722: Election to File Consolidated Kentucky Corporation Income and Limited Liability Entity Tax Return (2025)
Kentucky · Kentucky DOR · Used for tax years 2025
Kentucky Form 722 is used by an affiliated group filing Form 720 to elect to file a consolidated corporation income and limited liability entity tax (LLET) return. It identifies the group and common parent corporation, records the election period, and requires an authorized offic
Who files this form
Form 722 is for Form 720 filers choosing to file a consolidated Kentucky corporation income and limited liability entity tax (LLET) return.
The common parent corporation makes the election on behalf of all members of the affiliated group. The group may make this election whether or not it files a federal consolidated return.
What you'll need
Have the group's Form 720 return and the following information ready:
- Affiliated group name, including the common parent corporation and subsidiaries.
- Address and telephone number.
- Federal identification number.
- Common parent's Corporation/LLET account number.
- Beginning and ending month and year of the election period.
- Authorized officer's signature, signing date, printed name and title.
For later returns during the binding election period, you need a copy of the Form 722 completed for the first year.
How to file
- Complete Form 722 on behalf of all members of the affiliated group.
- Have an authorized officer of the common parent corporation sign it. Eligible officers are the president, vice president, secretary, treasurer, assistant secretary, assistant treasurer or chief accounting officer.
- Attach the completed form to the return filed on or before the due date or extended due date for the first taxable year of the election.
- Attach a copy of that first-year Form 722 to each return filed during the binding 48-month election period.
- Complete and submit a new Form 722 for each new 48-month election period.
The form does not provide a mailing address or e-filing instructions.
Common mistakes
- Attaching the form to a late return. The form warns that attaching it to an untimely filed return does not create a valid election.
- Entering only a one-year period. Enter the first taxable year of the election and the taxable year when it expires, not just one year.
- Leaving the form off later returns. A copy of the first-year Form 722 must be attached to each return during the binding 48-month election period.
- Using a six-digit account number without leading zeros. The common parent's Corporation/LLET account number must be nine digits. If it has six digits, add leading zeros.
Questions people ask
Must the group file a federal consolidated return to make this election?
No. The election may be made whether or not a federal consolidated return is filed.
How long is the election binding?
It is binding and irrevocable from the first month of the first taxable year of the election through the end of the taxable year in which the 48th consecutive month expires.
Which corporations must be included?
For each year the election is effective, the consolidated return must include all members of the affiliated group as defined by Internal Revenue Code Section 1504(a) and related regulations, except corporations exempt from Kentucky corporate income tax under KRS 141.040.
Who is responsible for the consolidated income tax liability?
Each member is jointly and severally liable for the income tax liability computed on the consolidated return. The affiliated group is treated as a single corporation for all purposes.