Kentucky HB785 imposes an annual excise tax on solar farms generating over 500 kilowatts on five or more acres.

Kentucky HB785 introduces an annual excise tax on solar farms within the state. The tax applies to solar farms that generate over 500 kilowatts and occupy five or more acres. Owners must file yearly tax returns and keep accurate records. The tax rate is set at $200 per acre and is adjusted annually based on the Consumer Price Index. Revenues from the tax are directed to the rural development fund. Owners are subject to penalties for non-compliance, including incomplete or fraudulent returns.

Kentucky HB785 imposes an annual excise tax on solar farms generating over 500 kilowatts on five or more acres.

Kentucky HB785 introduces an annual excise tax on solar farms within the state. The tax applies to solar farms that generate over 500 kilowatts and occupy five or more acres. Owners must file yearly tax returns and keep accurate records. The tax rate is set at $200 per acre and is adjusted annually based on the Consumer Price Index. Revenues from the tax are directed to the rural development fund. Owners are subject to penalties for non-compliance, including incomplete or fraudulent returns.