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House Bill 399

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Last Action to Appropriations & Revenue (H)
Title AN ACT relating to taxation.
Bill Documents Bill
Bill Request Number 832
Sponsors T. Thompson, J. Miller
Summary of Original Version Create new sections of KRS Chapter 141 and amend various sections of KRS Chapters 131, 141, and 154 to amend the calculation of the estimated tax penalty; clarify that no interest is due on estimated tax payments; allow for annualized income for taxpayers whose income fluctuates during the year; mimic the federal estimated tax penalty calculation as nearly as practicable; apply to taxable years beginning January 1, 2015; amend KRS 131.183 to apply the calculated interest rate to both overpayments and underpayments; apply retroactively to all outstanding refund claims and notices of tax due.
Index Headings of Original Version Taxation - Income tax, estimated tax penalty, amendment to mimic federal calculation
Taxation - Interest calculation for tax overpayments and underpayments, modification of
Taxation - Limited Liability entity tax, mutual tax indebatedness, allow
Taxation, Income--Corporate - Estimated tax penalty, amendment to mimic federal calculation
Taxation, Income--Corporate - Interest calculation for tax overpayments and underpayments, modification of
Taxation, Income--Individual - Estimated tax penalty, amendment to mimic federal calculation
Taxation, Income--Individual - Interest calculation for tax overpayments and underpayments, modification of
Taxation, Inheritance and Estate - Interest calculation for tax overpayments and underpayments, modification of
Taxation, Property - Interest calculation for tax overpayments and underpayments, modification of
Taxation, Property - Refund or offset claims, allow additional time for
Taxation, Sales and Use - Interest calculation for tax overpayments and underpayments, modification of
Taxation, Severance - Interest calculation for tax overpayments and underpayments, modification of
Retroactive Legislation - Amended tax interest rate

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02/10/15
  • introduced in House
02/11/15
  • to Appropriations & Revenue (H)


Last updated: 1/16/2019 3:10 PM (EST)