Ky. Rev. Stat. Ann. § 136.510 - Rate of Franchise Tax -- Minimum Tax.

136.510 - Rate of Franchise Tax -- Minimum Tax.
136.506 - Inapplicability of Krs 136.505 After January 1, 2021 -- Financial Institutions Subject to Corporation Income Tax, Limited Liability Entity Tax, and Applicable Local Government Franchise Taxes After January 1, 2021 -- Short-year Returns.136.515 - Net Capital Determination -- Effect of Changes in Identity, Form, or Place of Organization -- Effect of Combination of Financial Institutions.

136.510 Rate of franchise tax --Minimum tax.

  1. The franchise tax imposed by KRS 136.505 shall be at the rate of one and one-tenth percent (1.1%) of net capital as determined by KRS 136.515 after apportionment, if applicable, under KRS 136.525.
  2. Each financial institution regularly engaged in business in this Commonwealth shall pay a minimum tax of three hundred dollars ($300) per year.

Effective: July 15, 1996

History:

Created 1996 Ky. Acts ch. 254, sec. 4, effective July 15, 1996.

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