Kentucky Statutes 160.615 – Taxes payable, when — Extension
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(1) The school taxes authorized by KRS § 160.613 and KRS § 160.614 shall be due and payable monthly and shall be remitted to the department on or before the twentieth day of the next succeeding calendar month.
(2) On or before the twentieth day of the month following each calendar month, a return for the preceding month shall be filed with the department in the form prescribed by the department, together with any tax due.
(3) For purposes of facilitating the administration, payment or collection of the taxes levied by KRS § 160.613 and 160.614, the department, in consultation with the impacted school district, may permit or require returns or tax payments for periods other than those prescribed in subsections (1) and (2) of this section.
(4) The department may, upon written request received on or prior to the due date of the return or tax, for good cause satisfactory to the department, extend the time for filing the return or paying the tax for a period not to exceed thirty (30) days.
(5) Any person to whom an extension is granted and who pays the tax within the period for which the extension is granted shall pay, in addition to the tax, interest at the tax interest rate as defined in KRS § 131.010(6) from the date on which the tax would otherwise have been due.
Effective: March 6, 2006
History: Amended 2006 Ky. Acts ch. 6, sec. 21, effective March 6, 2006. — Amended
2004 Ky. Acts ch. 79, sec. 4, effective July 1, 2005. — Repealed and reenacted 1990
Ky. Acts ch. 476, Pt. V, sec. 463, effective July 13, 1990. — Created 1966 Ky. Acts ch. 24, Part III, sec. 10.
(2) On or before the twentieth day of the month following each calendar month, a return for the preceding month shall be filed with the department in the form prescribed by the department, together with any tax due.
Terms Used In Kentucky Statutes 160.615
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Month: means calendar month. See Kentucky Statutes 446.010
(3) For purposes of facilitating the administration, payment or collection of the taxes levied by KRS § 160.613 and 160.614, the department, in consultation with the impacted school district, may permit or require returns or tax payments for periods other than those prescribed in subsections (1) and (2) of this section.
(4) The department may, upon written request received on or prior to the due date of the return or tax, for good cause satisfactory to the department, extend the time for filing the return or paying the tax for a period not to exceed thirty (30) days.
(5) Any person to whom an extension is granted and who pays the tax within the period for which the extension is granted shall pay, in addition to the tax, interest at the tax interest rate as defined in KRS § 131.010(6) from the date on which the tax would otherwise have been due.
Effective: March 6, 2006
History: Amended 2006 Ky. Acts ch. 6, sec. 21, effective March 6, 2006. — Amended
2004 Ky. Acts ch. 79, sec. 4, effective July 1, 2005. — Repealed and reenacted 1990
Ky. Acts ch. 476, Pt. V, sec. 463, effective July 13, 1990. — Created 1966 Ky. Acts ch. 24, Part III, sec. 10.