What is KRS 141.0205 and how does it impact the Kentucky Research Facilities Tax Credit? KRS 141.0205 mandates a strict hierarchical application of nonrefundable business tax credits against [...]

What is the interaction between the KRS 141.0401 LLET and the Kentucky R&D Tax Credit? The Limited Liability Entity Tax (LLET) under KRS 141.0401 is a mandatory minimum business excise tax [...]

Answer Capsule: KRS 141.040 establishes Kentucky’s mandatory Corporation Income Tax (CIT), currently at a 5% flat rate. Corporations can offset this liability using the Kentucky Qualified [...]

Answer Capsule: KRS 141.020 establishes the individual income tax in Kentucky, while KRS 141.395 provides a 5% Qualified Research Facility Tax Credit (QRFTC) for tangible, depreciable property. [...]

Quick Answer: What is the 10-Year Carryforward Period for the Kentucky QRF Tax Credit? The 10-Year Carryforward Period allows taxpayers to utilize any portion of the nonrefundable Kentucky [...]

Answer Capsule: The Kentucky Qualified Research Facility Tax Credit (KRS 141.395) is a 5% nonrefundable incentive applied to tangible, depreciable infrastructure costs. It reduces tax liability [...]

Answer Capsule: The Kentucky Qualified Research Facility (QRF) Tax Credit (KRS 141.395) is a nonrefundable 5% incentive applied to the cost of tangible, depreciable property (TDP) used to [...]