{"data":{"id":"us-ky/krs-67.760","jurisdiction":"us-ky","citation":"KRS 67.760","heading":"Applicability of federal income tax law -- Business entity to keep records.","body":"(1) For purposes of KRS 67.750 to 67.790, computations of gross income and\ndeductions therefrom, gross receipts or sales, and deductions therefrom, accounting\nmethods, and accounting procedures shall be as nearly as practicable identical with\nthose required for federal income tax purposes.\n(2) Every business entity subject to an occupational license tax governed by the\nprovisions of KRS 67.750 to 67.790 shall keep records, render under oath\nstatements, make returns, and comply with rules as the tax district from time to time\nmay prescribe. Whenever the tax district deems it necessary, the tax district may\nrequire a business entity, by notice served to the business entity, to make a return,\nrender statements under oath, or keep records, as the tax district de ems sufficient to\ndetermine the tax liability of the business entity.\n(3) The tax district may require, for the purpose of ascertaining the correctness of any\nreturn or for the purposes of making an estimate of the taxable income of any\nbusiness entity, th e attendance of a representative of the business entity or of any\nother person having knowledge in the premises.","path":["KRS Chapter 67"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23785","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:26Z","sha256":"c8a5dc626a6f8ce72de20f7d3f8928705ae928f029cd283c2d5fc248d3648da5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-67.758","next":"us-ky/krs-67.763"},"notice":"GroundRules: Original legal text. Not legal advice."}