Download as PDF
141.010 Definitions for chapter.
As used in this chapter, unless the context requires otherwise:
(1) "Commissioner" means the commissioner of the Department of Revenue;
(2) "Department" means the Department of Revenue;
(3) "Internal Revenue Code" means the Internal Revenue Code in effect on
December 31, 2013, exclusive of any amendments made subsequent to that
date, other than amendments that extend provisions in effect on December 31,
2013, that would otherwise terminate, and as modified by KRS 141.0101;
(4) "Dependent" means those persons defined as dependents in the Internal
Revenue Code;
(5) "Fiduciary" means "fiduciary" as defined in Section 7701(a)(6) of the Internal
Revenue Code;
(6) "Fiscal year" means "fiscal year" as defined in Section 7701(a)(24) of the
Internal Revenue Code;
(7) "Individual" means a natural person;
(8) "Modified gross income" means the greater of:
(a) Adjusted gross income as defined in Section 62 of the Internal Revenue
Code of 1986, including any subsequent amendments in effect on
December 31 of the taxable year, and adjusted as follows:
1.
Include interest income derived from obligations of sister states and
political subdivisions thereof; and
2.
Include lump-sum pension distributions taxed under the special
transition rules of Pub. L. No. 104-188, sec. 1401(c)(2); or
(b) Adjusted gross income as defined in subsection (10) of this section and
adjusted to include lump-sum pension distributions taxed under the
special transition rules of Pub. L. No. 104-188, sec. 1401(c)(2);
(9) "Gross income," in the case of taxpayers other than corporations, means
"gross income" as defined in Section 61 of the Internal Revenue Code;
(10) "Adjusted gross income," in the case of taxpayers other than corporations,
means gross income as defined in subsection (9) of this section minus the
deductions allowed individuals by Section 62 of the Internal Revenue Code and
as modified by KRS 141.0101 and adjusted as follows, except that deductions
shall be limited to amounts allocable to income subject to taxation under the
provisions of this chapter, and except that nothing in this chapter shall be
construed to permit the same item to be deducted more than once:
(a) Exclude income that is exempt from state taxation by the Kentucky
Constitution and the Constitution and statutory laws of the United States
and Kentucky;
(b) Exclude income from supplemental annuities provided by the Railroad
Retirement Act of 1937 as amended and which are subject to federal
income tax by Public Law 89-699;
(c) Include interest income derived from obligations of sister states and
political subdivisions thereof;
(d) Exclude employee pension contributions picked up as provided for in
(e)
(f)
(g)
(h)
(i)
KRS 6.505, 16.545, 21.360, 61.560, 65.155, 67A.320, 67A.510, 78.610,
and 161.540 upon a ruling by the Internal Revenue Service or the federal
courts that these contributions shall not be included as gross income until
such time as the contributions are distributed or made available to the
employee;
Exclude Social Security and railroad retirement benefits subject to federal
income tax;
Include, for taxable years ending before January 1, 1991, all
overpayments of federal income tax refunded or credited for taxable
years;
Deduct, for taxable years ending before January 1, 1991, federal income
tax paid for taxable years ending before January 1, 1990;
Exclude any money received because of a settlement or judgment in a
lawsuit brought against a manufacturer or distributor of "Agent Orange"
for damages resulting from exposure to Agent Orange by a member or
veteran of the Armed Forces of the United States or any dependent of
such person who served in Vietnam;
1.
For taxable years ending prior to December 31, 2005, exclude the
applicable amount of total distributions from pension plans, annuity
contracts, profit-sharing plans, retirement plans, or employee
savings plans.
The "applicable amount" shall be:
a.
Twenty-five percent (25%), but not more than six thousand two
hundred fifty dollars ($6,250), for taxable years beginning after
December 31, 1994, and before January 1, 1996;
b.
Fifty percent (50%), but not more than twelve thousand five
hundred dollars ($12,500), for taxable years beginning after
December 31, 1995, and before January 1, 1997;
c.
