Ky. Rev. Stat. Ann. ch. 136 – Corporation And Utility Taxes | Midpage

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Kentucky Revised Statutes

Chapter 136

Ky. Rev. Stat. Ann. ch. 136

Corporation And Utility Taxes

Commonwealth of Kentucky

136.010Definitions for chapter, except KRS 136.500 to 136.575.136.012"Production credit association" defined.136.013"Bank for cooperatives" defined.136.020Assessment of property of corporations.136.050Time of payment of corporation, property, and franchise taxes -- Interest -- Penalties.136.060Corporation organization tax.136.073Average net capital tax on open-end registered investment companies.136.076Auditing of returns -- Assessment of additional tax.136.115Definitions for KRS 136.120 to 136.180.136.120Public service corporation property tax -- Exemptions -- Classification -- Assessment -- Certification.136.130Reports of all public service corporations -- Extensions.136.132Report of vehicles owned or operated by public service corporations -- Vehicle assessment certified separately.136.140Reports of interstate public service corporations.136.150Ascertainment of facts on failure to report.136.160Valuation of property -- Determination.136.170Apportionment of property valuation.136.180Notice and certification of valuation -- Effect of appeal on payment of taxes -- Payment of fee by any district which has value certified by department.136.1801Definitions for KRS 136.1801 to 136.1806.136.1802Watercraft assessment and taxation -- Allocation of tax receipts -- Value determination.136.1803Description of watercraft operated during previous calendar year to be filed with department.136.1804Notification of assessed value of watercraft -- Protest -- Tax rates -- Distribution of tax receipts -- Administrative fee.136.1805Base collections.136.1806Taxes levied under KRS 136.1801 to 136.1806 not exclusive.136.1873Application of section -- Taxation of vehicles of system whose route or operation is partly within this state.136.1875Information to be furnished by fleet owner.136.1877Application of section -- Appeal from notice of tentative assessment -- Effect of appeal on payment of taxes -- Collection of state taxes -- Aggregate local rate to be set annually -- Distribution.136.188Annual fee on trucks, tractors, and buses operating partly within and partly outside Kentucky -- Fee to replace ad valorem tax -- Determination of value and fee -- Collection and distribution -- Protest.136.190Boundary report of cities of the home rule class and taxing districts.136.200Allocation of railroad bridge assessment.136.290Report of savings and loan, savings bank, and similar institutions -- Value determination -- Notice.136.291Inapplicability of KRS 136.290, 136.300, and 136.310 after January 1, 2021 -- Savings and loan associations subject to corporation income tax and limited liability entity tax after January 1, 2021 -- Short-year returns.136.300Rate and payment of tax -- Exemption from other taxes -- Charging against dividends.136.310Tax on and reports from foreign savings and loan associations, savings banks, and similar institutions.136.320Tax on taxable capital of domestic life insurance companies in lieu of other taxes -- State and local rates.136.330Tax on premium receipts life insurance company -- Exception.136.335Irrevocable election of method of taxation for domestic life insurance companies -- Time of filing.136.340Tax on amounts paid to stock insurance companies, other than life.136.350Tax on amounts to mutual companies, other than life and Lloyd's insurers.136.360Tax on amounts paid to stock insurance, to defray cost of administering fire prevention and insurance laws.136.370Tax on attorneys for exchange of reciprocal or interinsurance contracts -- Additional tax on premiums of stock insurers.136.372Declaration of estimated tax -- Payment -- Adjustments -- Penalties.136.381Reports and payments due notwithstanding dissolution or retirement.136.390Tax on insurance companies other than stock or mutual.136.392Premium surcharge.136.395Hospital, medical or dental service companies exempt from premium tax.136.410Tax on bail bondsmen fees.136.500Definitions for KRS 136.500 to 136.575.136.505Franchise tax for financial institutions for taxable years prior to January 1, 2021.136.506Inapplicability of KRS 136.505 after January 1, 2021 -- Financial institutions subject to corporation income tax, limited liability entity tax, and applicable local government franchise taxes after January 1, 2021 -- Short-year returns.136.510Rate of franchise tax -- Minimum tax.136.515Net capital determination -- Effect of changes in identity, form, or place of organization -- Effect of combination of financial institutions.136.520Conditions constituting regularly engaging in business in the Commonwealth by financial institutions.136.525Apportionment of net capital for financial institutions with taxable business activity within and without the Commonwealth.136.530Calculation of receipts factor.136.535Calculation of property factor.136.540Calculation of payroll factor.136.545Tax returns -- Extension of time for filing.136.550Examination and audit of tax returns -- Assessment of excess.136.555Refunds or credits for overpayment of tax.136.560Recordkeeping procedures and retention.136.565Liability of corporate officers for taxes.136.570Penalties -- Limitation on administrative or court proceedings by delinquent financial institutions.136.575Local government franchise taxes -- Filing of report of deposits -- Tax rate.136.600Purpose of KRS 136.600 to 136.660 and 132.825.136.602Definitions for KRS 136.600 to 136.660.136.604Excise tax -- Multichannel video programming services -- Rate-sourcing rule.136.605Sourcing of communications services -- Definitions.136.606Provider's power to collect from consumer -- Separate display of tax --- Taxes collected constitute debt to Commonwealth.136.608Exclusions from excise tax.136.610Credit for tax paid in other state.136.612Exception in the case of worthless accounts.136.614Compensation to collect and timely remit excise tax.136.616Imposition of tax on gross revenues -- Multichannel video programming services and communications services -- Rates -- Collection of tax from purchaser prohibited -- Exclusion for municipal utility.136.617Credit for tax on multichannel video programming or communications service paid in another state.136.618Application for certificate of registration.136.620Taxes due monthly -- Required monthly return -- Contents of return.136.622Extension of time for filing return.136.624Time for assessing taxes shown owing.136.626Offset of overpayments against tax owing.136.628Record retention.136.630Interest on overdue tax.136.632Refund or credit of taxes paid -- Claims.136.634Administration by the department.136.636Security for compliance.136.638Officer and member liability for taxes due.136.640Return of tax savings to customers.136.642Legal action not to delay collections.136.644Limitations of legal actions.136.646Penalties.136.648Gross revenues and excise tax fund and state baseline and local growth fund -- Creation and administration of funds.136.650Required participation in funds -- Computation of amounts -- Designated monthly hold harmless amount.136.652Distribution -- Administrative costs -- Monthly hold harmless amounts.136.654Determination of distributions -- State baseline and local growth fund.136.656Distributions -- County growth portion -- State baseline portion.136.658Local Distribution Fund Oversight Committee -- Creation and duties.136.660Prohibitions -- Local franchise fee or tax defined.136.980Penalty for delinquency in payment.136.985Penalty for failing to file return.136.990Penalties.