| Last Action | to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to the taxation of the distilled spirits industry. |
| Bill Documents |
Bill
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| Bill Request Number | 1317 |
| Sponsors | L. Belcher, D. Floyd, D. Graham, J. Adams, D. Butler, R. Crimm, B. Damron, J. DeCesare, B. Farmer, K. Flood, D. Horlander, J. Jenkins, K. King, A. Koenig, M. Marzian, C. Miller, T. Mills, B. Montell, M. Nemes, D. Osborne, R. Palumbo, J. Richards, C. Rollins II, S. Santoro, T. Thompson, B. Waide, S. Westrom, A. Wuchner |
| 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; apply to taxable years beginning after December 31, 2012; amend KRS 141.0205 to order the credit. |
| Index Headings of Original Version |
Taxation, Income--Individual - Distilled spirits credit, establish Taxation - Income tax, distilled spirits credit, establish Taxation, Income--Corporate - Distilled spirits credit, establish |
| 01/24/12 |
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|---|---|
| 01/25/12 |
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Last updated: 8/27/2019 8:05 PM (EDT)