Seventy-five percent (75%), but not more than eighteen
thousand seven hundred fifty dollars ($18,750), for taxable
years beginning after December 31, 1996, and before January
1, 1998; and
d.
One hundred percent (100%), but not more than thirty-five
thousand dollars ($35,000), for taxable years beginning after
December 31, 1997.
2.
For taxable years beginning after December 31, 2005, exclude up to
forty-one thousand one hundred ten dollars ($41,110) of total
distributions from pension plans, annuity contracts, profit-sharing
plans, retirement plans, or employee savings plans.
3.
As used in this paragraph:
a.
"Distributions" includes but is not limited to any lump-sum
distribution from pension or profit-sharing plans qualifying for
the income tax averaging provisions of Section 402 of the
Internal Revenue Code; any distribution from an individual
retirement account as defined in Section 408 of the Internal
Revenue Code; and any disability pension distribution;
b.
"Annuity contract" has the same meaning as set forth in
Section 1035 of the Internal Revenue Code; and
c.
"Pension plans, profit-sharing plans, retirement plans, or
employee savings plans" means any trust or other entity
created or organized under a written retirement plan and
forming part of a stock bonus, pension, or profit-sharing plan of
a public or private employer for the exclusive benefit of
employees or their beneficiaries and includes plans qualified or
unqualified under Section 401 of the Internal Revenue Code
and individual retirement accounts as defined in Section 408 of
the Internal Revenue Code;
(j) 1.
a.
Exclude the portion of the distributive share of a shareholder's
net income from an S corporation subject to the franchise tax
imposed under KRS 136.505 or the capital stock tax imposed
under KRS 136.300; and
b.
Exclude the portion of the distributive share of a shareholder's
net income from an S corporation related to a qualified
subchapter S subsidiary subject to the franchise tax imposed
under KRS 136.505 or the capital stock tax imposed under
KRS 136.300.
2.
The shareholder's basis of stock held in a S corporation where the S
corporation or its qualified subchapter S subsidiary is subject to the
franchise tax imposed under KRS 136.505 or the capital stock tax
imposed under KRS 136.300 shall be the same as the basis for
federal income tax purposes;
(k) Exclude, to the extent not already excluded from gross income, any
amounts paid for health insurance, or the value of any voucher or similar
instrument used to provide health insurance, which constitutes medical
care coverage for the taxpayer, the taxpayer's spouse, and dependents,
or for any person authorized to be provided excludable coverage by the
taxpayer pursuant to the federal Patient Protection and Affordable Care
Act of 2010, Pub. L. No. 111-148, or the Health Care and Education
Reconciliation Act of 2010 Pub. L. No. 111-152, during the taxable year.
Any amounts paid by the taxpayer for health insurance that are excluded
pursuant to this paragraph shall not be allowed as a deduction in
computing the taxpayer's net income under subsection (11) of this
section;
(l) Exclude income received for services performed as a precinct worker for
election training or for working at election booths in state, county, and
local primary, regular, or special elections;
(m) Exclude any amount paid during the taxable year for insurance for
long-term care as defined in KRS 304.14-600;
(n) Exclude any capital gains income attributable to property taken by
eminent domain;
(o) Exclude any amount received by a producer of tobacco or a tobacco
quota owner from the multistate settlement with the tobacco industry,
known as the Master Settlement Agreement, signed on November 22,
1998;
(p) Exclude any amount received from the secondary settlement fund,
referred to as "Phase II," established by tobacco companies to
compensate tobacco farmers and quota owners for anticipated financial
losses caused by the national tobacco settlement;
(q) Exclude any amount received from funds of the Commodity Credit
Corporation for the Tobacco Loss Assistance Program as a result of a
reduction in the quantity of tobacco quota allotted;
(r) Exclude any amount received as a result of a tobacco quota buydown
program that all quota owners and growers are eligible to participate in;
(s) Exclude state Phase II payments received by a producer of tobacco or a
tobacco quota owner;
(t) Exclude all income from all sources for active duty and reserve members
and officers of the Armed Forces of the United States or National Guard
who are killed in the line of duty, for the year during which the death
occurred and the year prior to the year during which the death occurred.
