§ 141.010 Definitions for chapter for taxable years beginning on or after January 1, 2018
§ 141.0101 Depreciation methods and transitional rules
§ 141.011 Casualty losses — Net operating losses
§ 141.014 Disposition of receipts under chapter
§ 141.016 Reporting federal adjusted gross income attributed to husband and wife — Allocation of income and business deductions between husband and wife
§ 141.017 Deductions allowed by this chapter limited to amounts directly or indirectly subject to taxation under this chapter — No item to be deducted more than once
§ 141.018 Department’s authority to interpret and carry out provisions of certain income tax changes made by the 2005 Regular Session and 2006 First Extraordinary Session of the General Assembly — Authority to promulgate administrative regulations to explain
§ 141.019 Calculation of adjusted gross income and net income for taxpayers other than corporations
§ 141.020 Levy of income tax on individuals — Rate of normal tax — Reduction — Tax credits — Income of nonresidents subject to tax — Election to pay tax imposed by KRS 141.023
§ 141.0201 Artistic charitable contributions deduction for individuals
§ 141.0205 Priority of application and use of tax credits
§ 141.021 Federal and local government annuities excluded from gross income — Taxability after December 31, 1997
§ 141.0215 Inclusion in gross income of government retirement payments after December 31, 1997 — Computation
§ 141.023 Optional tax tables
§ 141.030 Levy of income tax on estates, trusts and fiduciaries — Liability of fiduciaries
§ 141.039 Calculation of gross income and net income for corporations
§ 141.040 Corporation income tax — Exemptions — Rate
§ 141.0401 Limited liability entity tax — Exemptions — Rate
§ 141.041 Tax credit for corporations for installing, modifying or utilizing coal for manufacturing or heating
§ 141.044 Payment of estimated tax by corporations and pass-through entities — Refund of taxes — Administrative regulations
§ 141.050 Federal interpretations applicable, when — Taxpayer record — Subpoenas — Forms — Regulations
§ 141.062 Premiums paid for health insurance to be treated as income tax credit
§ 141.063 Skills training investment credits allowed by KRS 154.12-204 to 154.12-208 — Application to income tax obligations — Annual report
§ 141.065 Credit allowed for hiring person classified as unemployed
§ 141.066 Definitions — Nonrefundable low income, family size, and income gap tax credits
§ 141.067 Household and dependent care service credit
§ 141.068 Definitions — Determination of tax credits under KRS 154.20-258
§ 141.069 Credit allowed for tuition at eligible educational institution
§ 141.070 Credits allowed individuals for tax paid to other states
§ 141.071 Definition — Right to designate portion of tax to political party
§ 141.072 Designation of party — Certification and remittance to state and county party organizations
§ 141.073 Rules and regulations
§ 141.081 Optional standard deduction for individuals — Exception
§ 141.120 Division of income of interstate business for tax purposes — Apportionment
§ 141.121 Special rules for apportioning business income — Management of a treasury function — Passenger airlines — Qualified air freight forwarders — Administrative regulations regarding sourcing of receipts
§ 141.130 Liability for tax on discontinuation of business
§ 141.140 Accounting period for computation of income
§ 141.150 Reports of income payments to others
§ 141.160 When returns for income tax are due — Forms — Copy of federal return may be required — Returns for cooperatives
§ 141.170 Extension of time for filing returns
§ 141.175 Extension for members of Armed Forces serving in combat zones
§ 141.180 Individuals required to make return — Verification
§ 141.190 Returns of fiduciaries
§ 141.200 Corporation returns — Requirement of affiliated groups to file consolidated returns
§ 141.201 Corporation returns — Election of affiliated groups to file consolidated returns — Taxable years beginning on or after January 1, 2019
§ 141.202 Requirement of taxpayer engaged in a unitary business with one or more other corporations to file a combined report — Administrative regulations — Taxable years beginning on or after January 1, 2019
§ 141.205 Disallowance of certain deductions for affiliated entities or related parties
§ 141.206 Filing of returns by pass-through entities — Withholding requirements on owners of pass-through entities — Apportionment issues for pass-through entities
§ 141.207 Calculation of estimated tax required by KRS 141.206 for nonresident individuals — Payment of estimated tax
§ 141.208 Treatment of limited liability companies
§ 141.209 Annual election to have tax under KRS 141.020 imposed on pass-through entity — Refundable tax credit — Report to owner — Administrative regulations
§ 141.210 Auditing of returns — Assessment of additional tax
§ 141.211 Audits performed and additional tax assessed at the partnership level
§ 141.215 Deferred filing of returns and payment of taxes
§ 141.220 Payment of tax — When due
§ 141.235 Action interfering with collection or payment prohibited — Limitation on refund of taxes
§ 141.305 Estimated income tax payments — Administrative regulations
