02RS HB825


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HB 825/FN (BR 2353) - H. Moberly

     AN ACT relating to revenue and taxation.
     Create a new section of KRS Chapter 136 and amend KRS 136.070 to provide that a limited liability company or limited liability partnership treated as a corporation under federal income tax shall be treated as a corporation for corporation license tax and that corporations doing business in Kentucky are subject to corporate license tax; amend KRS 139.340 to provide that "retailer" includes any retailer located outside Kentucky that uses a representative in Kentucky if the representative performs any activities that help maintain or establish a marketplace for the retailer, including receiving or exchanging returned merchandise sold by the retailer; amend KRS 141.010 to disallow the deduction for taxes paid to foreign countries and provide that corporations doing business in Kentucky are subject to the corporation income tax; amend KRS 141.206 to provide that nonresident individuals and corporations that are partners in a partnership or shareholders in an S corporation doing business within and without Kentucky are taxable on their proportionate share of the distributive income attributable to business done in Kentucky based on apportionment factor including sales, property, and payroll; create new sections of KRS Chapter 142 to impose a tax on smokeless tobacco, cigars, loose tobacco, and pipe tobacco at the rate of 8% of the gross receipts received by a wholesaler; amend KRS 132.020 to freeze the state real property tax rate at $0.136 per $100 valuation and exempt motor vehicles with an assessed value of $5,000 or less from the state property tax; repeal KRS 134.295, relating to supplementation of the sheriff's commission.


     HCS/FN - Delete provisions relating to the tax on tobacco products and to the motor vehicle tax; adopt federal filing status, federal standard deduction, and 65% of federal personal exemption for individual income taxes; establish flat 6% income tax rate; make conforming amendments.

     HFA (1/P, R. Damron) - Attach the provisions of HB 20.

     HFA (2, T. Feeley) - Amend KRS 142.050 to allow a fiscal court of a county which does not levy an occupational license fee to levy a surtax on the grantor in the deed at a rate not to exceed two dollars ($2) for each five hundred dollars ($500) of value or fraction thereof, which value is declared in the deed upon the privilege of transferring title to real property; direct county clerk to retain four-tenths percent (0.4%) as a fee for collecting and remitting the balance to the county treasurer or school district.

     HFA (3, J. Hoover) - Delete provisions in KRS 132.020 freezing the state real property tax rate at $0.136 per $100 valuation.

     HFA (4, H. Moberly) - Delete the fixed real property tax rate and provide for the setting of the tax rate, exclusive of the assessment of new property.

     HFA (5, H. Moberly) - Delete provision that imposed real property tax freeze; close loophole on sales tax on unbundled transmission and distribution of natural gas; cap reimbursement for collecting and remitting sales tax at $1,000 per month.

     Mar 1-introduced in House
     Mar 4-to Appropriations and Revenue (H)
     Mar 11-posting waived
     Mar 20-reported favorably, 1st reading, to Calendar with Committee Substitute
     Mar 21-2nd reading, to Rules; floor amendments (1) (2) and (3) filed to Committee Substitute
     Mar 25-floor amendment (4) filed to Committee Substitute
     Mar 28-posted for passage in the Regular Orders of the Day for Friday, March 29, 2002
     Apr 1-floor amendment (5) filed to Committee Substitute

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