LLC fees in Kentucky
$40
Are LLC Fees Tax Deductible in Kentucky?
Short answer: Yes, as a business expense: Kentucky charges $40 to form an LLC; ongoing: $15 annual report. Limited Liability Entity Tax (LLET): $175 minimum; LLCs with gross receipts or gross profits of $3M or less pay $175. Annual report due Jan 1-June 30. LLET return due 15th day of 4th month after year end.
Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Records to keep: Keep the state filing receipt, proof of payment, and your LLC's formation and annual report confirmations.
LLC fees in Kentucky
$40
General Business
Yes, as a business expense: Kentucky charges $40 to form an LLC; ongoing: $15 annual report. Limited Liability Entity Tax (LLET): $175 minimum; LLCs with gross receipts or gross profits of $3M or less pay $175. Annual report due Jan 1-June 30. LLET return due 15th day of 4th month after year end.
Business justification
Yes, as a business expense: Kentucky charges $40 to form an LLC; ongoing: $15 annual report. Limited Liability Entity Tax (LLET): $175 minimum; LLCs with gross receipts or gross profits of $3M or less pay $175. Annual report due Jan 1-June 30. LLET return due 15th day of 4th month after year end. Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Category
- Tax Write-Off Rules