Last Action | 01/02/18: to Appropriations & Revenue (H) |
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Title | AN ACT relating to the natural resources severance and processing tax. |
Bill Documents | Introduced |
Fiscal Impact Statements |
Fiscal Note
Local Mandate |
Bill Request Number | 102 |
Sponsors | S. Miles, J. Nemes |
Summary of Original Version | Amend KRS 143A.010 to amend the definition of "processing" to include the act of loading or unloading limestone that has not otherwise been severed or treated in the Commonwealth; amend KRS 143A.035 to allow a credit for substantially identical severance or processing taxes paid to another state or political subdivision thereof; provide that no taxpayer may claim a total amount of credit that exceeds his or her tax liability; allow the Department of Revenue to report tax credit information to the Legislative Research Commission; amend other sections to conform; EFFECTIVE August 1, 2018. |
Index Headings of Original Version |
Effective Dates, Delayed - Natural resources severance tax, August 1, 2018 Minerals and Mining - Natural resources severance tax, definition of "processing" Taxation - Natural resources severance tax, definition of "processing" Taxation, Severance - Natural resources severance tax, credit for taxes paid to another state Taxation, Severance - Natural resources severance tax, definition of "processing" Fiscal Note - Natural resources severance tax, credit for taxes paid to another state Local Mandate - Natural resources severance tax, credit for taxes paid to another state |
06/29/17 |
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01/02/18 |
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Last updated: 9/1/2020 2:57 PM (EDT)
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