| 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 |
| 02/09/11 |
|
|---|---|
| 02/10/11 |
|
| 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)