Ky. Rev. Stat. § 141.050

Federal interpretations applicable, when -- Taxpayer record -- Subpoenas

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-- Forms -- Regulations. (1) Except to the extent required by differences between this chapter and its application and the federal income tax law and its application, the administrative and judicial interpretations of the federal income tax law, computations of gross income and deductions therefrom, accounting methods, and accounting procedures, for purposes of this chapter shall be as nearly as practicable identical with those required for federal income tax purposes. Changes to federal income tax law made after the Internal Revenue Code reference date contained in KRS 141.010 shall not apply for purposes of this chapter unless adopted by the General Assembly. (2) Every person subject to the provisions of this chapter shall keep records, render under oath statements, make returns, and comply with the rules and administrative regulations as the department from time to time may promulgate. Whenever the department judges it necessary, it may require a person, by notice served upon him or her, to make a return, render under oath statements, or keep records, as the department deems sufficient to show whether or not the person is liable for tax, and the extent of the liability. (3) The commissioner or his or her authorized agent or representative, for the purpose of ascertaining the correctness of any return or for the purposes of making an estimate of the taxable income of any taxpayers, may require the attendance of the taxpayer or of any other person having knowledge in the premises. (4) The department shall promulgate rules and regulations necessary to effectively carry out the provisions of this chapter. Effective: April 27, 2018 History: Amended 2018 Ky. Acts ch. 171, sec. 76, effective April 14, 2018; and ch. 207, sec. 76, effective April 27, 2018. -- Amended 2016 Ky. Acts ch. 82, sec. 33, effective July 15, 2016. -- Amended 2005 Ky. Acts ch. 85, sec. 476, effective June 20, 2005. -- Amended 2002 Ky. Acts ch. 234, sec. 2, effective July 15, 2002; and ch. 316, sec. 4, effective July 15, 2002. -- Amended 1966 Ky. Acts ch. 176, Part I, sec. 5. -- Amended 1954 Ky. Acts ch. 79, sec. 6. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281b-23. Legislative Research Commission Note (4/27/2018). This statute was amended by 2018 Ky. Acts chs. 171 and 207, which do not appear to be in conflict and have been codified together.

Notes of Decisions

Cited in 10 cases, 1944–1989 · leading case: Commonwealth ex rel. Allphin v. Borders

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Commonwealth ex rel. Allphin v. Borders (1954) kyctapp · cites it 3× “§ 122 , which he contends was applicable for Kentucky income tax purposes by reason of the provisions of KRS 141.050(1). Subject to a number of exceptions and qualifications, the Federal Code section authorized a net operating loss in one year to be carried over into the…”

Koehler v. Commonwealth ex rel. Luckett (1968) kyctapp · cites it 3× “190(4) the “situs of intangible personal property for purposes of taxation shall be at the residence of the real or beneficial owner, and not at the residence of the fiduciary or agent having custody or possession,” it became the duty of the Commissioner of Revenue under KRS 141.”

Revenue Cabinet Commonwealth v. Southwire Co. (1989) kyctapp · cites it 3× “*600 KRS 141.050(1) requires that deductions for purposes of Kentucky income tax shall be, as nearly as practicable, identical with comparable Federal deductions.”

Ballard County v. Citizens State Bank of Wickliffe (1953) kyctapp “KRS 141.050, 141.-210. The case holds that where the increase has been made by the.”

Kroger Co. v. Department of Revenue (1977) kyctapp “Further reference is made to federal law by KRS 141.050(1) which provides: “Except to the extent required by differences between this chapter and its application and the federal income tax law and its application, the administrative and judicial interpretations of the federal…”

Brown v. Department of Revenue ex rel. Carpenter (1977) kyctapp · cites it 2× “Brown also cites KRS 141.050(1) for the rule that computations of gross income and deductions for Kentucky purposes shall be as nearly identical as practicable to those required for federal income tax purposes.”

Churchill Downs-Latonia, Inc. v. Reeves (1944) kyctapphigh “The state income tax law provides (KRS 141.050) that, “* * * The department shall apply as far as practicable the administrative and judicial interpretations of the Federal income tax law.”

Oates, Com'r of Revenue v. Ballard (1945) kyctapphigh · cites it 2× “050) provides: *663 “* * * The department shall apply as far as practicable the administrative and judicial interpretation of the Federal income tax law * # * ” The Commissioner insists that under this provision Kentucky must follow the federal statute as interpreted by the…”

Department of Revenue v. Refiners Oil Corp. (1981) ky “” The Department of Revenue contends that “dividends” are not defined by Statute in Kentucky, and thus the provisions of the Internal Revenue Code apply as provided in KRS 141.050(1): “Except to the extent required by differences between this chapter and its application and the…”

McDonald v. Luckett (1957) kyctapp “Under KRS 141.050 it was provided “computations of income for purposes of this chapter shall be as nearly as practicable identical with the calculations required for Federal income tax purposes”.”

— Ky. Rev. Stat. § 141.050(1) — 6 cases

Commonwealth ex rel. Allphin v. Borders (1954) kyctapp “§ 122 , which he contends was applicable for Kentucky income tax purposes by reason of the provisions of KRS 141.050(1). Subject to a number of exceptions and qualifications, the Federal Code section authorized a net operating loss in one year to be carried over into the…”

Koehler v. Commonwealth ex rel. Luckett (1968) kyctapp “190(4) the “situs of intangible personal property for purposes of taxation shall be at the residence of the real or beneficial owner, and not at the residence of the fiduciary or agent having custody or possession,” it became the duty of the Commissioner of Revenue under KRS 141.”

Revenue Cabinet Commonwealth v. Southwire Co. (1989) kyctapp “*600 KRS 141.050(1) requires that deductions for purposes of Kentucky income tax shall be, as nearly as practicable, identical with comparable Federal deductions.”

Brown v. Department of Revenue ex rel. Carpenter (1977) kyctapp “Brown also cites KRS 141.050(1) for the rule that computations of gross income and deductions for Kentucky purposes shall be as nearly identical as practicable to those required for federal income tax purposes.”

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