141.410 Definitions for KRS 141.410 to 141.414.

325 words·~1 min read·/ky/chapter-141/141-410

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

As used in KRS 141.410 to 141.414, unless the context requires otherwise:

(1)"Approved costs" means the costs incurred during the taxable year by a qualified

farming operation for training and improving the skills of managers and employees

involved in a networking project.

(2)"Business network" means a formalized, collaborative mechanism organized by and

operating among three

(3)or more qualified farming operations, industrial entities,

business enterprises, or private sector firms for the purposes of, but not limited to:

pooling expertise; improving responses to changing technology or markets;

lowering the risks to individual entities of accelerated modernization; encouraging

new technology investments, new market development, and employee skills

improvement; and developing a system of collective intelligence among

participating entities.

(3)"Food producing facilities" means establishments that manufacture or process foods

and beverages for human consumption, and which are included under the three

digit NAICS code three hundred eleven (311).

(4)"Networking project" means a project by which farmers and other entities involved

in the production of food join together to form a network approved by the Cabinet

for Economic Development for the purpose of producing or expanding the

production of crops or livestock necessary for the establishment or expansion of

secondary food-producing facilities in Kentucky.

(5)"Qualified farming operation" means an individual, sole proprietorship, partnership,

joint venture, trust, unincorporated organization, association, corporation, or

institution, engaged in farming in Kentucky that provides raw materials for food-

producing facilities in Kentucky, and that purchases new buildings or equipment, or

that incurs training expenses, to support its participation in a networking project.

(6)"NAICS code" means the classification system grouping business operations or

enterprises as published in the North American Industry Classification System

United States Manual published by Convergence Working Group and the United

States Office of Management and Budget, 2002 edition.

(7)"Kentucky gross receipts" means Kentucky gross receipts as defined in KRS

141.0401.

(8)"Kentucky gross profits" means Kentucky gross profits as defined in KRS

141.0401.