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Shareholder Information > Kentucky tab
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Use the state tabs in the
Shareholder Information
window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
window, then the state tab.Fields and buttons — Kentucky information group box
Nonresident filer
Enter the code from the following table or select the code from the dropdown list, to select the nonresident return to be filed by the shareholder. UltraTax CS defaults to the withholding return.
Code | Description |
|---|---|
1 | Withholding (default) This is the default filing for nonresident shareholder when a code is not selected from the drop-down list. Select 1 to indicate the shareholder is subject to withholding on Form 740NP-WH |
2 | Exempt from withholding Select this option to indicate the shareholder is exempt from withholding. UltraTax CS does not complete Form 740NP-WH for this shareholder. A shareholder is exempt from withholding if one of the following factors apply: the shareholder is exempt from Kentucky income tax, the shareholder is a nonresident individual and the pass-through entity is a qualified investment pass-through entity, or the shareholder is a pass-through entity. |
3 | Composite filer Select this option to indicate that the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form 740NP-WH and calculates the net tax due for all nonresident shareholders. |
Income subject to withholding (Force)
UltraTax CS calculates each nonresident shareholder's amount of Kentucky distributive income. Enter an amount to force the shareholder's share of income subject to withholding to a different amount. UltraTax CS transfers the amount entered here to Form PTE-WH for each nonresident shareholder subject to Kentucky's withholding requirements.
Single member individually owned LLC disregarded for federal tax
Mark this checkbox if the shareholder is a Single Member LLC. If this checkbox is marked, UltraTax CS marks the Single Member LLC checkbox for the type of entity on the Kentucky Schedule K-1, Page 1.
ESOP
Mark this checkbox if the shareholder is a ESOP. If this checkbox is marked, UltraTax CS marks the
ESOP
checkbox for the type of entity on the Kentucky Schedule K-1, Page 1.Supplemental information
Use this statement for supplemental information specific to each shareholder and only for items that are not pro-rata. If you have pro-rata items that need to be reported to each shareholder, use the
KYKSep
screen. UltraTax CS prints the information you enter in this statement on the K-1 statements box, line 45.