Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 67.750.Definitions for KRS 67.750 to 67.790

(1) “Business entity” means each separate corporation, limited liability company, business development corporation, partnership, limited partnership, sole proprietorship, association, joint stock company, receivership, trust, professional service organization, or other legal entity through which business is conducted;

(2) “Compensation” means wages, salaries, commissions, or any other form of remuneration paid or payable by an employer for services performed by an employee, which are required to be reported for federal income tax purposes and adjusted as follows:

(3) “Fiscal year” means “fiscal year” as defined in Section 7701(a)(24) of the Internal Revenue Code;

(4) “Employee” means any person who renders services to another person or business entity for compensation, including an officer of a corporation and any officer, employee, or elected official of the United States, a state, or any political subdivision of a state, or any agency or instrumentality of any one (1) or more of the above. A person classified as an independent contractor under the Internal Revenue Code shall not be considered an employee;

(5) “Employer” means “employer” as defined in Section 3401(d) of the Internal Revenue Code;

(6) “Gross receipts” means all revenues or proceeds derived from the sale, lease, or rental of goods, services, or property by a business entity reduced by the following:

(7) “Internal Revenue Code” means the Internal Revenue Code in effect on December 31, 2008, as amended;

(8) “Net profit” means gross income as defined in Section 61 of the Internal Revenue Code minus all the deductions from gross income allowed by Chapter 1 of the Internal Revenue Code, and adjusted as follows:

(9) “Sales revenue” means receipts from the sale, lease, or rental of goods, services, or property;

(10) “Tax district” means a city, county, urban-county, charter county, consolidated local government, school district, special taxing district, or any other statutorily created entity with the authority to levy net profits, gross receipts, or occupational license taxes;

(11) “Taxable gross receipts,” in case of a business entity having payroll or sales revenues both within and without a tax district, means gross receipts as defined in subsection (6) of this section, as apportioned under KRS 67.753;

(12) “Taxable gross receipts,” in case of a business entity having payroll or sales revenue only in one (1) tax district, means gross receipts as defined in subsection (6) of this section;

(13) “Taxable net profit,” in case of a business entity having payroll or sales revenue only in one (1) tax district, means net profit as defined in subsection (8) of this section;

(14) “Taxable net profit,” in case of a business entity having payroll or sales revenue both within and without a tax district, means net profit as defined in subsection (8) of this section, as apportioned under KRS 67.753; and

(15) “Taxable year” means the calendar year or fiscal year ending during the calendar year, upon the basis of which net income or gross receipts is computed.