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HB 721 Kentucky House · 2025 Regular Session

AN ACT relating to the limited liability entity tax.

Summary
Amend KRS 141.0401 to prevent entities doing business in Kentucky with gross receipts of less than $100,000 from paying the limited liability entity tax for taxable years beginning on or after January 1, 2026.
Issues: ✓ Budget & TaxesSupports Budget & TaxesExempts small businesses ($100k gross receipts) from LLC tax, providing direct tax relief per fiscal note and small business subjects.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 19, 2025 Last action Feb 27, 2025
Floor votes

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Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
2
Feb 27, 2025
Committee
to Appropriations & Revenue (H)
lower
Feb 19, 2025
Committee
to Committee on Committees (H)
lower
Feb 19, 2025
Introduced
introduced in House
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.