HB 480/FN (BR 1651) - C. Belcher, S. Brinkman, C. Embry Jr, B. Farmer, D. Floyd, D. Osborne, R. Palumbo, T. Thompson, S. Westrom
AN ACT relating to income tax.
Amend KRS 141.011 to clarify net operating loss carryforwards; amend KRS 141.040 to adjust the payment of the minimum tax and to allow a limited carryforward of the alternative minimum tax; amend KRS 141.0401 to allow a limited carryforward of unused limited liability entity tax and to define the limited liability tax as a prepaid income tax; amend KRS 141.200 to phase out the limitation on loss affiliates of consolidated groups; amend 141.0205 to conform.
Feb 14-introduced in House
Feb 20-to Appropriations & Revenue (H)