Tax News

CCH (cch.taxgroup.com) reports:

  The Kentucky Legislature adjourned on March 26, 2009, without reaching agreement on a comprehensive business incentives package that would have provided sales and use tax incentives related to (1) economic development projects for service, technology, manufacturing, or tourism attraction activities; (2) communications system and computer system purchases by technology companies; (3) the development or expansion of tourism projects; and (4) sales made at public facilities owned by governmental entities. The package would have also provided numerous economic development credits against the Kentucky corporation income tax, limited liability entity tax (LLET), and personal income tax, including credits for investment, job training, job retention, research and development, employer-paid tuition, and the film industry. Different versions of the bill had been passed by both the House (TAXDAY, 2009/03/13, S.16) and Senate (TAXDAY, 2009/03/18, S.9).

Telephone call , Kentucky Legislative Research Commission, March 27, 2009; Capital Notes , Kentucky Legislative Research Commission, March 26, 2009