Kentucky Revised Statutes Title XI. Revenue and Taxation § 141.081.Optional standard deduction for individuals; exception

(a) Six hundred and fifty dollars ($650) for taxable years beginning before December 31, 1996;

(b) Nine hundred dollars ($900) for taxable years beginning after December 31, 1996, but before December 31, 1997;

(c) One thousand two hundred dollars ($1,200) for taxable years beginning after December 31, 1997, but before December 31, 1998;

(d) One thousand five hundred dollars ($1,500) for taxable years beginning after December 31, 1998, but before December 31, 1999;

(e) One thousand seven hundred dollars ($1,700) for taxable years beginning after December 31, 1999, but before December 31, 2000; and

(f) The amount calculated under subsection (2) of this section for taxable years beginning after December 31, 2000.

(2) (a) For taxable years beginning after December 31, 2000, and each taxable year thereafter, the standard deduction for the current taxable year shall be equal to the standard deduction for the prior taxable year multiplied by the greater of:

(b) As used in this subsection, a tax year shall be the twelve (12) month period beginning in January and ending in December.

(c) As used in this subsection, “CPI-U” means the nonseasonally adjusted United States city average of the Consumer Price Index for all urban consumers for all items, as released by the federal Bureau of Labor Statistics.