House Bill 418

Actions | Amendments
Last Action floor amendment (1) filed
Title AN ACT relating to the taxation of the distilled spirits industry.
Bill Documents Bill
Bill Request Number 1122
Sponsors L. Belcher, C. Rollins II, J. Adams, R. Crimm, J. DeCesare, B. DeWeese, B. Farmer, D. Floyd, D. Graham, D. Horlander, J. Jenkins, R. Meeks, T. Mills, B. Montell, D. Osborne, D. Owens, R. Palumbo, S. Santoro, S. Westrom
Summary of Original Version Create a new section of KRS Chapter 141 to allow a distilled spirits credit equal to the amount of distilled spirits ad valorem tax timely paid in the taxable year and used for capital improvements at the premise of the distiller; provide for recapture of the tax credit if the capital improvement is sold or otherwise disposed of prior to the useful life of the asset being exhausted; amend KRS 141.0205 to order the credit; apply to taxable years beginning after December 31, 2012.
Index Headings of Original Version Taxation - Income tax, distilled spirits credit
Taxation, Income--Corporate - Distilled spirits credit
Taxation, Income--Individual - Distilled spirits credit
Administrative Regulations and Proceedings - Revenue, distilled spirits tax credit
Proposed Amendments House Floor Amendment 1

Actions

Top | Amendments
02/09/11
  • introduced in House
02/10/11
  • to Appropriations & Revenue (H)
  • floor amendment (1) filed

Proposed Amendments

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Amendment House Floor Amendment 1
Sponsor L. Belcher
Summary Include the purchase of barrels and pallets as a capital improvement.
Index Headings Taxation - Income tax, distilled spirits credit
Taxation, Income--Corporate - Distilled spirits credit
Taxation, Income--Individual - Distilled spirits credit
Administrative Regulations and Proceedings - Revenue, distilled spirits tax credit

Last updated: 1/16/2019 3:43 PM (EST)