HB 258/FN (BR 1051) - H. Moberly Jr.
AN ACT relating to corporation income tax and limited liability entity tax.
Create a new section of KRS Chapter 141 to provide that the net gain from treasury function transactions be included in the sales factor of the corporation apportionment formula; make conforming amendments to other sections of KRS Chapter 141; apply to taxable periods beginning after December 31, 2007.
HB 258 - AMENDMENTS
HFA (1, J. DeCesare) - Retain original provisions; amend KRS 141.0401 to apply the limited liability entity tax to years beginning before January 1, 2008.
HFA (2, S. Brinkman) - Increase the level of excludable income from the limited liability entity tax and the level of the phase-in of taxable income; decrease the minimum tax.
HFA (3, H. Moberly Jr.) - Amend the apportionment formula for passenger airlines to calculate the property, payroll, and sales factors based on revenue passenger miles.
Jan 10-introduced in House
Jan 15-to Appropriations & Revenue (H)
Jan 31-posted in committee
Feb 5-reported favorably, 1st reading, to Calendar
Feb 6-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 7, 2008; floor amendment (1) filed
Feb 7-floor amendment (2) filed
Feb 29-floor amendment (3) filed
Mar 4-3rd reading; floor amendment (1) defeated ; passed 97-0 with floor amendment (3)
Mar 5-received in Senate
Mar 7-to Appropriations & Revenue (S)
Mar 11-reported favorably, 1st reading, to Consent Calendar
Mar 12-2nd reading, to Rules
Mar 26-posted for passage in the Consent Orders of the Day for Wednesday, March 26, 2008; 3rd reading, passed 36-0
Mar 27-received in House; enrolled, signed by Speaker of the House
Apr 1-enrolled, signed by President of the Senate; delivered to Governor
Apr 9-signed by Governor (Acts Ch. 18)