Title XI, Revenue and Taxation

As used in this chapter, except for KRS 136.500 to 136.575, unless the context requires otherwise: (1) "Out-of-state business property" means all real and personal property having a taxable situs outside this state owned by a corporation for use in the active conduct of a trade o…

As used in this chapter and in KRS 141.040 and unless a different meaning appears from the context, the term "production credit association" means a corporation organized and chartered pursuant to the provisions of section 20 of that Act of Congress known as the "Farm Credit Act …

As used in KRS 136.013 and 141.040 and unless a different meaning appears from the context, the term bank for cooperatives means a corporation organized and chartered pursuant to the provisions of Sections 2 and 3 of that Act of Congress known as the "Farm Credit Act of 1933", as…

The property of all corporations, except where otherwise provided by law, shall be assessed in the name of the corporation in the same manner as that of a natural person, except that, when legally called on, the chief officer shall report a full statement of the property of the c…

- Penalties. (1) Except where otherwise specially provided, all corporations required to make reports to the Department of Revenue shall pay all taxes due the state from them into the State Treasury at the same time as natural persons are required to pay taxes, and when delinquen…

(1) Every corporation incorporated under the laws of this state, having a capital stock divided into shares, shall pay into the State Treasury, at the time of incorporation, an organization tax based upon the number of shares authorized by the articles of incorporation, at the fo…

(1) Every open-end registered investment company organized under the laws of this state and registered under the Investment Company Act of 1940 shall on or before the fifteenth day of the fourth month following the close of each fiscal year, if the company operates on a fiscal ye…

(1) As soon as practicable after each return is received, the department shall examine and audit it. If the amount of tax computed by the department is greater than the amount returned by the taxpayer, the additional tax shall be assessed and a notice of assessment mailed to the …

(1) "Corporation" as used in KRS 136.120 through 136.180 means any corporation, company, association, partnership, or person performing any public service. (2) "Operating property" as used in KRS 136.120 through 136.180 means both the operating tangible property and the franchise…

Assessment -- Certification. (1) (a) The following public service companies shall pay a tax on their operating property to the state, and to the extent the operating property is subject to local taxation, shall pay a local tax to the county, incorporated city, and taxing district…

(1) Each corporation included in KRS 136.120(1) shall annually, between December 31, and April 30, following, make and deliver to the Department of Revenue a report in such form as the department may prescribe, showing such of the following facts as may be requested by the depart…

Vehicle assessment certified separately. (1) Each corporation included in KRS 136.120(1) shall annually, when filing the report required by KRS 136.130, provide to the Department of Revenue a listing of all motor vehicles and trailers operated, owned, or leased by it which are su…

(1) If a public service corporation, foreign or domestic, operates and conducts its business in other states as well as in this state, the report required by KRS 136.130 shall show the following additional facts: the cost and year acquired of the operating property operated, owne…

If any corporation fails to report as required by KRS 136.130 and 136.140 on or before April 30 of each year, or May 30 if the Department of Revenue has granted the corporation an extension, the Department of Revenue shall ascertain the required facts and values in such manner an…

(1) The Department of Revenue shall determine the fair cash value of the operating property of a domestic public service corporation as a unit. The fair cash value of the operating property shall be equalized. (2) The Department of Revenue shall determine the fair cash value of t…

The Department of Revenue shall allocate the assessed value of the operating property in this state among the counties, cities, and other taxing districts. The location of operating property and the proportion which the length of line or route operated in such taxing district bea…

taxes -- Payment of fee by any district which has value certified by department. (1) The Department of Revenue shall, immediately after fixing the assessed value of the operating property and other property of a public service corporation for taxation, notify the corporation of t…

As used in KRS 136.1801 to 136.1806: (1) "Corporation" means any corporation, company, association, partnership, limited liability company, limited liability partnership, other business association, or person operating any watercraft for commercial purposes in the Commonwealth; (…

determination. (1) Notwithstanding KRS 132.486, the watercraft of any corporation operating within this state, or partly within this state and partly within other states, shall be assessed by the department as of January 1 each year. (2) The department shall have the sole power t…

filed with department. On or before May 15, 2009, and each May 15 thereafter, each corporation operating watercraft within this state during the previous calendar year shall file on forms prescribed by the department, a detailed description of all watercraft it operated as of Jan…

Distribution of tax receipts -- Administrative fee. (1) The department shall notify the corporation of the assessed value of its watercraft each year, as soon as possible after rates set by local authorities are provided to the department. The corporation shall have sixty (60) da…

(1) As used in this section, "base collections" means actual collections received from property taxes assessed on watercraft for the 2007 calendar year. It shall not include collections for assessments for any other year. (2) The department shall determine for each local taxing d…

The taxes levied by KRS 136.1801 to 136.1806 are taxes on the watercraft only. The taxes levied by KRS 136.1801 to 136.1806 shall be in addition to any other taxes levied by state or local jurisdictions on any corporation.

operation is partly within this state. The provisions of this section shall apply to assessments made prior to January 1, 2007. (1) Notwithstanding the provisions of KRS 132.487, trucks, trailers, tractors, semitrailers, and buses of any person, corporation, partnership, or any o…

On or before April 15, 1991, and prior to January 1, 2007, each person, corporation, partnership, or other business association owning or operating trucks, tractors, trailers, semitrailers, and buses whose route or system is partly within this state and partly within another stat…

