Kentucky Statutes 154.12-325 – Definitions for KRS 154.12-325 and 154.12-330
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As used in KRS § 154.12-325 and KRS § 154.12-330:
(1) “Affiliate” has the same meaning as provided in KRS § 154.22-010(2);
(2) “Full-time employee” means a person employed for a minimum of thirty-five (35)
hours per week and subject to the tax imposed by KRS § 141.020;
(3) “Service or technology” has the same meaning as provided in KRS § 154.24-010(19) and shall include regional or headquarters operations of an entity engaged in the defined activities, but shall not include work involving direct service to the public pursuant to a license issued by the state or an association that issues licenses in lieu of the state; and
(4) “Small business” means any business entity organized for profit, including a sole proprietorship, partnership, limited partnership, corporation, limited liability company, joint venture, association, or cooperative, that has fifty (50) or fewer full- time employees at the time it applies for a loan under KRS § 154.12-330 and is not an affiliate or subsidiary of a larger corporate structure, unless the total number of employees of all the affiliates and subsidiaries within that structure is fifty (50) or fewer.
Effective: July 12, 2006
History: Amended 2006 Ky. Acts ch. 149, sec. 212, effective July 12, 2006. — Created
2005 Ky. Acts ch. 158, sec. 1, effective June 20, 2005.
(1) “Affiliate” has the same meaning as provided in KRS § 154.22-010(2);
Terms Used In Kentucky Statutes 154.12-325
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
- Person: means an individual, partnership, joint venture, military facility operated by a department or agency of the United States, profit or nonprofit corporation including a public or private college or university, limited liability company, or other entity or association of persons organized for agricultural, commercial, health care, or industrial purposes. See Kentucky Statutes 154.1-010
- State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
(2) “Full-time employee” means a person employed for a minimum of thirty-five (35)
hours per week and subject to the tax imposed by KRS § 141.020;
(3) “Service or technology” has the same meaning as provided in KRS § 154.24-010(19) and shall include regional or headquarters operations of an entity engaged in the defined activities, but shall not include work involving direct service to the public pursuant to a license issued by the state or an association that issues licenses in lieu of the state; and
(4) “Small business” means any business entity organized for profit, including a sole proprietorship, partnership, limited partnership, corporation, limited liability company, joint venture, association, or cooperative, that has fifty (50) or fewer full- time employees at the time it applies for a loan under KRS § 154.12-330 and is not an affiliate or subsidiary of a larger corporate structure, unless the total number of employees of all the affiliates and subsidiaries within that structure is fifty (50) or fewer.
Effective: July 12, 2006
History: Amended 2006 Ky. Acts ch. 149, sec. 212, effective July 12, 2006. — Created
2005 Ky. Acts ch. 158, sec. 1, effective June 20, 2005.