KRS 143A.035: Credit against tax imposed on severed or processed limestone.

(1) A credit is hereby allowed against the tax imposed by this chapter on the gross

value of limestone which is severed or processed within this state and sold to a

purchaser outside of this state.

(2) The credit allowed in subsection (1) of this section shall be equal to the tax imposed

by this chapter on the gross value of a similar quantity of severed or processed

limestone valued as of the day the sale is made to a purchaser outside of this state.

(3) The credit allowed in this section shall extend only to a taxpayer who severs or

processes limestone through the rip -rap construction aggregate or agricultural

limestone stages, and who sells in interstate commerce not less than sixty percent

(60%) of such stone. The credit shall not be allowed to a taxpayer wh o processes

the limestone beyond the agricultural limestone stage.