HB 78 (BR 31) - B. Farmer
AN ACT relating to taxation and declaring an emergency.
Amend various sections of KRS Chapter 139 to expand the sales and use tax base to include certain services, rental of commercial real estate, and the sale, rental, or lease of shelf space or any other area to display a product; repeal certain exemptions and lower the sales and use tax rate from 6% to 5.5%; create a new section of KRS Chapter 141 to apply the provisions of that chapter to taxable years beginning before January 1, 2011; amend KRS 141.020, 141.040, and 141.0401 to make the individual income tax, corporation income tax, and the limited liability entity tax effective for taxable years beginning before January 1, 2011; amend KRS 138.358 and various sections of KRS Chapter 139 to conform; repeal KRS 139.486; EFFECTIVE July 1, 2010, EMERGENCY.
(Prefiled by the sponsor(s).)
Nov 4-To: Interim Joint Committee on Appropriations and Revenue
Jan 5-introduced in House; to Appropriations & Revenue (H)