KRS 143A.035 — Credit against tax imposed on severed or processed limestone

(1) A credit is hereby allowed against the tax imposed by this chapter on the gross
value of limestone which is severed or processed within this state and sold to a
purchaser outside of this state.
(2) The credit allowed in subsection (1) of this section shall be equal to the tax imposed
by this chapter on the gross value of a similar quantity of severed or processed
limestone valued as of the day the sale is made to a purchaser outside of this state.
(3) The credit allowed in this section shall extend only to a taxpayer who severs or
processes limestone through the rip -rap construction aggregate or agricultural
limestone stages, and who sells in interstate commerce not less than sixty percent
(60%) of such stone. The credit shall not be allowed to a taxpayer wh o processes
the limestone beyond the agricultural limestone stage.