§ 141.310 Withholding of tax from wages paid by employer
§ 141.315 Department to promulgate regulations governing certain types of wage payments
§ 141.320 Remuneration paid by an employer deemed wages
§ 141.325 Withholding exemptions — Certificates
§ 141.330 Employers to file quarterly returns and make payments — Liability — Actions — Lien on property of employer
§ 141.335 Annual withholding statement to be furnished employee
§ 141.340 Liability of employer for tax payment — Corporate officers, managers of limited liability companies, and partners of registered limited liability partnerships personally liable
§ 141.345 Refund or credit in case of overpayment
§ 141.347 Computation of income tax credit
§ 141.350 Credit of amount withheld against tax imposed by KRS 141.020 for same taxable year
§ 141.355 Crediting of overpayment and refund of balance — Withholding in excess of tax imposed by KRS 141.020, when considered overpayment
§ 141.370 Tables for determining tax to be withheld
§ 141.381 Nonrefundable tax credit for entities participating in the Metropolitan College
§ 141.382 Refundable or transferable tax credit for qualified rehabilitation expenses for certified historic structure meeting the requirements of KRS 171.396 and 171.397
§ 141.383 Refundable tax credit for motion picture or entertainment production expenses — Reporting
§ 141.384 Nonrefundable tax credit for small businesses
§ 141.3841 Selling farmers tax credit
§ 141.385 Nonrefundable tax credit for railroad improvement
§ 141.386 Nonrefundable tax credit for railroad expansion or upgrade to accommodate transportation of fossil energy resources or biomass resources
§ 141.387 No carry forward permitted for tax credits provided by KRS 141.385 and 141.386 — Claims for credits
§ 141.389 Nonrefundable and nontransferable distilled spirits ad valorem tax credit — Election to waive credits — Credit to be used only for capital improvement at licensed distiller’s premises — Refundable credit for taxpayer investing and creating jobs i
§ 141.390 Tax credit for recycling or composting equipment — Report
§ 141.395 Tax credit for construction of research facilities
§ 141.396 Nonrefundable angel investor tax credit against individual income tax — Carry forward — Transfer of credit — Recapture of credit — Data reporting requirements
§ 141.398 Development area tax credit — Annual report
§ 141.400 Tax credit for company approved for economic development project under KRS 154.28-010 to 154.28-100
§ 141.402 Taxing provisions governing approved companies under Subchapter 25 of KRS Chapter 154
§ 141.403 Tax credit for company approved on or before June 30, 2021, under KRS 154.26-010 to 154.26-100 — Administrative regulations
§ 141.405 Tax credit for company approved for occupational or skills upgrade training program under KRS 154.12-2084 to 154.12-2089 — Administrative regulations
§ 141.407 Determination of allowable income tax credit approved company may retain
§ 141.408 Inventory tax credit — Applies on or after January 1, 2018 — Pass-through entities, allowable credit — Annual report
§ 141.410 Definitions for KRS 141.410 to 141.414
§ 141.412 Tax credit for qualified farming operation
§ 141.414 Computation of tax and credit
§ 141.415 Computation of income tax and credit for approved company
§ 141.418 Nonrefundable credit for voluntary environmental remediation
§ 141.419 Definitions for section — Refundable credit for qualifying expenditures at qualifying decontamination property — Administrative regulations — Reporting
§ 141.421 Tax incentives for alternative fuel, gasification, and renewable energy facilities
§ 141.422 Definitions for KRS 141.422 to 141.425
§ 141.423 Nonrefundable credit for biodiesel producer, biodiesel blender, or renewable diesel producer
§ 141.4231 Renewable chemical production tax credit
§ 141.424 Biodiesel credit distribution for pass-through entities
§ 141.4242 Nonrefundable credit for producers of ethanol
§ 141.4244 Nonrefundable credit for producers of cellulosic ethanol
§ 141.4246 Ethanol or cellulosic ethanol credit distribution for pass-through entities
§ 141.4248 Transfer of unused ethanol or cellulosic ethanol tax credit caps established by KRS 141.4242 and 141.4244
§ 141.425 Authorization for administrative regulations to administer biodiesel credit
§ 141.428 Kentucky Clean Coal Incentive Act — Definitions — Tax credit — Administrative regulations
§ 141.432 Definitions for KRS 141.432 to 141.434
§ 141.433 Application for New Markets Development Program tax credit
§ 141.434 New Markets Development Program tax credit
§ 141.435 Definitions for KRS 141.435 to 141.437
§ 141.436 Tax credit for installation of energy efficiency products for residential and commercial property — Administrative regulations — Reports
§ 141.437 Tax credit for construction of ENERGY STAR home or sale of ENERGY STAR manufactured home — Required verification — Reports
§ 141.438 Endow Kentucky tax credit
§ 141.440 Designation of income tax refund to child victims’ trust fund
§ 141.441 Designation of income tax refund to local history trust fund
§ 141.4425 Designation of income tax refund to Kentucky YMCA Youth Association
