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House Bill 258

Actions | Amendments

Last Action	signed by Governor (Acts Ch. 18)
Title	AN ACT relating to corporation income tax and limited liability entity tax.
Bill Documents	Bill
Impact Statements	Fiscal Note
Bill Request Number	1051
Sponsor	H. Moberly Jr.
Summary of Original Version	Create a new section of KRS Chapter 141 to provide that the net gain from treasury function transactions be included in the sales factor of the corporation apportionment formula; make conforming amendments to other sections of KRS Chapter 141; apply to taxable periods beginning after December 31, 2007.
Index Headings of Original Version	Corporations - Taxation, apportionment, sales factor Taxation - Corporation apportionment, sales factor Taxation, Income--Corporate - Apportionment, sales factor Fiscal Note - Taxation, apportionment, sales factor
Proposed Amendments	House Floor Amendment 1 House Floor Amendment 2 House Floor Amendment 3
Votes	Vote History

Actions

Top | Amendments

01/10/08	introduced in House
01/15/08	to Appropriations & Revenue (H)
01/31/08	posted in committee
02/05/08	reported favorably, 1st reading, to Calendar
02/06/08	2nd reading, to Rules posted for passage in the Regular Orders of the Day for Thursday, February 7, 2008 floor amendment (1) filed
02/07/08	floor amendment (2) filed
02/29/08	floor amendment (3) filed
03/04/08	3rd reading floor amendment (1) defeated passed 97-0 with floor amendment (3)
03/05/08	received in Senate
03/07/08	to Appropriations & Revenue (S)
03/11/08	reported favorably, 1st reading, to Consent Calendar
03/12/08	2nd reading, to Rules
03/26/08	posted for passage in the Consent Orders of the Day for Wednesday, March 26, 2008 3rd reading, passed 36-0
03/27/08	received in House enrolled, signed by Speaker of the House
04/01/08	enrolled, signed by President of the Senate delivered to Governor
04/09/08	signed by Governor (Acts Ch. 18)

Proposed Amendments

Top | Actions

Amendment	House Floor Amendment 1
Sponsor	J. DeCesare
Summary	Retain original provisions; amend KRS 141.0401 to apply the limited liability entity tax to years beginning before January 1, 2008.
Index Headings	Corporations - Taxation, apportionment, sales factor Taxation - Corporation apportionment, sales factor Taxation, Income--Corporate - Apportionment, sales factor Fiscal Note - Taxation, apportionment, sales factor

Amendment	House Floor Amendment 2
Sponsor	S. Brinkman
Summary	Increase the level of excludable income from the limited liability entity tax and the level of the phase-in of taxable income; decrease the minimum tax.
Index Headings	Corporations - Taxation, apportionment, sales factor Taxation - Corporation apportionment, sales factor Taxation, Income--Corporate - Apportionment, sales factor Fiscal Note - Taxation, apportionment, sales factor

Amendment	House Floor Amendment 3
Sponsor	H. Moberly Jr.
Summary	Amend the apportionment formula for passenger airlines to calculate the property, payroll, and sales factors based on revenue passenger miles.
Index Headings	Corporations - Taxation, apportionment, sales factor Taxation - Corporation apportionment, sales factor Taxation, Income--Corporate - Apportionment, sales factor Fiscal Note - Taxation, apportionment, sales factor

Last updated: 8/28/2019 8:09 AM (EDT)