07RS HB480

HB480

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Includes opposite chamber sponsors where requested by primary sponsors of substantially similar bills in both chambers and jointly approved by the Committee on Committees of both chambers. Opposite chamber sponsors are represented in italics.


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)


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