KRS 132.030 — Financial institution deposit tax

(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 m ade 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.