KRS 67.755: Quarterly estimated tax payments.

(1) Every business entity, other than a sole proprietorship, subject to a net profits, gross

receipts, or occupational license tax levied by a tax district shall make quarterly

estimated tax payments on or before the fifteenth day of the fourth, sixth, ninth, and

twelfth month of each taxable year if the tax liability for the taxable year exceeds

five thousand dollars ($5,000).

(2) The quarterly estimated tax payments required under subsection (1) of this section

shall be based on the lesser of:

(a) Twenty-two and one -half percent (22.5%) of the current taxable year tax

liability;

(b) Twenty-five percent (25%) of the preceding full year taxable year tax liability;

or

(c) Twenty-five percent (25%) of the average tax liability for the three (3)

preceding full year taxable years' tax liabilities if the tax liability for any of the

three (3) preceding full taxable years exceeded twenty thousand dollars

($20,000).

(3) Any business entity that fails to submit the minimum quarterly payment required

under subsection (2) of this section by the due date for the quarterly payment shall

pay an amount equal to twelve percent (12%) per annum simple interest on the

amount of the quarterly payment required under subsection (2) of this section from

the earlier of:

(a) The due date for the quarterly payment until the time when the aggregate

quarterly payments submitted for the taxable year equal the minimum

aggregate payments due under subsection (2) of this section; or

(b) The due date of the annual return.

A fraction of a month is counted as an entire month.

(4) The provisions of this section shall not apply to any business entity's first full or

partial taxable year of doing business in the tax district or any first taxable year in

which a business entity's tax liability exceeds five thousand dollars ($5,000).

(5) The provisions of this section shall not apply unless adopted by the tax district.