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AN ACT relating to estimated income tax penalties. Create new sections of KRS Chapter 141 and amend various sections of KRS Chapters 131, 141, and 154 to amend the calculation of the estimated tax penalty; clarify that no interest is due on estimated tax payments; allow for annualized income for taxpayers whose income fluctuates during the year; mimic the federal estimated tax penalty calculation as nearly as practicable; apply to taxable years beginning January 1, 2014.



  • R. Damron
  • C. Embry Jr.
  • R. Palumbo
  • S. Westrom