§ 67.765

67.76 5 Use of tax year and accounting methods required for federal income tax purposes. If a business entity makes, or is required to make, a federal income tax return, the net profit or gross receipts shall be computed for the purposes of KRS 67.750 to 67.79 0 on the basis of the same calendar or fiscal year required by the federal government, and shall employ the same methods of accounting required for federal income tax purposes. Effective: June 24, 2003 History: Created 2003 Ky. Acts ch. 117, sec. 7, effect ive June 24, 2003.