For the purposes of this paragraph, "all income from all sources" shall
include all federal and state death benefits payable to the estate or any
beneficiaries; and
(u) For taxable years beginning on or after January 1, 2010, exclude all
military pay received by active duty members of the Armed Forces of the
United States, members of reserve components of the Armed Forces of
the United States, and members of the National Guard, including
compensation for state active duty as described in KRS 38.205;
(11) "Net income," in the case of taxpayers other than corporations, means
adjusted gross income as defined in subsection (10) of this section, minus:
(a) The deduction allowed by KRS 141.0202;
(b) Any amount paid for vouchers or similar instruments that provide health
insurance coverage to employees or their families;
(c) For taxable years beginning on or after January 1, 2010, the amount of
domestic production activities deduction calculated at six percent (6%) as
allowed in Section 199(a)(2) of the Internal Revenue Code for taxable
years beginning before 2010; and
(d) 1.
All the deductions allowed individuals by Chapter 1 of the Internal
Revenue Code as modified by KRS 141.0101 except:
a.
Any deduction allowed by the Internal Revenue Code for state
or foreign taxes measured by gross or net income, including
state and local general sales taxes allowed in lieu of state and
local income taxes under the provisions of Section 164(b)(5) of
the Internal Revenue Code;
b.
Any deduction allowed by the Internal Revenue Code for
amounts allowable under KRS 140.090(1)(h) in calculating the
value of the distributive shares of the estate of a decedent,
unless there is filed with the income return a statement that
such deduction has not been claimed under KRS
140.090(1)(h);
c.
The deduction for personal exemptions allowed under Section
151 of the Internal Revenue Code and any other deductions in
lieu thereof;
d.
For taxable years beginning on or after January 1, 2010, the
domestic production activities deduction allowed under Section
199 of the Internal Revenue Code;
e.
Any deduction for amounts paid to any club, organization, or
establishment which has been determined by the courts or an
agency established by the General Assembly and charged with
enforcing the civil rights laws of the Commonwealth, not to
afford full and equal membership and full and equal enjoyment
of its goods, services, facilities, privileges, advantages, or
accommodations to any person because of race, color,
religion, national origin, or sex, except nothing shall be
construed to deny a deduction for amounts paid to any
religious or denominational club, group, or establishment or
any organization operated solely for charitable or educational
purposes which restricts membership to persons of the same
religion or denomination in order to promote the religious
principles for which it is established and maintained;
f.
Any deduction directly or indirectly allocable to income which is
either exempt from taxation or otherwise not taxed under this
chapter;
g.
The itemized deduction limitation established in 26 U.S.C. sec.
68 shall be determined using the applicable amount from 26
U.S.C. sec. 68 as it existed on December 31, 2006; and
h.
A taxpayer may elect to claim the standard deduction allowed
by KRS 141.081 instead of itemized deductions allowed
pursuant to 26 U.S.C. sec. 63 and as modified by this section;
and
2.
