{"data":{"id":"us-ky/krs-141.384","jurisdiction":"us-ky","citation":"KRS 141.384","heading":"Nonrefundable tax credit for small businesses.","body":"(1) As used in this section, \"small business\" has the same meaning as in KRS 154.60 -\n010.\n(2) (a) For taxable years beginning after December 31, 2010, a small business may be\neligible for a nonrefundable credit of up to one hundred percent (100%) of the\nKentucky income tax imposed under KRS 141.020 or 141.040, and the\nlimited liability entity tax imposed under KRS 141.0401.\n(b) A small business that is subject to the tax imposed by KRS 141.020 or\n141.040 and that has tax credits approved under Subchapter 60 of K RS\nChapter 154 shall apply the credits against the income tax imposed by KRS\n141.020 or 141.040 and against the limited liability entity tax imposed by\nKRS 141.0401, with the ordering of credits as provided in KRS 141.0205.\n(c) A small business that is a p ass-through entity not subject to the tax imposed\nby KRS 141.040 and that has tax credits approved under Subchapter 60 of\nKRS Chapter 154 shall apply the credits against the limited liability entity tax\nimposed by KRS 141.0401, and shall also distribute th e amount of the\napproved tax credits to each partner, member, or shareholder based on the\npartner's, member's, or shareholder's distributive share of income as\ndetermined for the year during which the tax credits are approved, with the\nordering of credits as provided in KRS 141.0205.","path":["KRS Chapter 141"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43462","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:34Z","sha256":"40f91c5bca9300f7797bac37a15ef738160656e2aef53c77d40e8f033b3309fb","source_id":"us-ky","stale":false,"prev":"us-ky/krs-141.383","next":"us-ky/krs-141.3841"},"notice":"GroundRules: Original legal text. Not legal advice."}