143.020 - Imposition of Tax on Severance or Processing of Coal.

143.020 Imposition of tax on severance or processing of coal.

For the privilege of severing or processing coal, in addition to all other taxes imposed by law, a tax is hereby levied on every taxpayer engaged in severing and/or processing coal within this Commonwealth at the rate of four and one -half percent (4.5%) of the gross value of all coal severed and/or processed during the reporting period; except that the minimum tax for a reporting period shall be an amount determined by applying a rate of fifty cents ($0.50) per ton to the total number of tons severed during the reporting period. The minimum tax shall not apply to a taxpayer who only processes coal.

Effective: July 1, 1978

History: Amended 1978 Ky. Acts ch. 189, sec. 2, July 1, 1978. -- Amended 1976 Ky. Acts ch. 84, sec. 1, effective March 29, 1976. -- Created 1972 Ky. Acts ch. 62, Pt. II, sec. 2.