| Last Action | to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to taxation. |
| Bill Documents |
Bill
|
| Bill Request Number | 236 |
| Sponsors | B. Farmer, J. Hoover |
| Summary of Original Version | Amend KRS 138.4602 to make the trade-in allowance permanent for motor vehicles purchased on or after October 1, 2012; amend various sections of KRS Chapter 139 to expand the sales and use tax base to include selected services and lower the tax rate; amend various sections of KRS Chapter 141 to apply the corporation income tax only to taxable years beginning before January 1, 2013; expand the base and lower the tax rate for individual income tax; tax all pass-through entity income at a flat rate of 2.5%; modify the tax rates for the limited liability entity tax; amend KRS 243.884 to decrease the rate for the wholesale alcohol tax to 5.5% from the current rate of 11%; and repeal various sections in KRS Chapter 139 to conform. |
| Index Headings of Original Version |
Taxation - Tax reform Taxation, Income--Corporate - Tax reform, applicable to taxable years beginning before January 1, 2013 Taxation, Income--Individual - Tax reform, modification to lower rates and expand the tax base Taxation, Sales and Use - Tax reform, expansion of the base to include selected services |
| 12/15/11 |
|
|---|---|
| 01/03/12 |
|
Last updated: 8/27/2019 8:05 PM (EDT)