§ 141.443 Designation of income tax refund to Special Olympics Kentucky
§ 141.444 Designation of income tax refund to veterans’ program trust fund
§ 141.445 Designation of income tax refund to pediatric cancer research trust fund
§ 141.446 Designation of income tax refund to breast cancer research and education trust fund
§ 141.447 Designation of income tax refund to rape crisis center trust fund
§ 141.448 Designation of income tax refund to farms to food banks trust fund
§ 141.449 Designation of income tax refund to Kentucky CASA network fund
§ 141.450 Public policy
§ 141.455 Designation of income tax refund to nongame species protection and natural areas acquisition programs
§ 141.460 Space on form for designation
§ 141.465 Apportionment of funds — Funds to be placed in interest-bearing account
§ 141.470 Use of funds apportioned to the nature preserves fund
§ 141.475 Rules and regulations
§ 141.480 Designation provisions void, when
§ 141.500 Education Opportunity Account Program. (See LRC Note below)
§ 141.502 Definitions for KRS 141.500 to 141.528 (See LRC Note below)
§ 141.504 Uniform process for education opportunity account allocation — Qualifying expenses — Provision for eligible student in county with population of 90,000 or more — Duration of education opportunity account — Prioritization of funding — Restrictio
§ 141.506 Application to establish an education opportunity account for eligible students — Renewal — Process to cease funding student account. (See LRC Note below)
§ 141.508 Application for tax credit — Preliminary approval subject to annual tax credit cap — Taxpayer notification — Taxpayer contribution – Account-granting organization certification of contribution. (See LRC Note below)
§ 141.510 Certification and renewal of certification of an account-granting organization — Application — Required information — Department certification. (See LRC Note below)
§ 141.512 Minimal allocation of contributions required to education opportunity accounts by account-granting organization — Standard application process for establishment of student eligibility for an account — Transfer of funds from one account-granting or
§ 141.514 Administration of education opportunity account tax credit and cap — Required annual publications on department Web site. (See LRC Note below)
§ 141.516 Audit of account-granting organization by department — Notice of violation — Revocation of certificate. (See LRC Note below)
§ 141.518 Account-granting organization system of payment to education service providers — Payments to an education opportunity account — Approval of education service providers. (See LRC Note below)
§ 141.520 Effect of Education Opportunity Account Program on education service provider — Authority of government entities. (See LRC Note below)
§ 141.522 Education Opportunity Account Program tax credit — Cap on credit — Prioritization. (See LRC Note below)
§ 141.524 Report by department on Education Opportunity Account Program. (See LRC Note below)
§ 141.526 Standing for parents of eligible students. (See LRC Note below)
§ 141.528 Short title for KRS 141.500 to 141.528. (See LRC Note below)
§ 141.900 Definitions for KRS Chapter 141 — Taxable years beginning prior to January 1, 2018
§ 141.901 Division of income of interstate business for tax purposes — Apportionment
§ 141.985 Interest on tax not paid by date due — Addition to tax provided in KRS 141.305 and 141.044 to be considered a penalty
§ 141.990 Penalties
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Terms Used In Kentucky Statutes > Chapter 141 - Income Taxes

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • all income from all sources: shall include all federal and state death benefits payable to the estate or any beneficiaries. See Kentucky Statutes 141.900
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Animal: includes every warm-blooded living creature except a human being. See Kentucky Statutes 446.010
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • 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
  • Captive real estate investment trust: means a real estate investment trust as defined in Section 856 of the Internal Revenue Code that meets the following requirements:
    (a) 1. See Kentucky Statutes 141.010
  • Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
    (a) Sending the document or package. See Kentucky Statutes 446.010
  • Commissioner: means the commissioner of the department. See Kentucky Statutes 141.010
  • Committee substitute: Short for committee amendment in the nature of a substitute.
  • Corporation: means a corporation taxable under KRS §. See Kentucky Statutes 141.010
  • corporations: means :
    1. See Kentucky Statutes 141.900
  • Critical infrastructure: means property and equipment owned or used by communications networks, electric generation, transmission or distribution systems, gas distribution systems, or water or wastewater pipelines that service multiple customers or citizens, including but not limited to real and personal property such
    as buildings, offices, lines, poles, pipes, structures, or equipment. See Kentucky Statutes 141.010
  • Decedent: A deceased person.
