Statutes > Kentucky Statutes > CHAPTER 67 COUNTY GOVERNMENT (FISCAL COURTS AND COUNTY COMMISSIONERS) > 67.765 Use of tax year and accounting methods required for federal income tax purposes.

67.765 Use of tax year and accounting methods required for federal income tax purposes.

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Page 1 of 1 67.765 Use of tax year and accounting methods required for federal income tax purposes. If a business entity makes, or is required to make, a federal income tax return, the net <br>profit or gross receipts shall be computed for the purposes of KRS 67.750 to 67.790 on <br>the basis of the same calendar or fiscal year required by the federal government, and shall <br>employ the same methods of accounting required for federal income tax purposes. Effective: June 24, 2003 <br>History: Created 2003 Ky. Acts ch. 117, sec. 7, effective June 24, 2003.