Levy of income tax on estates, trusts and fiduciaries -- Liability of fiduciaries
Applied in 5 court decisions — leading case Atlantic Coast Line R. Co. v. Commonwealth (1946)
Most recently applied in Davis v. Department of Revenue of the Finance & Administration Cabinet (January 2006)
History: Amended 1954 Ky
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
(1) The tax imposed by KRS 141.020 upon individuals shall apply to estates and trusts and to all fiduciaries. This tax shall be paid annually upon the net income of estates and of any property held in trust at the rates specified in KRS 141.020.
(2) The fiduciary shall be responsible for making the return of income for the person for whom he acts, whether the income is taxable to the fiduciary or to the beneficiaries of the income.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.