Screen KYLXSTPW - Lexington Schools Tax Projection (1120)

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Overview

Use this screen to enter information you expect to be different for the next tax year. The application uses this data to calculate the Lexington Schools Tax Projection Worksheet. This worksheet is based on current law and next year’s tax law differences (when known).
Enter only the items you expect to be different for the coming year. If you don't expect a difference, leave the box blank to allow the current-year amount to automatically transfer to the next-year column of the Lexington Schools Tax Projection Worksheet. However, boxes that are marked with an asterisk (*) in the KYLXSTPW screen won't automatically transfer the current year amount.

Income Tax and Payments

Lexington schools license tax (Force)
The application automatically calculates the Lexington schools license tax for next year by applying the current year tax rates to the projected taxable income. Use this box to override this calculated amount, if needed.
2025
overpayment credited
2026
(Force)
Enter the amount of current year overpayment that will be credited to next year. If this box is blank, the application defaults to the Credited to next year’s estimated tax amount from the current year return.

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