Kentucky Statutes 141.350 – Credit of amount withheld against tax imposed by KRS 141.020 for same taxable year
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The amount deducted and withheld as tax under KRS § 141.310 and KRS § 141.315 during any calendar year upon the wages of any individual and the amount of credit described in KRS § 154.22-070(2), 154.24-110, 154.24-150(3) and (4), 154.25-040, 154.26-100(2),
154.27-080, 154.28-110, or 154.32-090 shall be allowed as a credit to the recipient of the income against the tax imposed by KRS § 141.020, for taxable years beginning in the calendar year. If more than one (1) taxable year begins in the calendar year, the amount shall be allowed as a credit against the tax for the last taxable year so beginning.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 75, sec. 4, effective June 29, 2023. — Amended
2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 53, effective June 26, 2009. — Amended
2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 14, effective August 30, 2007. — Amended 2000 Ky. Acts ch. 300, sec. 3, effective July 14, 2000; and ch. 528, sec.
19, effective July 14, 2000. — Amended 1996 Ky. Acts ch. 194, sec. 6, effective July
15, 1996. — Amended 1994 Ky. Acts ch. 450, sec. 35, effective July 15, 1994. – Amended 1992 Ky. Acts ch. 105, sec. 71, effective July 14, 1992; ch. 358, sec. 18, effective July 14, 1992; and ch. 359, sec. 14, effective July 14, 1992. — Amended
1988 Ky. Acts ch. 392, sec. 22, effective April 8, 1988. — Amended 1978 Ky. Acts ch. 384, sec. 27, effective June 17, 1978. — Created 1954 Ky. Acts ch. 79, sec. 30, effective June 17, 1954.
154.27-080, 154.28-110, or 154.32-090 shall be allowed as a credit to the recipient of the income against the tax imposed by KRS § 141.020, for taxable years beginning in the calendar year. If more than one (1) taxable year begins in the calendar year, the amount shall be allowed as a credit against the tax for the last taxable year so beginning.
Terms Used In Kentucky Statutes 141.350
- Individual: means a natural person. See Kentucky Statutes 141.010
- Taxable year: means the calendar year or fiscal year ending during such calendar year, upon the basis of which net income is computed, and in the case of a return made for a fractional part of a year under the provisions of this chapter or under administrative regulations prescribed by the commissioner, "taxable year" means the period for which the return is made. See Kentucky Statutes 141.010
- Wages: means "wages" as defined in Section 3401(a) of the Internal Revenue
Code and includes other income subject to withholding as provided in Section
3401(f) and Section 3402(k), (o), (p), (q), and (s) of the Internal Revenue Code. See Kentucky Statutes 141.900 - Year: means calendar year. See Kentucky Statutes 446.010
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 75, sec. 4, effective June 29, 2023. — Amended
2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 53, effective June 26, 2009. — Amended
2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 14, effective August 30, 2007. — Amended 2000 Ky. Acts ch. 300, sec. 3, effective July 14, 2000; and ch. 528, sec.
19, effective July 14, 2000. — Amended 1996 Ky. Acts ch. 194, sec. 6, effective July
15, 1996. — Amended 1994 Ky. Acts ch. 450, sec. 35, effective July 15, 1994. – Amended 1992 Ky. Acts ch. 105, sec. 71, effective July 14, 1992; ch. 358, sec. 18, effective July 14, 1992; and ch. 359, sec. 14, effective July 14, 1992. — Amended
1988 Ky. Acts ch. 392, sec. 22, effective April 8, 1988. — Amended 1978 Ky. Acts ch. 384, sec. 27, effective June 17, 1978. — Created 1954 Ky. Acts ch. 79, sec. 30, effective June 17, 1954.