Nothing in this chapter shall be construed to permit the same item to
be deducted more than once;
(12) "Gross income," in the case of corporations, means "gross income" as defined
in Section 61 of the Internal Revenue Code and as modified by KRS 141.0101
and adjusted as follows:
(a) Exclude income that is exempt from state taxation by the Kentucky
Constitution and the Constitution and statutory laws of the United States;
(b) Exclude all dividend income received after December 31, 1969;
(c) Include interest income derived from obligations of sister states and
political subdivisions thereof;
(d) Exclude fifty percent (50%) of gross income derived from any disposal of
coal covered by Section 631(c) of the Internal Revenue Code if the
corporation does not claim any deduction for percentage depletion, or for
expenditures attributable to the making and administering of the contract
under which such disposition occurs or to the preservation of the
economic interests retained under such contract;
(e)
Include in the gross income of lessors income tax payments made by
lessees to lessors, under the provisions of Section 110 of the Internal
Revenue Code, and exclude such payments from the gross income of
lessees;
(f) Include the amount calculated under KRS 141.205;
(g) Ignore the provisions of Section 281 of the Internal Revenue Code in
computing gross income;
(h) Exclude income from "safe harbor leases" (Section 168(f)(8) of the
Internal Revenue Code);
(i) Exclude any amount received by a producer of tobacco or a tobacco
quota owner from the multistate settlement with the tobacco industry,
known as the Master Settlement Agreement, signed on November 22,
1998;
(j) Exclude any amount received from the secondary settlement fund,
referred to as "Phase II," established by tobacco companies to
compensate tobacco farmers and quota owners for anticipated financial
losses caused by the national tobacco settlement;
(k) Exclude any amount received from funds of the Commodity Credit
Corporation for the Tobacco Loss Assistance Program as a result of a
reduction in the quantity of tobacco quota allotted;
(l) Exclude any amount received as a result of a tobacco quota buydown
program that all quota owners and growers are eligible to participate in;
(m) For taxable years beginning after December 31, 2004, and before
January 1, 2007, exclude the distributive share income or loss received
from a corporation defined in subsection (24)(b) of this section whose
income has been subject to the tax imposed by KRS 141.040. The
exclusion provided in this paragraph shall also apply to a taxable year that
begins prior to January 1, 2005, if the tax imposed by KRS 141.040 is
paid on the distributive share income by a corporation defined in
subparagraphs 2. to 8. of subsection (24)(b) of this section with a return
filed for a period of less than twelve (12) months that begins on or after
January 1, 2005, and ends on or before December 31, 2005. This
paragraph shall not be used to delay payment of the tax imposed by KRS
141.040; and
(n) Exclude state Phase II payments received by a producer of tobacco or a
tobacco quota owner;
(13) "Net income," in the case of corporations, means "gross income" as defined in
subsection (12) of this section minus:
(a) The deduction allowed by KRS 141.0202;
(b) Any amount paid for vouchers or similar instruments that provide health
insurance coverage to employees or their families;
(c) For taxable years beginning on or after January 1, 2010, the amount of
domestic production activities deduction calculated at six percent (6%) as
allowed in Section 199(a)(2) of the Internal Revenue Code for taxable
years beginning before 2010; and
(d)
(14) (a)
(b)
All the deductions from gross income allowed corporations by Chapter 1
of the Internal Revenue Code and as modified by KRS 141.0101, except:
1.
Any deduction for a state tax which is computed, in whole or in part,
by reference to gross or net income and which is paid or accrued to
any state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico, any territory or possession of the
United States, or to any foreign country or political subdivision
thereof;
2.
The deductions contained in Sections 243, 244, 245, and 247 of the
Internal Revenue Code;
3.
The provisions of Section 281 of the Internal Revenue Code shall be
ignored in computing net income;
4.
Any deduction directly or indirectly allocable to income which is
either exempt from taxation or otherwise not taxed under the
provisions of this chapter, and nothing in this chapter shall be
construed to permit the same item to be deducted more than once;
5.
Exclude expenses related to "safe harbor leases" (Section 168(f)(8)
of the Internal Revenue Code);
6.
Any deduction for amounts paid to any club, organization, or
establishment which has been determined by the courts or an
agency established by the General Assembly and charged with
enforcing the civil rights laws of the Commonwealth, not to afford full
and equal membership and full and equal enjoyment of its goods,
services, facilities, privileges, advantages, or accommodations to
any person because of race, color, religion, national origin, or sex,
except nothing shall be construed to deny a deduction for amounts
paid to any religious or denominational club, group, or establishment
or any organization operated solely for charitable or educational
purposes which restricts membership to persons of the same
religion or denomination in order to promote the religious principles
for which it is established and maintained;
7.
