Income/Franchise:
Kentucky: New Law Generally Updates State Conformity to Internal Revenue Code
H.B. 8, legislature overrode governor’s veto 4/13/22. Applicable to tax years beginning on or after January 1, 2022, new law generally updates Kentucky statutory corporate and personal income tax references to the Internal Revenue Code as in effect on December 31, 2021, exclusive of any amendments made subsequent to that date and exclusive of Pub. L. No. 117-2, § 9673, related to the federal tax treatment of restaurant revitalization grants.
See forthcoming Multistate Tax Alert for more details on this and other tax-related measures included in this legislation, and please contact us with any questions in the meantime.
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