Kentucky HB82 amends tax laws to exclude income from the sale or exchange of currency or bullion.
Kentucky HB82 modifies the state's tax code to exclude income derived from the sale or exchange of currency or bullion. The bill specifies that "currency" and "bullion" are defined as per KRS 139.480. This amendment applies to both individual and corporate taxpayers, altering their gross and adjusted gross income calculations. The bill also details various other tax deductions and exclusions, including those related to military pay, pension plans, and certain interest income.
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