Kentucky Statutes 164.758 – Property of authority tax exempt, contributions to be deductible from income or franchise taxes
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(1) All property and income of the Kentucky Higher Education Assistance Authority shall be exempt from all taxes and assessment of any nature whatsoever.
(2) Notwithstanding the provisions of any general or special law or the provisions of any certificate of incorporation, charter, or other articles of organization, all domestic corporations or associations organized for the purpose of carrying on business in this state and any person or group is hereby authorized to make contributions to the Kentucky Higher Education Assistance Authority, and such contributions shall be allowed as deductions in computing the net taxable income of any such person, corporation, or association for the purposes of any income, franchise, or other tax of any nature whatsoever imposed by the state or any political subdivision thereof.
History: Created 1966 Ky. Acts ch. 93, sec. 10.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 2, (10) at 1694.
(2) Notwithstanding the provisions of any general or special law or the provisions of any certificate of incorporation, charter, or other articles of organization, all domestic corporations or associations organized for the purpose of carrying on business in this state and any person or group is hereby authorized to make contributions to the Kentucky Higher Education Assistance Authority, and such contributions shall be allowed as deductions in computing the net taxable income of any such person, corporation, or association for the purposes of any income, franchise, or other tax of any nature whatsoever imposed by the state or any political subdivision thereof.
Terms Used In Kentucky Statutes 164.758
- branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
- Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
History: Created 1966 Ky. Acts ch. 93, sec. 10.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 2, (10) at 1694.