{"data":{"id":"us-ky/krs-136.073","jurisdiction":"us-ky","citation":"KRS 136.073","heading":"Average net capital tax on open-end registered investment companies.","body":"(1) Every open -end registered investment company organized under the laws of this\nstate and registered under the Investment Company Act of 1940 shall on or before\nthe fifteenth day of the fourth month following the close of each fiscal year, if the\ncompany ope rates on a fiscal year basis or calendar year, file a report on forms\nprescribed by the Department of Revenue and pay directly to the State Treasury a\ntax of two dollars and ten cents ($2.10) for each one thousand dollars ($1,000) of\n\"average net capital\" as computed under subsections (2) and (3) of this section.\n(2) The term \"net capital\" as used in this section means capital stock, surplus, borrowed\nmoneys or any other accounts representing capital of the company less the amount\nof such capital which by said company is invested in Kentucky municipal securities\nwhich are obligations issued by the State of Kentucky, its political subdivisions, and\nthe districts, authorities, agencies and instrumentalities of the state and its political\nsubdivisions, the inte rest on which is exempt from federal and Kentucky income\ntax.\n(3) The term \"average net capital\" as used in this section means the average of the net\ncapital of the company as shown on financial statements of the company as of the\nfirst and last days of th e fiscal or calendar year of the company, whichever is\napplicable.\n(4) The Department of Revenue shall examine and audit each report as soon as\npracticable after each report is received. Failure to make reports and pay taxes as\nprovided in this section shall subject the company to the same penalties imposed for\nsuch failure on the part of other corporations.","path":["KRS Chapter 136"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28501","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:27Z","sha256":"da342ef1304a7e52965d78c8956a8f18ff71a9878a1b80eccd91b72019307eb6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-136.072","next":"us-ky/krs-136.074"},"notice":"GroundRules: Original legal text. Not legal advice."}