98RS HB669


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HB 669/FN (BR 600) - R. Palumbo

     AN ACT relating to revenue and taxation.
     Create a new section of KRS Chapter 136 to provide definitions for the corporation license tax; amend KRS 136.071 to extend the license tax computation currently limited to domiciled holding companies to any corporation meeting the holding company criteria regardless of its domicile; clarify the two methods of computing the tax liability of qualifying corporations; amend KRS 136.090 to clarify that each corporation subject to the license tax must file a separate return unless the corporation was a member of a group filing a corporate return under KRS 136.071; amend KRS 136.100 to provide that the requirement to file and the filing deadline of a license tax return are the same as the requirement to file and the filing date of an income tax return; provide that the amendments contained in this Act shall apply for taxable years beginning after December 31, 1997.


     HCA (1, M. Long) - Provide that this Act applies to taxable years beginning after December 31, 1999, instead of December 31, 1997.

     Feb 20-introduced in House
     Feb 23-to Appropriations and Revenue (H)
     Mar 2-posted in committee
     Mar 17-reported favorably, 1st reading, to Calendar with committee amendment (1)
     Mar 18-2nd reading, to Rules
     Mar 23-recommitted to Appropriations and Revenue (H)

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