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House Bill 512

Actions | Amendments
Last Action recommitted to State Government (H)
Title AN ACT relating to the taxation of disregarded entities.
Bill Documents Bill
Impact Statements Fiscal Note
Bill Request Number 121
Sponsor G. Watkins
Summary of Original Version Amend KRS 139.495 to exempt from sales and use tax, purchases by any resident, single member limited liability company that is wholly owned by a resident, nonprofit educational, charitable, or religious institution which has qualified for exemption from federal income taxation under Section 501(c)(3) of the Internal Revenue Code and that is disregarded as an entity separate from that institution; EFFECTIVE August 1, 2016.
Index Headings of Original Version Fiscal Note - Sales and use tax, disregarded entity, exemption
Effective Dates, Delayed - Disregarded entity, sales and use tax exemption, August 1, 2016
Taxation - Sales and use tax, disregarded entity, exemption
Taxation, Sales and Use - Disregarded entity, exemption
Charitable Organizations and Institutions - Sales and use tax exemption, disregarded entity
Proposed Amendments House Committee Substitute 1

Actions

Top | Amendments
02/26/16
  • introduced in House
02/29/16
  • to Appropriations & Revenue (H)
03/18/16
  • posted in committee
03/22/16
  • reported favorably, 1st reading, to Calendar with Committee Substitute (1)
03/23/16
  • 2nd reading, to Rules
03/29/16
  • recommitted to State Government (H)

Proposed Amendments

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Amendment House Committee Substitute 1
Impact Statements Fiscal Note
Summary Amend KRS 139.495 to exempt from sales and use tax purchases made by a resident, single member limited liability company that is wholly owned and controlled by a resident or nonresident, nonprofit educational, charitable, or religious institution that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code and disregarded as an entity separate from that nonprofit institution; Effective August 1, 2016.
Index Headings Fiscal Note - Sales and use tax, disregarded entity, exemption
Effective Dates, Delayed - Disregarded entity, sales and use tax exemption, August 1, 2016
Taxation - Sales and use tax, disregarded entity, exemption
Taxation, Sales and Use - Disregarded entity, exemption
Charitable Organizations and Institutions - Sales and use tax exemption, disregarded entity

Last updated: 1/16/2019 3:08 PM (EST)