Kentucky Administrative Regulations
Title 103 - FINANCE AND ADMINISTRATION CABINET - DEPARTMENT OF REVENUE
Chapter 41 - Selective Excise Tax; Cigarettes
Section 103 KAR 41:120 - Retention of records
Universal Citation: 103 KY Admin Regs Service 41:120
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 138.135(4), 138.195
NECESSITY, FUNCTION, AND CONFORMITY: KRS 131.130(1) authorizes the Department of Revenue to promulgate administrative regulations for the administration and enforcement of all tax laws of this state. This administrative regulation prescribes rules for the retention of records required to be maintained by cigarette dealers licensed under KRS 138.195 and all other persons required to maintain records under the provisions of KRS 138.135(4) and 138.195.
Section 1.
(1) Every licensee or other person required
by
KRS
138.135(4) and
138.195
to preserve books, records, invoices, and documents shall keep copies of those
books, records, invoices, and documents on the immediate premises of each place
of business for a period of four (4) years.
(2) This requirement shall be effective for
books, records, invoices, and documents created, made, or received on or after:
(a) July 1, 2013, for licensed distributors,
retail distributors, and retailers of tobacco products, in accordance with
KRS
138.135; and
(b) August 1, 2013, for manufacturers and
importers of cigarettes, in accordance with
KRS
138.195.
(3) These books, records, invoices, and
documents shall be available upon demand during this period of time for
inspection by agents of the Department of Revenue.
STATUTORY AUTHORITY: KRS 131.130(1)
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