I. INCOME/FRANCHISE TAXES.
A. Legislative Developments.
None.
B. Judicial Developments.
1. World Acceptance Corporation, et al. v. Commonwealth of
Kentucky, Finance & Administration Cabinet, Department of
Revenue, Kentucky Board of Tax Appeals, File No. K13-R-18,
Order No. K-24682 (August 29, 2014), appealed to Franklin Circuit
Court, Civil Action No. 2014-CI- 1193 (August 14, 2015),
vacated and reversed (November 10, 2015), appealed to
Kentucky Court of Appeals, Case No. 2015-CA-001852 (Pending).
On November 10, 2015, the Franklin Circuit Court granted the
Kentucky Department of Revenue's (the "KDOR") motion
to alter, amend, or vacate the Court's August 14, 2015 Order
holding that an out-of-state corporation and its Kentucky
subsidiary were required to file consolidated income tax returns.
In so doing, the Court affirmed the final ruling of the KDOR and
the Kentucky Board of Tax Appeals (the "KBTA"). The
taxpayers, World Acceptance Corporation
