{"data":{"id":"us-ky/krs-136.300","jurisdiction":"us-ky","citation":"KRS 136.300","heading":"Rate and payment of tax -- Exemption from other taxes -- Charging","body":"against dividends.\n(1) By July 1 succeeding the filing of the report provided for in KRS 136.290, each\nfinancial institution included in subsection (1) of KRS 136.290 shall pay directly\ninto the State Treasury a tax of one dollar ($1) for each one thousand dollars\n($1,000) paid in on its capital stock as fixed in KRS 136.290. The individual\nshareholders shall not be required to list their shares for taxation for any purpose.\nAny financial institution included in subsection (1) of KRS 136.290 shall not be\nrequired to pay local taxes upon its capital stock, surplus, undivided profits, notes,\nmortgages, or other credits, and the tax provided by this section shall be in lieu of\nall taxes for state purposes on intangible property of the institution. Failure to make\nreports and pay taxes as provided in this section and in KRS 136.290 shall subject\nthe institution to the same penalties imposed for such failure on the part of the other\ncorporations.\n(2) If a financial institution included in subsection (1) of KRS 136.290 so elects, it may\ndeduct the taxes imposed in subsection (1) of this section from the dividends paid or\ncredited to a nonborrowing shareholder.","path":["KRS Chapter 136"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28547","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:27Z","sha256":"d5ad1ffa085aa2811237e4d429f9f8cbeb28ed1885c3159ca2c020b98b7eb882","source_id":"us-ky","stale":false,"prev":"us-ky/krs-136.291","next":"us-ky/krs-136.310"},"notice":"GroundRules: Original legal text. Not legal advice."}