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138.695 Credits for payment of gasoline tax -- Records.
(1)
(2)
(3)
(4)
Every licensee subject to the tax imposed by subsections (1) and (2) of KRS
138.660 shall be entitled to a credit for each quarterly period beginning on and
after July 1, 1980, equivalent to the tax rate levied in KRS 138.220(1) and (2)
on gasoline and special fuels purchased by such licensee during such period
for use in its operations, provided such gasoline and special fuels were
purchased in Kentucky during the same period and the tax imposed by KRS
138.220(1) and (2), 138.565, and 234.320 has been paid. Evidence of the
payment of such tax in such form as may be required by or satisfactory to the
cabinet shall be furnished by each such licensee claiming the credit herein
allowed.
The cabinet shall at the close of each quarterly period, ending September 30,
December 31, March 31, and June 30, compute all credits granted by the
cabinet during such quarter, which credits shall be except as provided in
subsection (3) of this section, applied only to taxes due on the report filed for
the next quarter.
If the credit or credits referred to in subsections (1) and (2) of this section
would expire solely by reason of the lapse of time allowed in subsection (2) of
this section, then the balance of any credit shall be refunded to the licensee,
provided application therefor and all necessary information shall be filed with
the cabinet within sixty (60) days after the time the credit would otherwise
expire as provided in subsection (2) of this section, except a credit shall not be
refunded to the licensee, where, as estimated by the cabinet, the cost to the
cabinet of making the refund would exceed the amount of the refund.
In order to facilitate administration of the credits and refunds allowed herein,
the cabinet shall prescribe what records must be kept by the licensee or any
other person and the cabinet shall also prescribe the form and content of said
records and any reports to be made relative thereto.
Effective:July 1, 1986
History: Amended 1986 Ky. Acts ch. 174, sec. 6, effective July 1, 1986. -Amended 1982 Ky. Acts ch. 265, sec. 8, effective April 1, 1982. -- Amended
1980 Ky. Acts ch. 218, sec. 6, effective July 1, 1980. -- Amended 1978 Ky. Acts
ch. 229, sec. 1, effective June 17, 1978. -- Amended 1974 Ky. Acts ch. 74, Art.
IV, sec. 20(2). -- Amended 1972 Ky. Acts ch. 61, sec. 9. -- Amended 1960 Ky.
Acts ch. 186, Art. IV, sec. 6. -- Amended 1958 Ky. Acts ch. 70, sec. 19. -Amended 1956 (2d Extra. Sess.) Ky. Acts ch. 9, sec. 23. -- Created 1954 Ky.
Acts ch. 97, sec. 10.
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