Kentucky Statutes > Chapter 143 – Coal Tax
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Terms Used In Kentucky Statutes > Chapter 143
- Above-drainage: means coal in a coal bed that outcrops at the surface within a mine permit area and that is accessed at the outcrop location. See Kentucky Statutes 143.010
- Below-drainage: means coal in a coal bed that does not outcrop at the surface within a mine permit area and that is accessed by mine slopes or other openings that penetrate the coal a minimum of thirty (30) feet below the surface drainage level. See Kentucky Statutes 143.010
- Coal: means and includes any material composed predominantly of hydrocarbons in a solid state. See Kentucky Statutes 143.010
- Conviction: A judgement of guilt against a criminal defendant.
- Department: means the Department of Revenue. See Kentucky Statutes 143.010
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- Processing: includes cleaning, breaking, sizing, dust allaying, treating to prevent freezing, or loading or unloading for any purpose. See Kentucky Statutes 143.010
- Registered taxpayer: means a taxpayer who holds a valid coal tax certificate of registration required under KRS 143. See Kentucky Statutes 143.010
- Related party: means two (2) or more persons, organizations, or businesses owned or controlled directly or indirectly by the same interest. See Kentucky Statutes 143.010
- Reporting period: means the period for which each taxpayer shall compute his tax liability and remit the tax due to the department. See Kentucky Statutes 143.010
- severance: means the physical removal of coal from the earth. See Kentucky Statutes 143.010
- Ton: means a short ton of 2,000 pounds. See Kentucky Statutes 143.010
- Transportation expense: means :
1. See Kentucky Statutes 143.010