AN ACT relating to revenue and taxation.
     Amend KRS 141.010 and 141.040 to change corporate nexus standard to doing business in Kentucky and to tax S corporations as corporations; amend KRS 139.340 to tighten sales tax nexus standard; amend KRS 141.208 to tax limited liability companies and limited liability partnerships as corporations; amend KRS 141.011 to repeal net operating loss carryback allowance; amend KRS 141.120 to expand definition of taxable business income to include profits from irregular transactions and to institute a "throwback rule" for sales of tangible personal property shipped from Kentucky; amend KRS 141.200 to institute mandatory combined reporting; create new sections of KRS Chapter 141 to enact a 0.85% business activity tax (BAT), based on sum of all compensation, interest, and dividends paid; provide apportionment formula for BAT; allow credit for BAT against corporate income tax; Repeal corporate license tax provisions of KRS 136.070, 136.0704, 136.071, 136.078, 136.090, 136.100 and 141.416; amend KRS 136.530, 136.990, 141.0405, 141.068, 141.206, 141.347, 141.400, 141.401, 141.403, 141.405, 141.407, 141.414, 141.415, 144.135, 154.20-258, 154.26-090, 154.34-080, 154.34-090, 155.170, 272.333, and 275.205 to conform.

     Jan 15-introduced in House
     Jan 16-to Appropriations and Revenue (H)