Kentucky Statutes 136.510 – Rate of franchise tax — Minimum tax
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(1) The franchise tax imposed by KRS § 136.505 shall be at the rate of one and one-tenth percent (1.1%) of net capital as determined by KRS § 136.515 after apportionment, if applicable, under KRS § 136.525.
(2) Each financial institution regularly engaged in business in this Commonwealth shall pay a minimum tax of three hundred dollars ($300) per year.
Effective: July 15, 1996
History: Created 1996 Ky. Acts ch. 254, sec. 4, effective July 15, 1996.
(2) Each financial institution regularly engaged in business in this Commonwealth shall pay a minimum tax of three hundred dollars ($300) per year.
Terms Used In Kentucky Statutes 136.510
- Year: means calendar year. See Kentucky Statutes 446.010
Effective: July 15, 1996
History: Created 1996 Ky. Acts ch. 254, sec. 4, effective July 15, 1996.