{"data":{"id":"us-ky/krs-141.4244","jurisdiction":"us-ky","citation":"KRS 141.4244","heading":"Nonrefundable credit for producers of cellulosic ethanol.","body":"(1) (a) For taxable years beginning after December 31, 2007, a cellulosic ethanol\nproducer shall be eligible for a nonrefundable tax credit against the taxes\nimposed by KRS 141.020 or 141.040 and 141.0401 in an amount certified by\nthe department under subsection ( 3) of this section. The credit rate shall be\none dollar ($1) per cellulosic ethanol gallon produced, unless the total amount\nof approved credit for all cellulosic ethanol producers exceeds the annual\ncellulosic ethanol tax credit cap. If the total amount o f approved credit for all\ncellulosic ethanol producers exceeds the annual cellulosic ethanol tax credit\ncap, the department shall determine the amount of credit each cellulosic\nethanol producer receives by multiplying the annual cellulosic ethanol tax\ncredit cap by a fraction, the numerator of which is the amount of approved\ncredit for the cellulosic ethanol producer and the denominator of which is the\ntotal approved credit for all cellulosic ethanol producers.\n(b) The credit allowed under paragraph (a) of this subsection shall be applied both\nto the income tax imposed under KRS 141.020 or 141.040 and to the limited\nliability entity tax imposed under KRS 141.0401, with the ordering of credits\nas provided in KRS 141.0205.\n(2) The credit provided under subsection (1) of this section shall not be carried forward\nto a return for any other period.\n(3) Each cellulosic ethanol producer eligible for the credit provided under subsection\n(1) of this section shall file a cellulosic ethanol tax credit claim for cellulosi c\nethanol gallons produced in this state on forms prescribed by the department by\nJanuary 15 following the close of the preceding calendar year. The department shall\ndetermine the amount of the approved credit based on the amount of cellulosic\nethanol produced in this state during the preceding calendar year and shall issue a\ncredit certificate to the cellulosic ethanol producer by April 15 following the close\nof the preceding calendar year.\n(4) In the case of a cellulosic ethanol producer that has a fiscal  year end for purposes of\ncomputing the tax imposed by KRS 141.020, 141.040, and 141.0401, the amount of\napproved credit provided under subsection (1) of this section shall be claimed on\nthe return filed for the first fiscal year ending after the close of the preceding\ncalendar year.","path":["KRS Chapter 141"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29149","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:35Z","sha256":"fbcc15dc3025fa0e200ac5e92f1a2244a051e73fd581a40582093767c53d39e5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-141.4242","next":"us-ky/krs-141.4246"},"notice":"GroundRules: Original legal text. Not legal advice."}