02RS HB794


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HB 794/FN (BR 2551) - P. Bather

     AN ACT relating to revenue and taxation and declaring an emergency.
     Amend KRS 132.020 to exclude new property from state compensating rate calculations; create a new section of KRS Chapter 136 and amend KRS 136.070 to subject LLC's and LLP's to corporate franchise tax, if they are taxed as corporations under federal law; amend KRS 136.070, 141.040, and various KRS sections to change corporate nexus standard from "physical presence" to "doing business" in Kentucky; amend KRS 138.210, 138.220, and various KRS sections to increase motor fuels tax 3 cents per gallon; amend KRS 141. 020 to increase top income tax rate; and amend various KRS sections to conform.

     Feb 27-introduced in House
     Feb 28-to Appropriations and Revenue (H)

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