Last Action | 02/26/18: to Appropriations & Revenue (H) |
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Title | AN ACT relating to the taxation of rental equipment. |
Bill Documents | Introduced |
Fiscal Impact Statements |
Fiscal Note
Local Mandate |
Bill Request Number | 1635 |
Sponsor | M. Prunty |
Summary of Original Version | Amend KRS 132.010 to define equipment rental inventory; amend KRS 132.020 to add equipment rental inventory to the five cents tax rate; create a new section of KRS Chapter 134 to establish provisions for a one and one-half percent tangible personal property tax recovery fee that an equipment rental company may include in a rental agreement on equipment rental inventory; amend KRS 139.470 to exclude the tangible personal property tax recovery fee from the gross receipts calculation for sales and use tax; EFFECTIVE January 1, 2019. |
Index Headings of Original Version |
Effective Dates, Delayed - Equipment rental inventory, property taxation, January 1, 2019 Effective Dates, Delayed - Tangible personal property tax recovery fee, sales and use tax exclusion, January 1, 2019 Taxation - Property tax, equipment rental inventory, creation of Taxation - Sales and use tax, gross receipts, tangible personal property tax recovery fee, exclusion of Taxation, Property - Equipment rental inventory, creation of Taxation, Sales and Use - Gross receipts, tangible personal property tax recovery fee, exclusion of Local Mandate - Gross receipts, tangible personal property tax recovery fee, exclusion of Fiscal Note - Gross receipts, tangible personal property tax recovery fee, exclusion of |
02/22/18 |
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02/26/18 |
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Last updated: 9/1/2020 2:57 PM (EDT)
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