Kentucky Statutes 42.4501 – Definitions for KRS 42.450 to 42.495
Current as of: 2024 | Check for updates
|
Other versions
As used in KRS § 42.450 to KRS § 42.495:
(1) “Refund” means a payment of money from the State Treasury to a taxpayer, upon the authorization of the Department of Revenue following the submission of a timely request filed in accordance with applicable statutes and administrative regulations, representing all or part of an overpayment previously made by the taxpayer for a tax liability arising under KRS § 143.020 or 143A.020; and
(2) “Severance and processing taxes on coal collected annually” means the total amount of money collected from the tax imposed by KRS § 143.020 in a given fiscal year, reduced by the total amount of refunds of that tax paid during the prior fiscal year.
Effective: July 1, 2016
History: Created 2016 Ky. Acts ch. 110, sec. 1, effective July 1, 2016.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (1) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (2) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (4) at 1641.
(1) “Refund” means a payment of money from the State Treasury to a taxpayer, upon the authorization of the Department of Revenue following the submission of a timely request filed in accordance with applicable statutes and administrative regulations, representing all or part of an overpayment previously made by the taxpayer for a tax liability arising under KRS § 143.020 or 143A.020; and
Terms Used In Kentucky Statutes 42.4501
- branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(2) “Severance and processing taxes on coal collected annually” means the total amount of money collected from the tax imposed by KRS § 143.020 in a given fiscal year, reduced by the total amount of refunds of that tax paid during the prior fiscal year.
Effective: July 1, 2016
History: Created 2016 Ky. Acts ch. 110, sec. 1, effective July 1, 2016.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (1) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (2) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (4) at 1641.