136.545 Tax returns -- Extension of time for filing.

213 words·~1 min read·/ky/chapter-136/136-545

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)On or before the March 15 following each taxable year, a return for the preceding

taxable year shall be filed with the department in the form and manner prescribed by

the department, together with payment of any tax due.

(2)A return shall be filed by each financial institution.

(3)The return shall show the amount of taxes for the period covered by the return and

other information necessary for the proper administration of KRS 136.500 to

136.575.

(4)The department shall, upon written request received on or prior to the due date of

the return and tax, grant an automatic extension of up to ninety

(90)days for the

filing of returns. An extension of time to file a return does not extend the payment

of tax due, which shall be estimated by the financial institution and paid on or

before the date specified in subsection

(1)of this section.

(5)If the time for filing a return is extended, the financial institution shall pay, as part

of the tax, an amount equal to the tax interest rate as defined in KRS 131.010(6) on

the tax shown due on the return but not previously paid, from the time the tax was

due until the return is actually filed with the department.