Any deduction prohibited by KRS 141.205;
8.
Any dividends-paid deduction of any captive real estate investment
trust; and
9.
For taxable years beginning on or after January 1, 2010, the
domestic production activities deduction allowed under Section 199
of the Internal Revenue Code;
"Taxable net income," in the case of corporations that are taxable in this
state, means "net income" as defined in subsection (13) of this section;
"Taxable net income," in the case of corporations that are taxable in this
state and taxable in another state, means "net income" as defined in
subsection (13) of this section and as allocated and apportioned under
KRS 141.120. A corporation is taxable in another state if, in any state
other than Kentucky, the corporation is required to file a return for or pay
a net income tax, franchise tax measured by net income, franchise tax for
the privilege of doing business, or corporate stock tax;
(c)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
"Taxable net income," in the case of homeowners' associations as
defined in Section 528(c) of the Internal Revenue Code, means "taxable
income" as defined in Section 528(d) of the Internal Revenue Code.
Notwithstanding the provisions of subsection (3) of this section, the
Internal Revenue Code sections referred to in this paragraph shall be
those code sections in effect for the applicable tax year; and
(d) "Taxable net income," in the case of a corporation that meets the
requirements established under Section 856 of the Internal Revenue
Code to be a real estate investment trust, means "real estate investment
trust taxable income" as defined in Section 857(b)(2) of the Internal
Revenue Code, except that a captive real estate investment trust shall not
be allowed any deduction for dividends paid;
"Person" means "person" as defined in Section 7701(a)(1) of the Internal
Revenue Code;
"Taxable year" means the calendar year or fiscal year ending during such
calendar year, upon the basis of which net income is computed, and in the
case of a return made for a fractional part of a year under the provisions of this
chapter or under regulations prescribed by the commissioner, "taxable year"
means the period for which the return is made;
"Resident" means an individual domiciled within this state or an individual who
is not domiciled in this state, but maintains a place of abode in this state and
spends in the aggregate more than one hundred eighty-three (183) days of the
taxable year in this state;
"Nonresident" means any individual not a resident of this state;
"Employer" means "employer" as defined in Section 3401(d) of the Internal
Revenue Code;
"Employee" means "employee" as defined in Section 3401(c) of the Internal
Revenue Code;
"Number of withholding exemptions claimed" means the number of withholding
exemptions claimed in a withholding exemption certificate in effect under KRS
141.325, except that if no such certificate is in effect, the number of withholding
exemptions claimed shall be considered to be zero;
"Wages" means "wages" as defined in Section 3401(a) of the Internal Revenue
Code and includes other income subject to withholding as provided in Section
3401(f) and Section 3402(k), (o), (p), (q), and (s) of the Internal Revenue Code;
"Payroll period" means "payroll period" as defined in Section 3401(b) of the
Internal Revenue Code;
(a) For taxable years beginning before January 1, 2005, and after December
31, 2006, "corporation" means "corporation" as defined in Section
7701(a)(3) of the Internal Revenue Code; and
(b) For taxable years beginning after December 31, 2004, and before
January 1, 2007, "corporations" means:
1.
"Corporations" as defined in Section 7701(a)(3) of the Internal
Revenue Code;
2.
S corporations as defined in Section 1361(a) of the Internal
Revenue Code;
3.
A foreign limited liability company as defined in KRS 275.015;
4.
A limited liability company as defined in KRS 275.015;
5.
A professional limited liability company as defined in KRS 275.015;
6.
A foreign limited partnership as defined in KRS 362.2-102(9);
7.
A limited partnership as defined in KRS 362.2-102(14);
8.
A limited liability partnership as defined in KRS 362.155(7) or in
362.1-101(7) or (8);
9.
