{"data":{"id":"us-ky/krs-154.20-206","jurisdiction":"us-ky","citation":"KRS 154.20-206","heading":"Authorization of sales and use tax refund for approved company --","body":"Administrative regulations.\n(1) Notwithstanding any provision of KRS 139.770 to the contrary, an approved\ncompany under the terms of KRS 154.20 -200 to 154.20 -216 may receive a tax\nrefund of sales and use tax paid on approved expenses for the cost of building and\nconstruction materials that are permanently incorporated as an improvement to real\nproperty to an economic development project and equipment used in research and\ndevelopment a t an economic development project. The approved company shall\nhave no obligation to refund or otherwise return any amount of the sales and use tax\nrefund to the person who originally collected the tax and remitted it to the state.\n(2) An approved company shall only apply for a refund:\n(a) Of sales and use tax paid for construction materials and building fixtures and\nfor equipment used in research and development purchased during the life of\nthe economic development project not to exceed the amount specified  in the\napproved company's agreement, as defined in KRS 154.20-200; and\n(b) Within sixty (60) days after the completion of the economic development\nproject or the expiration of the life of the project, whichever occurs first.\n(3) An approved company shall execute information-sharing agreements prescribed by\nthe Department of Revenue with contractors, vendors, and other related parties to\nverify construction material and building fixture costs and equipment used in\nresearch and development, including applica ble taxes, for the economic\ndevelopment project.\n(4) Interest shall not be allowed or paid on any refund made under the provisions of this\nsection. The Department of Revenue may examine any refund within four (4) years\nfrom the date the refund application is received. An overpayment resulting from the\nexamination shall be repaid to the State Treasury. Any amount required to be repaid\nis subject to the interest provisions of KRS 131.183 and to the penalty provisions of\nKRS 131.180.\n(5) The Department of Revenue may promulgate administrative regulations, pursuant to\nthe provisions of KRS Chapter 13A, and shall require the filing of forms designed\nby the Department of Revenue to reflect the intent of KRS 154.20 -200 to 154.20 -\n216.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2689","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:53Z","sha256":"e24448623006825d9cfc0aa404a216158283541a2e9cc89c3920a6aeb157c37d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.20-204","next":"us-ky/krs-154.20-208"},"notice":"GroundRules: Original legal text. Not legal advice."}