Kentucky Statutes 67A.350 – Exemption of retirement allowances — Taxability after December 31, 1997
Current as of: 2024 | Check for updates
|
Other versions
All retirement allowances and other benefits accrued or accruing to any person under the provisions of KRS § 67A.220 to KRS § 67A.340 and accumulated contributions and cash securities in the fund created under KRS § 67A.220 to KRS § 67A.340 are hereby exempted from any state tax, and shall not be subject to execution, attachment, garnishment, or any other process whatsoever, nor shall any assignment thereof be enforceable in any court. Except retirement benefits accrued or accruing to any person under the provisions of KRS
67A.220 to 67A.340 on or after January 1, 1998, shall be subject to the tax imposed by
KRS § 141.020, to the extent provided in KRS § 141.010 and KRS § 141.0215.
Effective: April 28, 1995
History: Amended 1995 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 5, effective April 28,
1995. — Created 1974 Ky. Acts ch. 246, sec. 15, effective June 21, 1974.
67A.220 to 67A.340 on or after January 1, 1998, shall be subject to the tax imposed by
Terms Used In Kentucky Statutes 67A.350
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
KRS § 141.020, to the extent provided in KRS § 141.010 and KRS § 141.0215.
Effective: April 28, 1995
History: Amended 1995 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 5, effective April 28,
1995. — Created 1974 Ky. Acts ch. 246, sec. 15, effective June 21, 1974.