141.4425 Designation of income tax refund to Kentucky YMCA Youth Association.

207 words·~1 min read·/ky/chapter-141/141-4425

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

(1)Effective for taxable years beginning on or after January 1, 2019, any taxpayer

required to file a return under KRS 141.180 who is entitled to an income tax refund

and who desires to contribute to the Kentucky YMCA Youth Assembly program

may designate an amount, not to exceed the amount of the refund, to be paid to the

Kentucky YMCA Youth Association. A designation made under this section shall

not affect the income tax liability of the taxpayer, but it shall reduce the income tax

refund by the amount designated.

(2)The tax refund designation authorized by this section shall be printed on the face of

the Kentucky individual income tax form.

(3)The instructions accompanying the individual income tax return shall include a

description of the Kentucky YMCA Youth Assembly and the purposes for which

the funds from the income tax checkoff may be used.

(4)The department shall, by July 1, 2020, and by July 1 of each year thereafter, transfer

the funds designated by taxpayers under this section to the Kentucky YMCA Youth

Association.

(5)The funds transferred to the Kentucky YMCA Youth Association under subsection

(4)of this section shall be used exclusively in support of the Kentucky YMCA

Youth Assembly program.