  • Declared state disaster or emergency: means a disaster or emergency event for which:
    (a) The Governor has declared a state of emergency pursuant to KRS §. See Kentucky Statutes 141.010
  • Department: means the Department of Revenue. See Kentucky Statutes 141.010
  • Dependent: A person dependent for support upon another.
  • Dependent: means those persons defined as dependents in the Internal Revenue
    Code. See Kentucky Statutes 141.010
  • Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
  • Disaster or emergency-related work: means repairing, renovating, installing, building, or rendering services that are essential to the restoration of critical infrastructure that has been damaged, impaired, or destroyed by a declared state disaster or emergency. See Kentucky Statutes 141.010
  • Disaster response business: means any entity:
    (a) That has no presence in the state and conducts no business in the state, except for disaster or emergency-related work during a disaster response period. See Kentucky Statutes 141.010
  • Disaster response employee: means an employee who does not work or reside in the state, except for disaster or emergency-related work during the disaster response period. See Kentucky Statutes 141.010
  • Disaster response period: means a period that begins ten (10) days prior to the first day of the Governor's declaration under KRS §. See Kentucky Statutes 141.010
  • Distributions: includes but is not limited to any lump-sum distribution from pension or profit-sharing plans qualifying for the income tax averaging provisions of Section 402 of the Internal Revenue Code. See Kentucky Statutes 141.900
  • Doing business in this state: includes but is not limited to: (a) Being organized under the laws of this state. See Kentucky Statutes 141.010
  • Donee: The recipient of a gift.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Financial institution: means :
    (a) A national bank organized as a body corporate and existing or in the process of organizing as a national bank association pursuant to the provisions of the National Bank Act, 12 U. See Kentucky Statutes 141.010
  • Fiscal year: means "fiscal year" as defined in Section 7701(a)(24) of the Internal
    Revenue Code. See Kentucky Statutes 141.900
  • 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.
  • Grantor: The person who establishes a trust and places property into it.
  • Individual: means a natural person. See Kentucky Statutes 141.010
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Internal Revenue Code: means for taxable years beginning on or after January 1,
    2023, the Internal Revenue Code in effect on December 31, 2022, exclusive of any amendments made subsequent to that date, other than amendments that extend provisions in effect on December 31, 2022, that would otherwise terminate. See Kentucky Statutes 141.010
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Limited liability pass-through entity: means any pass-through entity that affords any of its partners, members, shareholders, or owners, through function of the laws of this state or laws recognized by this state, protection from general liability for actions of the entity. See Kentucky Statutes 141.010
  • Livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, or any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 446.010
  • Modified gross income: means the greater of:
    (a) Adjusted gross income as defined in 26 U. See Kentucky Statutes 141.010
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Nonresident: means any individual not a resident of this state. See Kentucky Statutes 141.010
  • Number of withholding exemptions claimed: means the number of withholding exemptions claimed in a withholding exemption certificate in effect under KRS
    141. See Kentucky Statutes 141.010
  • Owned or constructively owned: means owning shares or having an ownership interest in the real estate investment trust, or owning an interest in an entity that owns shares or has an ownership interest in the real estate investment trust. See Kentucky Statutes 141.010
  • Partnership: includes both general and limited partnerships. 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.
  • Pass-through entity: means any partnership, S corporation, limited liability company, limited liability partnership, limited partnership, or similar entity recognized by the laws of this state that is not taxed for federal purposes at the entity level, but instead passes to each partner, member, shareholder, or owner their proportionate share of income, deductions, gains, losses, credits, and any other similar attributes. See Kentucky Statutes 141.010
  • Person: means "person" as defined in Section 7701(a)(1) of the Internal Revenue
    Code. See Kentucky Statutes 141.900
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • publicly traded partnership affiliates: shall include any limited liability company or limited partnership for which at least eighty percent (80%) of the limited liability company member interests or limited partner interests are owned directly or indirectly by the publicly traded partnership. See Kentucky Statutes 141.900
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Registered business: means a business entity that owns or otherwise possesses critical infrastructure and that is registered to do business in the state prior to the declared state disaster or emergency. See Kentucky Statutes 141.010
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Resident: means an individual domiciled within this state or an individual who is not domiciled in this state, but maintains a place of abode in this state and spends in the aggregate more than one hundred eighty-three (183) days of the taxable year in this state. See Kentucky Statutes 141.010
  • S corporation: means "S corporation" as defined in Section 1361(a) of the Internal
    Revenue Code. See Kentucky Statutes 141.900
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Subpoena: A command to a witness to appear and give testimony.
  • 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
  • Treatment: when used in a criminal justice context, means targeted interventions
    that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
  • 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