A real estate investment trust as defined in Section 856 of the
Internal Revenue Code;
10. A regulated investment company as defined in Section 851 of the
Internal Revenue Code;
11. A real estate mortgage investment conduit as defined in Section
860D of the Internal Revenue Code;
12. A financial asset securitization investment trust as defined in
Section 860L of the Internal Revenue Code; and
13. Other similar entities created with limited liability for their partners,
members, or shareholders.
For purposes of this paragraph, "corporation" shall not include any
publicly traded partnership as defined by Section 7704(b) of the Internal
Revenue Code that is treated as a partnership for federal tax purposes
under Section 7704(c) of the Internal Revenue Code or its publicly traded
partnership affiliates. As used in this paragraph, "publicly traded
partnership affiliates" shall include any limited liability company or limited
partnership for which at least eighty percent (80%) of the limited liability
company member interests or limited partner interests are owned directly
or indirectly by the publicly traded partnership;
(25) "Doing business in this state" includes but is not limited to:
(a) Being organized under the laws of this state;
(b) Having a commercial domicile in this state;
(c) Owning or leasing property in this state;
(d) Having one (1) or more individuals performing services in this state;
(e) Maintaining an interest in a pass-through entity doing business in this
state;
(f) Deriving income from or attributable to sources within this state, including
deriving income directly or indirectly from a trust doing business in this
state, or deriving income directly or indirectly from a single-member
limited liability company that is doing business in this state and is
disregarded as an entity separate from its single member for federal
income tax purposes; or
(g) Directing activities at Kentucky customers for the purpose of selling them
goods or services.
Nothing in this subsection shall be interpreted in a manner that goes beyond
the limitations imposed and protections provided by the United States
(26)
(27)
(28)
(29)
Constitution or Pub. L. No. 86-272;
"Pass-through entity" means any partnership, S corporation, limited liability
company, limited liability partnership, limited partnership, or similar entity
recognized by the laws of this state that is not taxed for federal purposes at the
entity level, but instead passes to each partner, member, shareholder, or
owner their proportionate share of income, deductions, gains, losses, credits,
and any other similar attributes;
"S corporation" means "S corporation" as defined in Section 1361(a) of the
Internal Revenue Code;
"Limited liability pass-through entity" means any pass-through entity that
affords any of its partners, members, shareholders, or owners, through function
of the laws of this state or laws recognized by this state, protection from
general liability for actions of the entity; and
"Captive real estate investment trust" means a real estate investment trust as
defined in Section 856 of the Internal Revenue Code that meets the following
requirements:
(a) 1.
The shares or other ownership interests of the real estate
investment trust are not regularly traded on an established securities
market; or
2.
The real estate investment trust does not have enough shareholders
or owners to be required to register with the Securities and
Exchange Commission; and
(b) 1.
The maximum amount of stock or other ownership interest that is
owned or constructively owned by a corporation equals or exceeds:
a.
Twenty-five percent (25%), if the corporation does not occupy
property owned, constructively owned, or controlled by the real
estate investment trust; or
b.
Ten percent (10%), if the corporation occupies property
owned, constructively owned, or controlled by the real estate
investment trust.
The total ownership interest of a corporation shall be determined by
aggregating all interests owned or constructively owned by a
corporation;
2.
For the purposes of this paragraph:
a.
"Corporation" means a corporation taxable under KRS
141.040, and includes an affiliated group as defined in KRS
141.200, that is required to file a consolidated return pursuant
to the provisions of KRS 141.200; and
b.
"Owned or constructively owned" means owning shares or
having an ownership interest in the real estate investment
trust, or owning an interest in an entity that owns shares or has
an ownership interest in the real estate investment trust.
Constructive ownership shall be determined by looking across
multiple layers of a multilayer pass-through structure; and
(c) The real estate investment trust is not owned by another real estate
investment trust.
Effective:July 15, 2014
History: Amended 2014 Ky. Acts ch. 102, sec. 2, effective July 15, 2014. -Amended 2011 Ky. Acts ch. 54, sec. 1, effective March 16, 2011. -- Amended
2010 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 3, effective June 4, 2010. -Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 42, effective July 15, 2010.
