42.4501 Definitions for KRS 42.450 to 42.495.
112 words·~1 min read·
/ky/chapter-42/42-4501A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in KRS 42.450 to 42.495:
(1)"Refund" means a payment of money from the State Treasury to a taxpayer, upon
the authorization of the Department of Revenue following the submission of a
timely request filed in accordance with applicable statutes and administrative
regulations, representing all or part of an overpayment previously made by the
taxpayer for a tax liability arising under KRS 143.020 or 143A.020; and
(2)"Severance and processing taxes on coal collected annually" means the total
amount of money collected from the tax imposed by KRS 143.020 in a given fiscal
year, reduced by the total amount of refunds of that tax paid during the prior fiscal
year.