Triva isn't available right now.
Check out the support page for our phone number and hours
Solutions
-
Corporations
-
Governments
Success stories
-
A true competitive advantage
Law firm Zarin Baum’s embrace of generative AI as the natural next step in the evolution of legal work and their adoption of CoCounsel Legal has helped them achieve remarkable efficiency gains and improved client relationships.
-
Workflow transformation drives impact
Brinks, a global leader in secure logistics and security solutions, used CoCounsel to reimagine what was possible with AI tools, turning legal challenges into a competitive advantage.
-
The forefront of audit tech
A better auditing workflow solution was the answer to multiple challenges faced by The Mercadien Group. Find out how they achieved greater efficiency by embracing Cloud Audit Suite.
Questions? We are here to help.
Products
-
Tax, audit & accounting
Recommended products
-
CoCounsel Legal
Transform your work with the only AI legal solution uniting research, drafting, and document analysis in a single experience. Designed by legal experts and built on trusted content and advanced AI, CoCounsel Legal accelerates multistep work so you can better serve your clients and grow your business.
-
CoCounsel Tax
Transform your tax practice with CoCounsel Tax, an AI-powered assistant that combines trustworthy answers, automation, and firm knowledge into one seamless platform. Enhance efficiency, reduce risk, and improve client confidence with CoCounsel Tax.
-
CLEAR
Powerful software designed for law enforcement, compliance, risk, and fraud investigators. Conduct thorough investigations with ease using our intuitive online investigation software. Efficiently, prevent, detect, and solve crime.
Questions? We are here to help.
Purchase
-
Buy books
-
Contact sales
Resources
-
Product training
-
Product communities
-
Developers
Highlights
-
2026 SKILLS showcase
Join weekly sessions to experience in-depth demonstrations of the leading legal AI products while connecting with strategic law firm leaders in knowledge management, innovation, and AI.
-
Ghosts on the ledger
Payroll fraud is a major compliance risk. Learn how payroll analytics and AI-powered tools can help exorcise phantom employees and employers.
-
Future of professionals report 2025
The Thomson Reuters Future of Professionals Report 2025 reveals how AI continues to shape professional work — and what it takes to get ahead. This year’s report shows that increased efficiency, productivity, and cost savings top the list of benefits professionals attribute to AI, making it indispensable for organizations facing rapid change.
Screen LXGen - Lexington Net Profits License Fee Return (1065)
Show all hidden content
General Information
Amended return
If the Kentucky return is amended and this box is blank, Forms 228 and 228-S are marked as amended. If the state return isn't amended, but you wish to amend Lexington-Fayette Net Profits License Fee return and Board of Education of Fayette County Net Profits Occupational License Tax return , enter
1
. If you don't wish to amend the Lexington-Fayette Net Profits License Fee return and Board of Education of Fayette County Net Profits Occupational License Tax return when amending the state return, enter
2
and Forms 228 and 228-S aren't marked as amended.Nature of business
Enter the type of business to print on Forms 228 and 228-S. Note that UltraTax CS assumes that this is the same as the federal principal business activity if no information is entered in this box.
Date business started
Enter the date that business commenced in the city of Lexington. Note that UltraTax CS assumes that the date business started is the same as on the federal return if no information is entered in this box.
Final return
If the KY return is final and this box is blank, the Lexington return is marked as final. If the KY return isn't final, but you wish to mark the Lexington return as final, enter
1
. If you don't wish to mark the Lexington return as final when the KY return is final, enter 2
.Date business discontinued
If the taxpayer is filing final Lexington-Fayette returns but not a final federal return, enter a date. If the taxpayer is filing a final federal return, or a final Kentucky return, UltraTax CS automatically marks the Lexington-Fayette returns as final. When this box is marked, UltraTax CS doesn't perform estimate calculations, generate any estimates, or print the estimate filing instructions.
General footnote
Use this statement to enter any miscellaneous information that needs to be conveyed with the return. The general footnote appears as a separate item in each collation.
Adjusted Net Business Income
State and local taxes based on income
UltraTax CS transfers the taxes entered in the federal Inc, F-2, 4835-2, and Rent screens to this statement. Use the type codes listed in the following table to classify the amounts as taxes based on income or other types of taxes. Items classified as taxes based on income are included on Form 228 or 228-S.
Type Code | Description | Destination |
|---|---|---|
T | Taxes based on income | Form 228, Page 2, line 9, or Form 228-S, Page 2, line 8 |
O | Other (default) | Does not transfer to return |
Other adjustments and items not subject to license fee
The statement contains all the net credit adjustments to expenses based upon information entered in the federal credit screens. To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. UltraTax CS displays the modified column in black and doesn't overwrite the new data with subsequent federal-to-state data transfers.
Disposal of Property with Section 179 Expense in Prior Year
Gain / loss reported separately from federal Schedule K, line 20c
The IRS requires partnerships to separately report the disposition of assets where section 179 expense was claimed in the prior year. These dispositions are no longer reported on Forms 4797 and 8824, but instead are reported on federal Schedule K, line 20c. This amount is calculated from information entered in the federal 8824PT, SalePT, and K1Sale screens.
UltraTax CS reduces the basis of the asset by the amount on the section 179 deduction when calculating the gain or loss. This amount is included on Form 228, Page 2, line 10 and Form 228S, Page 2, line 9. A nonsubmittable statement prints, detailing this amount. Use the
Force
box to override the calculated amount. If 0
is entered, no adjustment is made.Section 179 included in gain / loss
This box contains the total section 179 expense deduction that was originally claimed on the assets sold during the tax year. This amount is provided for reference purposes only.