AN ACT relating to revenue.

UNOFFICIAL COPY 26 RS BR 2046
Page 1 of 1
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AN ACT relating to revenue. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
Section 1. KRS 141.160 is amended to read as follows: 3
(1) All returns of income for the preceding taxable year shall be made by April 15 in 4
each year, except returns made on the basis of a fiscal year, which shall be made by 5
the fifteenth day of the fourth month following the close of the fiscal year. Blank 6
forms for returns of income shall be supplied by the department. 7
(2) Whenever, in the opinion of the department, it is necessary to examine the federal 8
income tax return or a copy thereof of any taxpayer in ord er to audit his or her 9
return, the department may compel the taxpayer to produce for inspection a copy of 10
his or her federal return and all statements and schedules in support thereof. The 11
department may also require copies of reports of adjustments made b y the federal 12
government. 13
(3) Notwithstanding subsection (1) of this section, all returns of income for the 14
preceding taxable year made by cooperatives as described in Sections 521 and 1381 15
of the Internal Revenue Code or by KRS Chapter 272 shall be made b y September 16
15 in each year, except returns made on the basis of a fiscal year, which shall be 17
made by the fifteenth day of the ninth month following the close of the fiscal year. 18