Effect of appeal on payment of taxes -- Collection of state taxes -- Aggregate local rate to be set annually -- Distribution. The provisions of this section shall apply to assessments made prior to January 1, 2007. (1) The Department of Revenue shall immediately, after fixing the…

partly outside Kentucky -- Fee to replace ad valorem tax -- Determination of value and fee -- Collection and distribution -- Protest. (1) Notwithstanding KRS 132.487, any truck, tractor, or bus which is operated on a route or as part of a system that is partly within and partly o…

(1) The superintendent of schools in each district in which any individual, group of individuals or corporation, operates public utility or other franchise taxpaying property assessed under KRS 136.120 shall, on or before the first day of January, 1957, furnish to the county cler…

The assessment of railroad bridges spanning any river that constitutes a boundary of the state shall be allocated to the counties in which they are located, and the local tax derived therefrom shall be applied to each city, county, or taxing district in which the bridges are loca…

determination -- Notice. (1) Every federally or state chartered savings and loan association, savings bank, and other similar institutions operating solely in Kentucky shall, during January of each year, file with the Department of Revenue a report containing such information and…

-- Savings and loan associations subject to corporation income tax and limited liability entity tax after January 1, 2021 -- Short-year returns. (1) Beginning January 1, 2021, the savings and loan tax under KRS 136.290, 136.300, and 136.310 shall no longer apply to savings and lo…

against dividends. (1) By July 1 succeeding the filing of the report provided for in KRS 136.290, each financial institution included in subsection (1) of KRS 136.290 shall pay directly into the State Treasury a tax of one dollar ($1) for each one thousand dollars ($1,000) paid i…

banks, and similar institutions. (1) Every federally or state chartered savings and loan association, savings bank, and other similar institution authorized to transact business in this state, with property and payroll within and without this state, shall, during January of each …

taxes -- State and local rates. (1) Each life insurance company incorporated under the laws of and doing business in Kentucky shall value as of January 1 and report to the Department of Revenue by April 1 each year, on forms prescribed by the Department of Revenue, the following:…

(1) Every life insurance company doing business in this state, other than fraternal assessment life insurance companies, shall, by March 1 of each year, return to the Department of Revenue a statement under oath of all premium receipts on business done in this state during the pr…

companies -- Time of filing. Beginning with calendar year 2000, every life insurance company incorporated under the laws of and doing business in Kentucky shall make an irrevocable election whether to be taxed under the provisions of KRS 136.320 or 136.330. For insurance companie…

(1) Every stock insurance company, other than life, doing business in this state shall, on or before the first day of March of each year, return to the Department of Revenue a statement under oath of all amounts paid to the company or its representative, whether designated as pre…

(1) All mutual companies other than life doing business under this law shall pay to the Department of Revenue on or before the first day of March in each year, a tax of two percent (2%) of all amounts paid to the company or its representative, whether designated as premiums or ot…

fire prevention and insurance laws. Every stock insurer other than life doing business in this state shall pay to the Department of Revenue on or before the first day of March of each year, for the purpose of defraying the expenses authorized by KRS Chapter 227, and KRS Chapter 3…

Additional tax on premiums of stock insurers. Each attorney, for the exchange of reciprocal or interinsurance contracts, under KRS Chapter 304, shall pay to the Department of Revenue on or before March 1 of each year a tax of two percent (2%) of the gross premiums or deposits col…

(1) Any company whose tax, as provided in KRS 136.320, 136.330, 136.340, 136.350, 136.370, or 304.3-270 was five thousand dollars ($5,000) or more in the previous year shall file a declaration of estimated tax. (2) The tax due shall be paid in three (3) installments, one-third (1…

For calendar years beginning on or after January 1, 2028, but before January 1, 2032, a taxpayer incurring eligible rehabilitation expenses shall be allowed a refundable, transferable credit against the taxes imposed by KRS 136.320, 136.330, 136.340, 136.350, 136.370, 136.390, or…

(Effective July 1, 2027) (1) For purposes of the credit permitted by KRS 154.20-195, if a taxpayer is entitled to more than one (1) of the tax credits allowed against the taxes imposed by KRS 136.320, 136.330, 136.340, 136.350, 136.370, 136.390, and 304.3-270, the priority of app…

In the event any insurer dissolves or retires from this state, either voluntarily or involuntarily, during any calendar year, the dissolution or retirement shall not defeat or excuse the filing of reports and assessment and collection of taxes imposed by KRS 136.330 to 136.395, 2…

(1) All associations of underwriters authorized under KRS 304.3-040, 304.3-140, 304.28-010, 304.28-030, 304.28-040, and 304.28-050, and their representatives, shall make the same reports as are required of foreign stock insurance companies and their representatives transacting th…

(1) (a) Every domestic, foreign, or alien insurer, other than life and health insurers, which is either subject to or exempted from Kentucky premium taxes as levied pursuant to the provisions of either KRS 136.340, 136.350, 136.370, or 136.390, shall charge and collect a surcharg…

No tax shall be imposed upon or measured by the premiums paid to or received by a hospital service corporation, a medical service plan corporation, a dental service plan corporation, or a domestic mutual insurer against the risk or cost of medical and/or surgical care organized u…

Every bail bondsman doing business in this Commonwealth shall, on or before the first day of March of each year, return to the Department of Revenue a statement of all amounts paid to him or his representatives, as premiums for bail bonds written in the courts of this Commonwealt…

As used in KRS 136.500 to 136.575, unless the context requires otherwise: (1) "Billing address" means the location indicated in the books and records of the financial institution, on the first day of the taxable year or the date in the taxable year when the customer relationship …

1, 2021. Every financial institution regularly engaged in business in this Commonwealth at any time during the taxable year as determined under KRS 136.520 shall pay an annual state franchise tax for each taxable year or portion of a taxable year prior to January 1, 2021, to be m…