{"data":{"id":"us-ky/krs-141.424","jurisdiction":"us-ky","citation":"KRS 141.424","heading":"Biodiesel credit distribution for pass-through entities.","body":"(1) In the case of a biodiesel producer, biodiesel blender, or renewable diesel producer\nwhich is a pass-through entity not subject to tax under KRS 141.040, the amount of\napproved credit shall be applied against the tax imposed by KRS 141.0401 at the\nentity level, and shall also be distributed to each partner, member, shareholder, or\nbeneficiary based on the partner's, member's, shareholder's, or beneficiary's\ndistributive share of the income of the pass -through entity. Each biodiesel producer,\nbiodiesel blend er, or renewable diesel producer shall notify the department\nelectronically of all partners, members, shareholders, or beneficiaries who may\nclaim any amount of the approved credit. Failure to provide information to the\ndepartment in a manner prescribed by  administrative regulation may constitute the\nforfeiture of available credits to all partners, members, shareholders, or beneficiaries\nin the pass-through entity.\n(2) An agricultural cooperative association organized under KRS Chapter 272 or 272A\nmay elect  to apportion pro rata any amount of the approved credit among the\nmembers of the association and, if a limited cooperative association, among patron\nmembers only, on the basis of the quantity or value of business done with or for\nsuch members for the taxa ble year. The agricultural cooperative association shall\nnotify the department electronically of all members who may claim any amount of\nthe approved credit if the election is made.","path":["KRS Chapter 141"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41108","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:35Z","sha256":"7750a64f72426847231c4040c3a721dfa0f4f1bacb90deae4707ac546d5c8152","source_id":"us-ky","stale":false,"prev":"us-ky/krs-141.4231","next":"us-ky/krs-141.4242"},"notice":"GroundRules: Original legal text. Not legal advice."}