Download Kentucky 51A113 Template

When filling out the Kentucky 51A113 form, it is essential to follow specific guidelines to ensure accuracy and compliance. Here are seven things to keep in mind:

• Do read the instructions on the reverse side of the form before starting.
• Do enter your Social Security Number (SSN) or Federal Employer Identification Number (FEIN) accurately.
• Do provide a clear description of your business, if applicable, to avoid confusion.
• Do list all purchases of tangible personal property, digital property, and extended warranty services subject to use tax.
• Don't forget to calculate the total sale price of all items accurately before entering it on Line 1.
• Don't submit the form without ensuring all required fields are filled out completely.
• Don't mail the return without including payment for the total amount due.

When completing the Kentucky 51A113 form, you may find that several other documents are often required or helpful in conjunction with your use tax return. Below is a list of these forms and documents, each accompanied by a brief description.

• Kentucky Sales Tax Exemption Certificate (Form 51A105): This form is used by purchasers to claim an exemption from sales tax on specific purchases. It is typically provided to sellers to document the tax-exempt status of the buyer.
• Kentucky Business License Application: This application is necessary for businesses operating in Kentucky. It ensures compliance with local regulations and allows businesses to operate legally within the state.
• Kentucky Corporation Income Tax Return (Form 720): Corporations must file this return to report their income and pay any applicable taxes. It is essential for businesses structured as corporations to fulfill their tax obligations.
• Durable Power of Attorney Form: This document allows an individual to designate someone else to handle their affairs, ensuring their financial matters are managed as intended. More information can be found at All Florida Forms.
• Kentucky Partnership Return (Form 765): Partnerships use this form to report income, deductions, and credits. Each partner's share of the income is also reported here for tax purposes.
• Kentucky Individual Income Tax Return (Form 740): Individuals use this form to report their income and calculate their tax liability. It is important for individuals who are self-employed or have additional income sources.
• Kentucky Use Tax Exemption Certificate (Form 51A106): This certificate is used to claim an exemption from use tax on certain purchases. It can be provided to sellers when applicable.
• Kentucky Sales Tax Return (Form 51A112): Retailers use this form to report sales tax collected from customers. It is important for businesses that are registered to collect sales tax.
• Kentucky Employer’s Quarterly Wage Report (Form KES-101): Employers must file this report to report wages paid to employees and calculate unemployment insurance contributions.
• Kentucky Taxpayer Registration Form (Form 10A100): This form is used to register for various taxes, including sales and use tax. It is essential for new businesses to ensure compliance with state tax laws.
• Kentucky Withholding Tax Return (Form K-1): Employers use this form to report the amount of state income tax withheld from employees' wages. It is crucial for maintaining proper tax records.

Gathering these documents can help streamline the process of filing your Kentucky 51A113 form. Ensuring that all necessary paperwork is in order will facilitate compliance with state tax regulations and help avoid any potential issues.

What is the purpose of the Kentucky 51A113 form?

The Kentucky 51A113 form is used to report and pay the consumer’s use tax on purchases of tangible personal property, digital property, and extended warranty services that were not subject to Kentucky sales tax at the time of purchase. This form is essential for individuals or businesses that have made such purchases and are not registered as consumers or retailers in Kentucky.

Who needs to file the 51A113 form?

This form must be filed by individuals or firms that are liable for use tax but are not registered consumers or retailers. If you have made purchases of taxable items without paying the sales tax, you are required to complete this form and remit the appropriate tax amount to the Kentucky Department of Revenue.

When is the 51A113 form due?

The consumer’s use tax return is due 20 days after the end of the month in which the purchase was made. For example, if you made a purchase in January, the form must be submitted by February 20. It is important to adhere to this deadline to avoid penalties and interest on late payments.

How do I calculate the use tax owed on the 51A113 form?

To calculate the use tax, you will need to determine the total sale price of all applicable purchases, which you will enter on Line 1 of the form. The use tax rate is 6% of this total. You will then subtract any compensation you may be eligible for (calculated on Line 3) to find the total tax due on Line 4.

What happens if I file the 51A113 form late?

If you file the form after the due date, you will incur a penalty of 2% of the tax owed for each 30 days or fraction thereof that the return is late. The maximum penalty is capped at 20%. Additionally, interest will accrue on any unpaid tax amounts, which can further increase your total liability.

What types of purchases are subject to use tax?

The use tax applies to tangible personal property, digital property, and extended warranty services. Tangible personal property includes items like clothing, furniture, and tools. Digital property encompasses things like digital books, music, and software. Extended warranty services refer to service contracts for repairs or maintenance on these items, provided the agreements were sold after July 1, 2018.

Where do I send the completed 51A113 form?

Once you have completed the form and calculated the total amount due, you should mail it along with your payment to the Kentucky Department of Revenue at the address provided on the form: Frankfort, Kentucky 40619. Ensure that your payment is made out to the Kentucky State Treasurer.