House Bill 120

Actions
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

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12/15/11
  • Prefiled by the sponsor(s).
01/03/12
  • introduced in House
  • to Appropriations & Revenue (H)


Last updated: 1/16/2019 3:37 PM (EST)