|
Click here for New Motor Vehicle Trade-In Allowance for Motor Vehicle Usage Tax
2009 Special Session HB 3 Fact Sheet
- Questions concerning this incentive may be referred to the Department of Revenue’s Motor Vehicle Usage Tax Section at 502–564-4455.
- The Motor Vehicle Usage Tax is a tax on a motor vehicle’s value when purchased and offered for registration. Receipts for this tax are deposited into the Road Fund.
- The 2009 Special Session in House Bill 3 enacted a one year allowance for trade-in value to be deducted from the total consideration given in determining a new vehicle’s retail price subject to tax.
- The trade-in allowance may be utilized for new vehicles purchased September 1, 2009 through August 31, 2010.
- The new car trade-in allowance provision has a cap of $25 million. If the total amount of Motor Vehicle Usage Tax reduced by the trade-in allowance reaches $25 million, then the trade-in allowance will no longer be recognized.
- The Department filed an Emergency Administrative Regulation (103 KAR 44:130E) on August 14 to outline how the cap will be computed and monitored.
|
___________________________________________
ATTENTION: ALL RETAILERS -- HB 144, Effective April 1, 2009 -- Sales Tax Changes for Packaged Liquors and Tobacco Tax Modifications
2009 County Clerk Tax Sale Dates (13K)(June 30, 2009)
 |
New Home Tax Credit |
 |
|
NEW HOME TAX CREDIT
The New Home Tax Credit is a nonrefundable individual income tax credit that is effective July 26, 2009 and applies to a "qualified buyer" who purchases a "qualified principal residence" during the one-year period of July 26, 2009 through July 25, 2010.
The New Home Tax Credit allowable to a qualified buyer is $5,000, provided a cap of $25 million for all approved New Home Tax Credits has not been met.
TOTAL AVAILABLE NEW HOME TAX CREDIT: $25,000,000
Amount Allocated to Date: $3,217,500
Remaining Amount Available
for Qualified Buyers: $21,782,500
Date Last Application Processed: 11/29/09
|
|
E-Filing and Payment Options |
|
|
E-Filing and Payment Options
| |
|
Announcements |
|
|
Corporation Income and LLET Estimated Tax Payments for 2009
Estimated tax payments are required for corporation income tax and the limited liability entity tax (LLET). Form 720-ES includes estimated tax payments for the corporation income tax imposed by KRS 141.040 and the (LLET) imposed by KRS 141.0401. Corporations as defined in KRS 141.010(24)(a) are subject to both the corporation income tax imposed by KRS 141.040 and the LLET imposed by KRS 141.0401. Limited liability pass-through entities as defined in KRS 141.010(28) are subject to the LLET, including S corporations. S corporations are also subject to the corporation income tax in certain cases under the provisions of KRS 141.040(14). The first estimated payment installment, equal to 50 percent of the estimated tax, is due by the 15th day of the sixth month; the second installment equal to 25 percent of the estimated tax is due by the 15th day of the ninth month; and the third installment equal to 25 percent of the estimated tax is due by the 15th day of the 12th month of an entity’s calendar or fiscal year. Corporation income tax and LLET must be reported separately on Form 720-ES.
NOTE: The Kentucky Estimated Tax Voucher, 2009 Corporation Income/Limited Liability Entity Tax Form 720ES, will not be mailed to corporations and limited liability pass-through entities that are subject to declaration payments. It was determined 95 percent of corporations and pass-through entities are using software for their estimated tax vouchers. These are available from the link below or call (502) 564-8139 or (502) 564-3658 for a copy.
2009 Kentucky Estimated Tax Voucher - Corporation Income - Form 41A720-ES
Instructions for Filing 2009 Estimated Tax Voucher - Form 41A720-ES
Additional Corporation Tax forms can be found on the FORMS pages. (March 20, 2008) |
|
How Do I ......................? |
|
|
County Information |
|
County Information links to an interactive map that directs you to each of Kentucky's 120 counties. Find address, phone, fax, email & Web site information on each county's PVA, Sheriff, Clerk, Attorney and Judge Executive.
|