-- Amended 2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 105, effective June 26,
2009. -- Amended 2007 Ky. Acts ch. 52, sec. 2, effective June 26, 2007; and ch.
137, sec. 42, effective June 26, 2007. -- Amended 2006 (1st Extra Sess.) Ky.
Acts ch. 2, sec. 1, effective June 28, 2006. -- Amended 2006 Ky. Acts ch. 149,
sec. 202, effective July 12, 2006; ch. 251, sec. 13, effective July 12, 2006; and
ch. 252, Pt. XXVIII, sec. 16, effective April 25, 2006. -- Amended 2005 Ky. Acts
ch. 85, sec. 471, effective June 20, 2005; ch. 168, sec. 3, effective March 18,
2005; and ch. 173, Part XVIII, sec. 1, effective March 20, 2005. -- Amended
2004 Ky. Acts ch. 135, sec. 1, effective July 13, 2004. -- Amended 2002 Ky.
Acts ch. 206, sec. 1, effective July 15, 2002; and ch. 367, sec. 1, effective July
15, 2002. -- Amended 2001 Ky. Acts ch. 67, sec. 1, effective March 15, 2001. -Amended 2000 Ky. Acts ch. 337, sec. 1, effective July 14, 2000; and ch. 533,
sec. 1, effective April 26, 2000. -- Amended 1998 Ky. Acts ch. 1, sec. 1, effective
February 6, 1998; ch. 365, sec. 1, effective July 15, 1998; ch. 402, sec. 3,
effective April 7, 1998; ch. 496, sec. 63, effective April 10, 1998; ch. 509, sec. 8,
effective July 15, 1998; ch. 550, sec. 1, effective July 15, 1998; and ch. 586,
sec. 8, effective July 15, 1998. -- Amended 1996 Ky. Acts ch. 69, sec. 1,
effective July 15, 1996. -- Amended 1995 (2d Extra. Sess.) Ky. Acts ch. 1, sec.
1, effective April 28, 1995. -- Amended 1994 Ky. Acts ch. 45, sec. 1, effective
July 15, 1994. -- Amended 1992 Ky. Acts ch. 165, sec. 1, effective July 14,
1992. -- Amended 1990 Ky. Acts ch. 163, sec. 8, effective July 13, 1990; ch.
242, sec. 2, effective July 13, 1990; ch. 303, sec. 1, effective July 1, 1990; and
ch. 476, Pt. VII D, sec. 630, effective April 11, 1990. -- Amended 1988 Ky. Acts
ch. 174, sec. 1, effective July 15, 1988. -- Amended 1986 Ky. Acts ch. 459, sec.
3, effective July 15, 1986. -- Amended 1985 (1st Extra. Sess.) Ky. Acts ch. 6, Pt.
V, sec. 14, effective July 29, 1985. -- Amended 1984 Ky. Acts ch. 378, sec. 1,
effective July 1, 1984. -- Amended 1982 Ky. Acts ch. 105, sec. 1, effective
March 24, 1982; and ch. 166, sec. 15, effective July 15, 1982. -- Amended 1980
Ky. Acts ch. 176, sec. 1, effective July 15, 1980. -- Amended 1978 Ky. Acts ch.
233, sec. 10, effective June 17, 1978. -- Amended 1976 Ky. Acts ch. 155, sec.
7. -- Amended 1974 Ky. Acts ch. 163, sec. 2. -- Amended 1972 Ky. Acts ch. 62,
Pt. III, sec. 1. -- Amended 1970 Ky. Acts ch. 216, sec. 3. -- Amended 1968 Ky.
Acts ch. 40, Part II, sec. 1. -- Amended 1966 Ky. Acts ch. 176, Part I, sec. 1. -Amended 1962 Ky. Acts ch. 124, sec. 1. -- Amended 1960 Ky. Acts ch. 5, Art.
