Kentucky Revised Statutes — Title XI (Revenue and Taxation)

KRS 136.505 — Franchise tax for financial institutions for taxable years prior to January 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 measured by its net capital as determined in KRS 136.515 and, for financial
institutions with business activity that is taxable both within and w ithout this
Commonwealth, apportioned under KRS 136.525.

Last amended: Effective: June 27, 2019 History: Amended 2019 Ky. Acts ch. 196, sec. 10, effective June 27, 2019. -- Amended 2006 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 13, effective June 28, 2006. -- Created 1996 Ky. Acts ch. 254, sec. 3, effective July 15, 1996. Legislative Research Commission Note (6/27/2019). This statute was amended in 2019 Ky. Acts ch. 151, sec. 16 (HB 354) and ch. 196, sec. 10 (HB 458). Although HB 354 was enacted, 2019 Ky. Acts ch. 196, sec . 16 (HB 458) repealed certain sections of t

Source: official text