"Application for Automatic Extension of Time to File City of Covington Net Profit License Return Form Ol-3" - City of Covington, Kentucky

Application for Automatic Extension of Time to File City of Covington Net Profit License Return Form Ol-3 is a legal document that was released by the Kentucky Department of Revenue - a government authority operating within Kentucky. The form may be used strictly within City of Covington.

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Download "Application for Automatic Extension of Time to File City of Covington Net Profit License Return Form Ol-3" - City of Covington, Kentucky

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APPLICATION FOR AUTOMATIC EXTENSION OF TIME TO FILE
Tax Year Ended
CITY OF COVINGTON NET PROFIT LICENSE RETURN
Month
Day
Year
FORM OL-3
PART I: IDENTIFICATION
1) FEIN or SS#:
2) Occupational License Account #:
3) Business Name:
Address:
City, State, and ZIP Code:
PART II: OCCUPATIONAL LICENSE TAX
($100 MINIMUM DUE)
4) Estimate of total tax liability for current taxable year
5) Total credits
6) Balance of estimated tax due (Subtract line 5 from line 4)
Purpose of Form
Use this form to apply for a six month extension of time to file the City of Covington Occupational License
Return Form OL-3. This form does not extend the time to pay the occupational license fees.
If your business
does not pay the amount due by the regular due date, you will owe interest at a rate of 1% per month or
fraction thereof and penalty at a rate of 5% per month or fraction thereof, not to exceed 25%, with a minimum
of $25.
When to File Form
This form is due on or before the April 15th following the taxable year. For fiscal year taxpayers, this form
is due on or before the 15th day of the 4th month following the close of the taxable year. Your business
will not be granted an extension of time to file the City of Covington Occupational License Return Form OL-3
if the request and the estimated tax due is not postmarked or received by the 15th day of the 4th month
following the close of the taxable year.
Filing Your Occupational License Return
Your business may file the City of Covington Occupational License Return Form OL-3 any time before the
extension expires. For calendar year taxpayers, Form OL-3 is due on or before October 15th following
the close of the taxable year, if an extension is granted. For fiscal year taxpayers, Form OL-3 is due on or
before the 15th day of the 10th month following the close of the taxable year, if an extension is granted.
Interest
Your business will owe interest on any tax not paid by the regular due date of your Form OL-3. The
interest runs from the regular due date until the tax is paid.
Late Payment Penalty
The late payment penalty is assessed at a rate of 5% per month or fraction thereof, not to exceed 25%,
with a minimum $25 on the tax not paid by the regular due date. The late payment penalty is not assessed
on payments received by the extension period granted if the estimated payment received by the regular
due date is 90% of the actual tax liability.
Late Filing Penalty
A penalty of 5% per month or fraction thereof, not to exceed 25%, with a minimum of $25 is assessed on
any returns filed after the due date granted with the extension application.
Remit To:
638 Madison Avenue
Covington, KY 41011
APPLICATION FOR AUTOMATIC EXTENSION OF TIME TO FILE
Tax Year Ended
CITY OF COVINGTON NET PROFIT LICENSE RETURN
Month
Day
Year
FORM OL-3
PART I: IDENTIFICATION
1) FEIN or SS#:
2) Occupational License Account #:
3) Business Name:
Address:
City, State, and ZIP Code:
PART II: OCCUPATIONAL LICENSE TAX
($100 MINIMUM DUE)
4) Estimate of total tax liability for current taxable year
5) Total credits
6) Balance of estimated tax due (Subtract line 5 from line 4)
Purpose of Form
Use this form to apply for a six month extension of time to file the City of Covington Occupational License
Return Form OL-3. This form does not extend the time to pay the occupational license fees.
If your business
does not pay the amount due by the regular due date, you will owe interest at a rate of 1% per month or
fraction thereof and penalty at a rate of 5% per month or fraction thereof, not to exceed 25%, with a minimum
of $25.
When to File Form
This form is due on or before the April 15th following the taxable year. For fiscal year taxpayers, this form
is due on or before the 15th day of the 4th month following the close of the taxable year. Your business
will not be granted an extension of time to file the City of Covington Occupational License Return Form OL-3
if the request and the estimated tax due is not postmarked or received by the 15th day of the 4th month
following the close of the taxable year.
Filing Your Occupational License Return
Your business may file the City of Covington Occupational License Return Form OL-3 any time before the
extension expires. For calendar year taxpayers, Form OL-3 is due on or before October 15th following
the close of the taxable year, if an extension is granted. For fiscal year taxpayers, Form OL-3 is due on or
before the 15th day of the 10th month following the close of the taxable year, if an extension is granted.
Interest
Your business will owe interest on any tax not paid by the regular due date of your Form OL-3. The
interest runs from the regular due date until the tax is paid.
Late Payment Penalty
The late payment penalty is assessed at a rate of 5% per month or fraction thereof, not to exceed 25%,
with a minimum $25 on the tax not paid by the regular due date. The late payment penalty is not assessed
on payments received by the extension period granted if the estimated payment received by the regular
due date is 90% of the actual tax liability.
Late Filing Penalty
A penalty of 5% per month or fraction thereof, not to exceed 25%, with a minimum of $25 is assessed on
any returns filed after the due date granted with the extension application.
Remit To:
638 Madison Avenue
Covington, KY 41011