Last Action | signed by Governor (Acts Ch. 18) |
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Title | AN ACT relating to corporation income tax and limited liability entity tax. |
Bill Documents |
Bill
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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 |
01/10/08 |
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01/15/08 |
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01/31/08 |
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02/05/08 |
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02/06/08 |
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02/07/08 |
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02/29/08 |
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03/04/08 |
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03/05/08 |
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03/07/08 |
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03/11/08 |
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03/12/08 |
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03/26/08 |
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03/27/08 |
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04/01/08 |
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04/09/08 |
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Amendment | House Floor Amendment 1 |
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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 |
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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 |
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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)