138.464 Weekly report to department -- Daily deposit in state depository.

382 words·~2 min read·/ky/chapter-138/138-464

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

(1)The county clerk shall report each Monday to the department all moneys collected

during the previous week, together with a duplicate of all receipts issued by him

during the same period.

(a)For collections prior to August 1, 2010, the clerk shall deposit motor vehicle

usage tax and sales and use tax collections not later than the next business day

following receipt in a Commonwealth of Kentucky, department account in a

bank designated as a depository for state funds. The clerk may be required to

then cause the funds to be transferred from the local depository bank to the

State Treasury in whatever manner and at times prescribed by the

commissioner of the department or his designee.

(b)For collections on or after August 1, 2010, the provisions of KRS 131.155

shall apply.

(3)Failure to forward duplicates of all receipts issued during the reporting period or

failure to file the weekly report of moneys collected within seven

(7)working days

after the report is due shall subject the clerk to a penalty of two and one-half percent

(2.5%) of the amount of moneys collected during the reporting period for each

month or fraction thereof until the documents are filed.

(4)Failure to deposit or, if required, transfer collections as required above shall subject

the clerk to a penalty of two and one-half percent (2.5%) of the amount not

deposited or, if required, not transferred for each day until the collections are

deposited or transferred as required above. The penalty for failure to deposit or

transfer money collected shall not be less than fifty dollars ($50) nor more than five

hundred dollars ($500) per day.

(5)The penalties provided in this section shall not apply if the failure of the clerk is due

to reasonable cause.

(6)The department may in its discretion grant a county clerk a reasonable extension of

time to file his report or make any transfer of deposits as required above. The

extension, however, must be requested prior to the end of the seven

(7)day period

and shall begin to run at the end of said period.

(7)All penalties collected under this provision shall be paid into the State Treasury as a

part of the revenue collected under KRS 138.450 to 138.729 and 139.778.