{"data":{"id":"us-ky/krs-136.060","jurisdiction":"us-ky","citation":"KRS 136.060","heading":"Corporation organization tax.","body":"(1) Every corporation incorporated under the laws of this state, having a capital stock\ndivided into shares, shall pay into the State Treasury, at the time of incorporation,\nan organization tax based upon the number of shares authorized by the articles of\nincorporation, at the following rates: one cent ($0.01) for each share authorized up\nto and including twenty thousand (20,000) shares, one -half cent ($0.005) for each\nshare in excess of twenty thousand (20,000) shares and up to and including two\nhundred thousa nd (200,000) shares, and one -fifth cent ($0.002) for each share in\nexcess of two hundred thousand (200,000) shares.\n(2) Upon the filing of an amendment to articles of incorporation changing the\nauthorized number of shares, the tax that would be due upon th e number of shares\nauthorized by the articles of incorporation as so amended, at the rates set forth in\nsubsection (1) of this section, shall be computed, and if the tax as so computed\nexceeds the amount of tax paid on the basis of the number of shares aut horized by\nthe articles prior to the amendment, the excess tax shall be paid at the time the\namendment is filed.\n(3) Every corporation that has not, prior to July 1, 1946, become liable for the payment\nof a Kentucky organization tax upon any or all of its capital stock, and that by\namendment of its articles of incorporation changes its name, increases its powers,\nenlarges its scope, or prolongs its corporate life, shall, upon the filing of the\namendment, pay the tax as provided in subsection (1) of this sec tion upon its entire\ncapital stock, or so much thereof as has not theretofore borne the tax.\n(4) A consolidated or merged corporation formed under the laws of this state shall not\nbe required to pay any organization tax on the number of shares of capital s tock on\nwhich the organization tax has been paid by the constituent corporations prior to the\nconsolidation or merger, but the organization tax shall be paid on any increase of\nthe number of shares of capital stock of the consolidated corporation over the\naggregate number of shares of the constituent corporations prior to the consolidation\nor merger. When a foreign corporation consolidates or merges with one (1) or more\ncorporations of this state, the organization tax shall be paid on the number of shares\nof capital stock of the foreign corporation.\n(5) No corporation subject to the tax imposed by this section shall have or exercise any\ncorporate powers until the tax has been paid, and upon payment it shall file a\nstatement thereof with the Secretary of Stat e. No corporation required to pay a tax\nunder any of the provisions of this section shall in any event pay a less sum therefor\nthan ten dollars ($10).","path":["KRS Chapter 136"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28495","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:26Z","sha256":"b0d10f5edf86c5c9983d8544e86e9ac88ac25f0b531549430765a7546163bd92","source_id":"us-ky","stale":false,"prev":"us-ky/krs-136.050","next":"us-ky/krs-136.070"},"notice":"GroundRules: Original legal text. Not legal advice."}