141.018 Department's authority to interpret and carry out provisions of certain income tax changes made by the 2005 Regular Session and 2006 First Extraordinary Session of the General Assembly -- - Kentucky Statutes

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Page 1 of 1 141.018 Department's authority to interpret and carry out provisions of certain income tax changes made by the 2005 Regular Session and 2006 First
Extraordinary Session of the General Assembly -- Authority to promulgate
administrative regulations to explain or implement changes. Consistent with the provisions of 2005 Ky. Acts ch. 168 and the provisions of 2006 (1st
Extra. Sess.) Ky. Acts ch. 2, the Department of Revenue shall have the authority to
interpret and carry out the provisions and intent of amendments made by the 2005
Regular Session of the General Assembly and the 2006 First Extraordinary Session of the
General Assembly relative to the imposition of the tax assessed under this chapter on
individuals, entities taxable as individuals, entities taxable under KRS 141.040 and
141.0401, the passed-through income of entities taxable under KRS 141.040 and
141.0401, entities considered not taxable or exempt from tax, any other entity or taxable
unit, and any related item of income, deduction, or credit, and shall promulgate
administrative regulations necessary to explain or implement this section. Effective: June 28, 2006
History: Amended 2006 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 70, effective June 28, 2006. -- Created 2005 Ky. Acts ch. 168, sec. 152, effective March 18, 2005. Legislative Research Commission Note (6/28/2006). 2006 (1st Extra Sess.) Ky. Acts ch. 2, sec. 73, provides that "unless a provision of this Act specifically applies to an
earlier tax year, the provisions of this Act shall apply to taxable years beginning on or
after January 1, 2007." Legislative Research Commission Note (3/18/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to
agencies and officers whose names have been changed in 2005 legislation confirming
the reorganization of the executive branch. Such a correction has been made in this
section.