2016 Kentucky Revised Statutes CHAPTER 141 - INCOME TAXES .050 Federal interpretations applicable, when -- Taxpayer record -- Subpoenas -- Forms -- Regulations.
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141.050 Federal interpretations applicable, when -- Taxpayer record -- Subpoenas
-- Forms -- Regulations.
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Except to the extent required by differences between this chapter and its application
and the federal income tax law and its application, the administrative and judicial
interpretations of the federal income tax law, computations of gross income and
deductions therefrom, accounting methods, and accounting procedures, for purposes
of this chapter shall be as nearly as practicable identical with those required for
federal income tax purposes. Changes to federal income tax law made after the
Internal Revenue Code reference date contained in KRS 141.010(3) shall not apply
for purposes of this chapter unless adopted by the General Assembly.
Every person subject to the provisions of this chapter shall keep records, render
under oath statements, make returns, and comply with the rules and administrative
regulations as the department from time to time may promulgate. Whenever the
department judges it necessary, it may require a person, by notice served upon him
or her, to make a return, render under oath statements, or keep records, as the
department deems sufficient to show whether or not the person is liable for tax, and
the extent of the liability.
The commissioner or his or her authorized agent or representative, for the purpose
of ascertaining the correctness of any return or for the purposes of making an
estimate of the taxable income of any taxpayers, may require the attendance of the
taxpayer or of any other person having knowledge in the premises.
The department shall promulgate rules and regulations necessary to effectively carry
out the provisions of this chapter.
Effective: July 15, 2016
History: Amended 2016 Ky. Acts ch. 82, sec. 33, effective July 15, 2016. -- Amended
2005 Ky. Acts ch. 85, sec. 476, effective June 20, 2005. -- Amended 2002 Ky. Acts
ch. 234, sec. 2, effective July 15, 2002; and ch.316, sec. 4, effective July 15, 2002. -Amended 1966 Ky. Acts ch. 176, Part I, sec. 5. -- Amended 1954 Ky. Acts ch. 79,
sec. 6. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from
Ky. Stat. sec. 4281b-23.
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