buyer, seller, and notary) fill out and sign the physical title certificate.
All rental income must be reported on your tax return, and in general the associated expenses can be deducted from your rental income.
Once a business entity or individual is deemed to be in the business of renting real property, all of the real property rental income is subject to the Occupational License tax, regardless of the property class or annual gross rental receipts.
Kentucky law lowers personal income tax rates for 2023 and 2024 and removes triggers for future rate cuts. On February 17, 2023, Kentucky Governor Andy Beshear signed into law H.B.1, which lowers the state personal income tax rate to 4.5% retroactive to January 1, 2023, and to 4.0% effective January 1, 2024.