Kentucky Statutes 132.030 – Financial institution deposit tax
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(1) Every person having a deposit in any financial institution, as defined in KRS
136.500, on January 1 of any year shall pay an annual tax to the state equal to one- thousandth of one percent (0.001%) upon the amount of the deposit, and no deduction shall be made for any indebtedness. The deposit tax shall be paid to the department by the financial institution with which the deposit is made, as the agent of the depositor, on or before March 1 following the date of the report provided for in KRS § 132.040.
(2) No other tax shall be assessed by the state or any county, city, or other taxing district on the deposits or against the depositor on account of the deposits, except as provided in KRS § 136.575.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 172, effective June 20, 2005. — Amended
1996 Ky. Acts ch. 254, sec. 23, effective July 15, 1996. — Repealed and reenacted
1990 Ky. Acts ch. 476, Pt. V, sec. 315, effective July 13, 1990. — Amended 1960
Ky. Acts ch. 186, Art. I, sec. 1, effective June 16, 1960. — Amended 1949 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 1. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4019a-1, 4019a-2.
136.500, on January 1 of any year shall pay an annual tax to the state equal to one- thousandth of one percent (0.001%) upon the amount of the deposit, and no deduction shall be made for any indebtedness. The deposit tax shall be paid to the department by the financial institution with which the deposit is made, as the agent of the depositor, on or before March 1 following the date of the report provided for in KRS § 132.040.
Terms Used In Kentucky Statutes 132.030
- City: includes town. See Kentucky Statutes 446.010
- County: means any county, consolidated local government, urban-county government, unified local government, or charter county government. See Kentucky Statutes 132.010
- Department: means the Department of Revenue. See Kentucky Statutes 132.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Taxing district: means any entity with the authority to levy a local ad valorem tax, including special purpose governmental entities. See Kentucky Statutes 132.010
- Year: means calendar year. See Kentucky Statutes 446.010
(2) No other tax shall be assessed by the state or any county, city, or other taxing district on the deposits or against the depositor on account of the deposits, except as provided in KRS § 136.575.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 172, effective June 20, 2005. — Amended
1996 Ky. Acts ch. 254, sec. 23, effective July 15, 1996. — Repealed and reenacted
1990 Ky. Acts ch. 476, Pt. V, sec. 315, effective July 13, 1990. — Amended 1960
Ky. Acts ch. 186, Art. I, sec. 1, effective June 16, 1960. — Amended 1949 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 1. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4019a-1, 4019a-2.