Kentucky Administrative Regulations
Title 103 - FINANCE AND ADMINISTRATION CABINET - DEPARTMENT OF REVENUE
Chapter 31 - Sales and Use Tax; Administration and Accounting
Section 103 KAR 31:090 - Tax-paid purchases resold
Current through Register Vol. 50, No. 6, December 1, 2023
RELATES TO: KRS 139.010, 139.200, 139.290, 139.310
NECESSITY, FUNCTION, AND CONFORMITY: KRS 131.130(1) authorizes the Department of Revenue to promulgate administrative regulations for the administration and enforcement of Kentucky tax laws. This administrative regulation interprets the sales and use tax law as it applies to tax-paid purchases resold.
Section 1. Definition. "Tax-paid purchases resold" means a sales and use tax deduction taken by a retailer on the sales tax return in the amount of the purchase price of property where the retailer:
Section 2. The tax-paid purchases resold deduction described in Section 1 of this administrative regulation may be used in any of the following circumstances:
SU-61; 1 Ky.R. 233; eff. 1-8-1975; TAm eff. 6-9-2009; TAm eff. 6-22-2016; Crt eff. 1-28-2020; 46 Ky.R. 1598; eff. 5-5-2020.
STATUTORY AUTHORITY: KRS 131.130