Bill > HB147

This bill, concerning inheritance and estate taxes in Kentucky, proposes to extend the deadline for filing tax returns and paying taxes for deaths occurring on or after August 1, 2026. Specifically, it will increase the time allowed to file an inheritance or estate tax return from 18 months to 36 months after the decedent's death. Correspondingly, the due date for paying the tax will also be extended to 36 months, with the discount for early payment and the period before interest accrues being adjusted to align with this new deadline. These changes are intended to provide beneficiaries and personal representatives with more time to settle estates and fulfill tax obligations. The bill also makes conforming amendments to related statutes to ensure consistency in these extended timelines.