KREDA definition
Examples of KREDA in a sentence
The Letters of Credit will be used to replace existing letters of credit supporting ▇▇▇▇▇▇▇▇ County, Kentucky and "KREDA" industrial revenue bonds, or general corporate purposes.
Next, the general partnership completes Schedule KREDA-SP to determine the KREDA tax credit and the tax due, if any, by the general partnership after applica- tion of the credit.
However, for purposes of determining the KREDA income tax credit, general partnerships are subject to tax on net income from the project, and the credit is applied against the entity's tax liability.
Line 1—If the general partnership's only operation is the KREDA project, the amount entered on line 1 is the net of both separately stated and nonseparately stated income and deduction items from Form 765-GP.
Expansion of Existing Facility—In accordance with KRS 141.347(7), if the KREDA project is an expansion to an ex- isting facility, the net income of the entire facility shall be Computing Net Income by Separate Accounting—To compute net income from the facility by separate accounting, gross income directly attributable to the facility shall be reduced by expenses directly attributable to the facility and overhead expenses apportioned to the facility.
In accordance with KRS 141.347(4)(b), Name of General Partnership elects for the taxable year ended , in lieu of the KREDA tax credit, to have an amount equal to the lesser of line 4(g) or line 5 above applied as an estimated tax payment.
If the general partner- ship has operations other than the KREDA project, sched- ules must be attached reflecting the computation of the net income from the KREDA project in accordance with the fol- lowing instructions, and such amount entered on line 1.