Kentucky LLC

[Snaggletooth]

LLC Sole Proprietors electing Sch C must file a Kentucky LLC return, with a minimum $175 LLC fee.

On the Federal return, there will be self-employment tax. Is the amount of SE tax a deduction on the
Kentucky LLC return? Reason I'm asking: it is allowed for Tennessee's LLC return.

[Bonnie]

No, Kentucky charges every LLC a minimum of 175 a year just for being an LLC. Cannot take any deductions to reduce this amount. Just standard amount Kentucky gets

[Snaggletooth]

Remainder of Tax

Thanks Bonnie for tuning in.

In addition to the LLET $175 minimum tax, there is yet another tax placed on the entity with revenue and expenses, and an amount of tax assessed against the profit. Is this correct?

My question had more to do with the entity deductions than the minimum fee.

Does this change anything?