HB 312 (BR 1317) - L. Belcher, D. Floyd, D. Graham, J. Adams, D. Butler, R. Crimm, R. Damron, J. DeCesare, B. Farmer, K. Flood, D. Horlander, J. Jenkins, K. King, A. Koenig, M. Marzian, C. Miller, T. Mills, B. Montell, M. Nemes, D. Osborne, R. Palumbo, J. Richards, C. Rollins II, S. Santoro, T. Thompson, B. Waide, S. Westrom, A. Wuchner
AN ACT relating to the taxation of the distilled spirits industry.
Create a new section of KRS Chapter 141 to allow a distilled spirits credit equal to the amount of distilled spirits ad valorem tax timely paid in the taxable year and used for capital improvements at the premise of the distiller; provide for recapture of the tax credit if the capital improvement is sold or otherwise disposed of prior to the useful life of the asset being exhausted; apply to taxable years beginning after December 31, 2012; amend KRS 141.0205 to order the credit.
Jan 24-introduced in House
Jan 25-to Appropriations & Revenue (H)