HB 276 (BR 1119) - T. Mills, D. Floyd, J. Adams, R. Crimm, R. Damron, J. DeCesare, B. DeWeese, J. Donohue, D. Graham, J. Greer, D. Horlander, J. Jenkins, K. King, A. Koenig, B. Montell, D. Osborne, R. Palumbo, C. Rollins II, T. Thompson, S. Westrom
AN ACT relating to the taxation of the distilled spirits industry.
Create a new section of KRS Chapter 141 to allow a distilled spirits credit equal to the amount of distilled spirits ad valorem tax timely paid in the taxable year and used for capital improvements at the premise of the distiller; provide for recapture of the tax credit if the capital improvement is sold or otherwise disposed of prior to the useful life of the asset being exhausted; apply to taxable years beginning after December 31, 2013; amend KRS 141.0205 to order the credit.
Feb 7-introduced in House
Feb 11-to Appropriations & Revenue (H)