KRS 141.044: Payment of estimated tax by corporations and pass -through entities --

Refund of taxes -- Administrative regulations.

(1) For taxable years beginning on or after January 1, 2019, every corporation and

limited liability pass -through entity su bject to taxation under KRS 141.040 and

141.0401 shall make estimated tax payments if the taxes imposed by KRS 141.040

and 141.0401 for the taxable year can reasonably be expected to exceed five

thousand dollars ($5,000).

(2) Estimated tax payments for the taxes imposed under KRS 141.040 and 141.0401

shall be made at the same time and calculated in the same manner as estimated tax

payments for federal income tax purposes under 26 U.S.C. sec. 6655, except:

(a) The estimated liabilities for the taxes imposed under KRS 141.040 and

141.0401 shall be used to make the estimated payments;

(b) Any provisions in 26 U.S.C. sec. 6655 that apply for federal tax purposes but

do not apply to the taxes imposed under KRS 141.040 and 141.0401;

(c) The addition to tax identif ied by 26 U.S.C. sec. 6655(a) shall instead be

considered a penalty under KRS 131.180;

(d) The tax interest rate identified under KRS 131.183 shall be used to determine

the underpayment rate instead of the rate under 26 U.S.C. sec. 6621;

(e) Any waiver of penalties shall be performed as provided in KRS 131.175; and

(f) 1. A refund of taxes collected under this section shall include interest at the

tax interest rate as defined in KRS 131.010.

2. Interest shall not begin to accrue until ninety (90) days after the latest of:

a. The due date of the return;

b. The date the return was filed;

c. The date the tax was paid;

d. The last day prescribed by law for filing the return; or

e. The date an amended return claiming a refund is filed.

3. A refund shall not be made of any estimated tax paid unless:

a. i. An application is made by the taxpayer or officer authorized

to make the request on a form prescribed by the department;

and

ii. It is determined that the estimated tax was paid to the

department in error; or

b. A return is filed as required by this chapter.

(3) The department may promulgate administrative regulations in accordance with

KRS Chapter 13A to implement this section.