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The return is for a period of one calendar month and is due on or before the last day of the following month. More detailed information for employers may be obtained from the Tax Administrator,
City Of Lebanon, P.O. Box 840, Lebanon, KY 40033
Who is Required to Use Form 501:
Ordinance 85-4 requires employers with 20 or more employees to file monthly returns, together with withholdings payments. The determination of whether an employer is subject to this requirement made
by counting the total number of different individuals employed in Lebanon (whether full or part time) during the last month of the preceding quarter. Thus, to determine if monthly payments are required
during the first calendar quarter (Jan, Feb, March),the number of employees during December should be used. Once monthly payments are required, they must be continued throughout a full calendar quarter.
Line 1: Enter total compensation paid during the month, regardless of when or where earned.
Line 2: Enter the amount included in line 1 which represents payment for services performed or work done outside Lebanon. The employer must maintain adequate records to substantiate this amount.
Line 5: A penalty of 5% is imposed for each month or fraction thereof after the due date of the return during which the license fee remains unpaid.
Line 6: Interest accrues on unpaid license fees at a rate of 12% per annum from the due date of the return until paid.