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141.410 Definitions for KRS 141.410 to 141.414.
As used in KRS 141.410 to 141.414, unless the context requires otherwise:
(1) "Approved costs" means the costs incurred during the taxable year by a qualified
farming operation for training and improving the skills of managers and employees
involved in a networking project.
(2) "Business network" means a formalized, collaborative mechanism organized by and
operating among three (3) or more qualified farming operations, industrial entities,
business enterprises, or private sector firms for the purposes of, but not limited to:
pooling expertise; improving responses to changing technology or markets;
lowering the risks to individual entities of accelerated modernization; encouraging
new technology investments, new market development, and employee skills
improvement; and developing a system of collective intelligence among
participating entities.
(3) "Food producing facilities" means establishments that manufacture or process foods
and beverages for human consumption, and which are included under the three (3)
digit NAICS code three hundred eleven (311).
(4) "Networking project" means a project by which farmers and other entities involved
in the production of food join together to form a network approved by the Cabinet
for Economic Development for the purpose of producing or expanding the
production of crops or livestock necessary for the establishment or expansion of
secondary food-producing facilities in Kentucky.
(5) "Qualified farming operation" means an individual, sole proprietorship, partnership,
joint venture, trust, unincorporated organization, association, corporation, or
institution, engaged in farming in Kentucky that provides raw materials for foodproducing facilities in Kentucky, and that purchases new buildings or equipment, or
that incurs training expenses, to support its participation in a networking project.
(6) "NAICS code" means the classification system grouping business operations or
enterprises as published in the North American Industry Classification System
United States Manual published by Convergence Working Group and the United
States Office of Management and Budget, 2002 edition.
(7) "Kentucky gross receipts" means Kentucky gross receipts as defined in KRS
141.0401.
(8) "Kentucky gross profits" means Kentucky gross profits as defined in KRS
141.0401.
Effective: June 28, 2006
History: Amended 2006 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 28, effective June 28,
2006. -- Amended 2006 Ky. Acts ch 252, Pt. XIII, sec. 11, effective April 25, 2006. Amended 2005 Ky. Acts ch. 168, sec. 29, effective March 18, 2005. -- Created 1994
Ky. Acts ch. 390, sec. 16, effective July 15, 1994.
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 (3/18/2005). 2005 Ky. Acts ch. 168, sec. 165,
provides that this section shall apply to tax years beginning on or after January 1,
2005.
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