140.210 Payment of taxes -- Discount -- Interest -- Bond for payment.

162 words·~1 min read·/ky/chapter-140/140-210

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

(1)All taxes imposed by this chapter, unless otherwise provided in this chapter, shall

be due at the death of the decedent and shall be payable to the Department of

Revenue within eighteen

(18)months thereafter. If they are paid within nine

months, a discount of five percent (5%) shall be allowed, and if they are paid within

eighteen

(18)months, no interest shall be charged and collected thereon. If the taxes

due are not paid within eighteen

(18)months, interest at the tax interest rate as

defined in KRS 131.010(6) shall be paid from the expiration of the eighteen

months until payment is actually made to the department.

(2)In all cases where the personal representatives or trustees do not pay the taxes

within eighteen

(18)months from the death of the decedent, they shall be required

to give bond, in the form and to the effect prescribed by the department, for the

payment of the taxes and interest.