State Codes and Statutes

Statutes > Kentucky > 141-00 > 070

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141.070 Credits allowed individuals for tax paid to other states. (1) Whenever an individual who is a resident of this state has become liable for income tax to another state upon all or any part of his net income for the taxable year, <br>derived from sources without this state and subject to taxation under this chapter, <br>the amount of income tax payable by him under this chapter shall be credited on his <br>return with the income tax so paid by him to the other state, upon his producing to <br>the proper assessing officer satisfactory evidence of the fact of such payment, <br>except that application of such credits shall not operate to reduce the tax payable <br>under this chapter to an amount less than would have been payable were the income <br>from the other state ignored. (2) An individual who is not a resident of this state shall not be liable for any income tax under KRS 141.020(4) if the laws of the state of which such individual was a <br>resident at the time such income was earned in this state contained a reciprocal <br>provision under which nonresidents were exempted from gross or net income taxes <br>to such state, if the state of residence of such nonresident individual allowed a <br>similar exemption to resident individuals of this state. The exemption authorized by <br>this subsection shall in no manner preclude the Department of Revenue from <br>requiring any information reports pursuant to KRS 141.150(2). Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 478, effective June 20, 2005. -- Amended 1974 Ky. Acts ch. 163, sec. 3. -- Amended 1966 Ky. Acts ch. 255, sec. 138. -- <br>Amended 1960 Ky. Acts ch. 5, Art. III, sec. 4. -- Amended 1958 Ky. Acts ch. 3, <br>sec. 2. -- Created 1952 Ky. Acts ch. 194, sec. 3. -- Recodified 1942 Ky. Acts ch. 208, <br>sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4281b-15, 4281b-16.

State Codes and Statutes

Statutes > Kentucky > 141-00 > 070

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141.070 Credits allowed individuals for tax paid to other states. (1) Whenever an individual who is a resident of this state has become liable for income tax to another state upon all or any part of his net income for the taxable year, <br>derived from sources without this state and subject to taxation under this chapter, <br>the amount of income tax payable by him under this chapter shall be credited on his <br>return with the income tax so paid by him to the other state, upon his producing to <br>the proper assessing officer satisfactory evidence of the fact of such payment, <br>except that application of such credits shall not operate to reduce the tax payable <br>under this chapter to an amount less than would have been payable were the income <br>from the other state ignored. (2) An individual who is not a resident of this state shall not be liable for any income tax under KRS 141.020(4) if the laws of the state of which such individual was a <br>resident at the time such income was earned in this state contained a reciprocal <br>provision under which nonresidents were exempted from gross or net income taxes <br>to such state, if the state of residence of such nonresident individual allowed a <br>similar exemption to resident individuals of this state. The exemption authorized by <br>this subsection shall in no manner preclude the Department of Revenue from <br>requiring any information reports pursuant to KRS 141.150(2). Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 478, effective June 20, 2005. -- Amended 1974 Ky. Acts ch. 163, sec. 3. -- Amended 1966 Ky. Acts ch. 255, sec. 138. -- <br>Amended 1960 Ky. Acts ch. 5, Art. III, sec. 4. -- Amended 1958 Ky. Acts ch. 3, <br>sec. 2. -- Created 1952 Ky. Acts ch. 194, sec. 3. -- Recodified 1942 Ky. Acts ch. 208, <br>sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4281b-15, 4281b-16.

State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 141-00 > 070

Download pdf
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141.070 Credits allowed individuals for tax paid to other states. (1) Whenever an individual who is a resident of this state has become liable for income tax to another state upon all or any part of his net income for the taxable year, <br>derived from sources without this state and subject to taxation under this chapter, <br>the amount of income tax payable by him under this chapter shall be credited on his <br>return with the income tax so paid by him to the other state, upon his producing to <br>the proper assessing officer satisfactory evidence of the fact of such payment, <br>except that application of such credits shall not operate to reduce the tax payable <br>under this chapter to an amount less than would have been payable were the income <br>from the other state ignored. (2) An individual who is not a resident of this state shall not be liable for any income tax under KRS 141.020(4) if the laws of the state of which such individual was a <br>resident at the time such income was earned in this state contained a reciprocal <br>provision under which nonresidents were exempted from gross or net income taxes <br>to such state, if the state of residence of such nonresident individual allowed a <br>similar exemption to resident individuals of this state. The exemption authorized by <br>this subsection shall in no manner preclude the Department of Revenue from <br>requiring any information reports pursuant to KRS 141.150(2). Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 478, effective June 20, 2005. -- Amended 1974 Ky. Acts ch. 163, sec. 3. -- Amended 1966 Ky. Acts ch. 255, sec. 138. -- <br>Amended 1960 Ky. Acts ch. 5, Art. III, sec. 4. -- Amended 1958 Ky. Acts ch. 3, <br>sec. 2. -- Created 1952 Ky. Acts ch. 194, sec. 3. -- Recodified 1942 Ky. Acts ch. 208, <br>sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4281b-15, 4281b-16.