Add Checkmark To Legal Kentucky Franchise Forms For Free

To form a Kentucky S corp, you'll need to ensure your company has a Kentucky formal business structure (LLC or corporation), and then you can elect S corp tax designation. If you've already formed an LLC or corporation, file Form 2553 with the Internal Revenue Service (IRS) to designate S corp taxation status.

First, all LLC owners need to sign Form 2553 to consent to the S corp election. This can sometimes be difficult to coordinate, especially if you have a large number of owners. Second, the IRS can take at least six to eight weeks to process your election request.

You can submit the documents necessary to convert your LLC to an S-Corp for tax purposes along with your tax return. In some situations, your election to be taxed as an S-Corp might not be effective until the following tax year, so the rest of your tax return should reflect this fact if it applies.

Form 720EXT grants an automatic 6-month extension of time to file Form 720. Kentucky State General Business S Corporation tax extension Form 720EXT is due within 4 months and 15 days following the end of the corporation reporting period.

To check the status of your Kentucky state refund online, go to . Click on ?Get Refund Status? to view your refund status.

You will be required to obtain a new EIN if any of the following statements are true. A new LLC with more than one owner (Multi-member LLC) is formed under state law. A new LLC with one owner (Single Member LLC) is formed under state law and chooses to be taxed as a corporation or an S corporation.