KY HB399 | 2015 | Regular Session
Status
Spectrum: Bipartisan Bill
Status: Introduced on February 10 2015 - 25% progression, died in committee
Action: 2015-02-11 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Status: Introduced on February 10 2015 - 25% progression, died in committee
Action: 2015-02-11 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Summary
Create new sections of KRS Chapter 141 and amend various sections of KRS Chapters 131, 141, and 154 to amend the calculation of the estimated tax penalty; clarify that no interest is due on estimated tax payments; allow for annualized income for taxpayers whose income fluctuates during the year; mimic the federal estimated tax penalty calculation as nearly as practicable; apply to taxable years beginning January 1, 2015; amend KRS 131.183 to apply the calculated interest rate to both overpayments and underpayments; apply retroactively to all outstanding refund claims and notices of tax due.
Title
AN ACT relating to taxation.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2015-02-11 | House | to Appropriations & Revenue (H) |
| 2015-02-10 | House | introduced in House |
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | http://www.lrc.ky.gov/record/15RS/HB399.htm |
| Text | http://www.lrc.ky.gov/record/15RS/HB399/bill.doc |
