HB 127/FN (BR 373) - J. Wayne, T. Burch, K. Flood, J. Jenkins, M. Marzian, R. Meeks, D. Owens, R. Palumbo, R. Smart, S. Westrom
AN ACT relating to taxation.
Amend KRS 140.130 to decouple from changes to the federal estate tax since 2003; amend KRS 141.010 to provide for a phase-out of the pension exclusion; amend KRS 141.020 to provide for changes to income tax rates and to impose the tax on adjusted gross income; amend KRS 141.081 to conform; amend KRS 141.066 to provide for a refundable earned income credit; amend KRS 141.0205 to recognize changes in income tax credits; amend KRS 139.200 to impose sales tax on selected services; amend KRS 141.383, 148.544, and 148.546 to make the film industry tax credit nonrefundable and nontransferable; provide that income tax provisions apply for tax years beginning on or after January 1, 2012, estate tax provisions apply for deaths occurring on or after August 1, 2012, and sales tax provisions apply for periods beginning on or after July 1, 2012.
(Prefiled by the sponsor(s).)
Jan 3-introduced in House; to Appropriations & Revenue (H)