KY HB529 | 2014 | Regular Session
Status
Spectrum: Bipartisan Bill
Status: Introduced on March 4 2014 - 25% progression, died in committee
Action: 2014-03-05 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Status: Introduced on March 4 2014 - 25% progression, died in committee
Action: 2014-03-05 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Summary
Create a new section of KRS Chapter 141 to allow a distilled spirits income tax credit equal to the amount of distilled spirits ad valorem tax timely paid and used for capital improvements at the premises of the distiller; provide for recapture of the tax credit if the capital improvement is sold or otherwise disposed of prior to the useful life of the asset being exhausted; apply to taxable years beginning on and after January 1, 2015; amend KRS 141.0205 to order the credit.
Title
AN ACT relating to the taxation of the distilled spirits industry.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2014-03-05 | House | to Appropriations & Revenue (H) |
| 2014-03-04 | House | introduced in House |
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | http://www.lrc.ky.gov/record/14RS/HB529.htm |
| Text | http://www.lrc.ky.gov/record/14RS/HB529/bill.doc |
