Mark Loyd Addresses New Kentucky Bill Clarifying Effect of Tax Forms and Regulations
Bingham Greenebaum Doll LLP Tax and Employee Benefits Practice Group Chair Mark A. Loyd discussed the bill recently signed by Kentucky Governor Matt Bevin that distinguishes the effect of tax forms and regulations in a recent issue of State Tax Notes.
SB 129, introduced in January, declares that the state’s Department of Revenue is precluded from claiming that its tax forms and accompanying instructions have the same force and effect of a regulation according to the publication. The bill passed both the House and Senate without opposition.
“Practitioners have been concerned about proper notice to affected parties and the legal effect of tax forms because, for example, changes to tax forms were not apparent like in substantive regulations, which highlight added, deleted, or modified language in the regulation itself,” said Loyd.
According to State Tax Notes, SB 129 changes some of the rules and procedures in place for state administrative bodies. For example, the bill clarifies that an administrative body may submit a written request for a technical amendment to an administrative regulation, and it provides examples—rather than a comprehensive list—of the changes that can be made through technical amendments.
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