Ky. Rev. Stat. Ann. § 139.471 - Transactions Excluded From Additional Tax.

139.471 Transactions excluded from additional tax.

Excluded from the additional taxes imposed by KRS 139.200 and 139.310 are gross receipts:

1. Derived from sales of and the storage, use, or other consumption of tangible personal property purchased for use in the performance of a lump-sum, fixed-fee contract executed on or before March 9, 1990;
2. Derived from sales made under fixed price sales contracts executed on or before March 9, 1990, provided the contract specifies a five percent (5%) sales tax rate; and
3. Derived from a lease or rental agreement entered into on or before March 9, 1990.

Effective: July 1, 2007

History: Amended 2007 Ky. Acts ch. 141, sec. 20, effective July 1, 2007. -- Created 1990 Ky. Acts ch. 476, Pt. VII A, sec. 623, effective July 1, 1990.