III, sec. 1. -- Amended 1956 (4th Extra. Sess.) Ky. Acts ch. 4, sec. 1. -Amended 1954 Ky. Acts ch. 79, sec. 1. -- Amended 1952 Ky. Acts ch. 194,
secs. 1 and 2. -- Amended 1948 Ky. Acts ch. 93, sec. 1. -- Recodified 1942 Ky.
Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4281b-1,
4281b-2, 4281b-5.
Legislative Research Commission Note (7/15/2014). 2014 Ky. Acts ch. 102, sec.
40 provides that the amendments to this statute made in 2014 Ky. Acts ch. 102,
sec. 2, shall apply to tax years beginning on or after January 1, 2014.
Legislative Research Commission Note (3/16/2011). 2011 Ky. Acts ch. 54, sec.
2, provides that the amendments to KRS 141.010 in 2011 Ky. Acts ch. 54, sec.
1, "apply for taxable years beginning on or after January 1, 2011."
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 52, sec.
3, provides that the amendments to KRS 141.010 in 2007 Ky. Acts ch. 52, sec.
2, "shall apply to tax years beginning on or after January 1, 2007."
Legislative Research Commission Note (6/28/2006). 2006 (1st Extra Sess.) Ky.
Acts ch. 2, sec. 73, provides that "unless a provision of this Act specifically
applies to an earlier tax year, the provisions of this Act shall apply to taxable
years beginning on or after January 1, 2007."
Legislative Research Commission Note (6/28/2006). Under the authority of KRS
7.136, a manifest clerical or typographical error has been corrected. In the first
sentence of 2006 (1st Extra. Sess.) Ky. Acts ch 2, sec. 11, the citation to KRS
141.010(24)(b) to (h) has been changed to KRS 141.010(24)(b)2. to 8. to
conform to other amendments citing this statute elsewhere in the Act.
Legislative Research Commission Note (4/25/2006). 2006 Ky. Acts ch. 252, Pt.
XXVIII, sec. 18 provides that "The amendment in Section 16 of this Part is
applicable for tax years beginning after December 31, 2001."
Legislative Research Commission Note (3/20/2005). 2005 Ky. Acts ch. 173, Part
XVIII, sec. 2, provides that changes made to subsection (11)(a) of this section
are effective for taxable years beginning after December 1, 2004.
Legislative Research Commission Note (7/13/2004). The amendments made to
subsections (10)(r) and (12)(l) of this statute in 2004 Ky. Acts ch. 135, sec. 1,
"shall apply for taxable years beginning after December 31, 2003." 2004 Ky.
Acts ch. 135, sec. 4.
Legislative Research Commission Note (7/15/2002). The change of dates in
subsection (3) of this statute from December 31, 1999, to December 31, 2001,
applies to "taxable years beginning after December 31, 2001." 2002 Ky. Acts.
ch. 367, sec. 4.
Legislative Research Commission Note (7/15/2002). The amendments made to
subsections (10)(k), (11), and (13) of this statute in 2002 Ky. Acts ch. 206, sec.
1, "shall apply for taxable years beginning after December 31, 2001." 2002 Ky.
Acts ch. 206, sec. 2.
Legislative Research Commission Note (7/14/2000). The change of dates in
subsection (3) of this statute from December 1, 1997, to December 31, 1999,
applies to "taxable years beginning after December 31, 1999." 2000 Ky. Acts ch.
337, sec. 4.
Legislative Research Commission Note (4/26/2000). The exclusions set forth in
subsection (10)(p) and (q) and subsection (12)(i) to (k) of this statute took effect
April 26, 2000, and "retroactively apply to tax years beginning after December
31, 1998. 2000 Ky. Acts. ch. 533, secs. 4 and 5.
Legislative Research Commission Note (4/28/95). The exclusion set forth in
subsection (10)(i) of this statute applies "to income received after December 31,
1994," pursuant to 1995 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 11.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.