{"data":{"id":"us-ky/krs-141.4246","jurisdiction":"us-ky","citation":"KRS 141.4246","heading":"Ethanol or cellulosic ethanol credit distribution for pass-through entities.","body":"(1) An ethanol producer or a cellulosic ethanol producer that is a pass -through entity\nnot subject to tax under KRS 141.040 shall apply the amount of approved credit\nagainst the tax imposed by KRS 141.0401 at the entity level, and shall also\ndistribute the amount of the approved credit to each partner, member, shareholder,\nor beneficiary based on the partner's, member's, shareholder's, or beneficiary's\ndistributive share of the income of the pass-through entity.\n(2) Each ethanol producer or cellulosic ethanol 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 result in the\nforfeiture of available credits to all partners, members, shareholders, or beneficiaries\nin the pass-through entity.\n(3) 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 taxable 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.\n(4) Failure to provide information to the department in a manner prescribed by\nadministrative regulation may result in the forfeiture of available credits to all\npartners, members, shareholders, or beneficiaries in the pass -through entity or\nagricultural cooperative association.","path":["KRS Chapter 141"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41109","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:35Z","sha256":"6cf0cca99fdcda95e65104afcb9c05f8bfa39f50dce2f301134ed63b246ecc82","source_id":"us-ky","stale":false,"prev":"us-ky/krs-141.4244","next":"us-ky/krs-141.4248"},"notice":"GroundRules: Original legal text. Not legal advice."}