{"data":{"id":"us-ky/krs-136.525","jurisdiction":"us-ky","citation":"KRS 136.525","heading":"Apportionment of net capital for financial institutions with taxable","body":"business activity within and without the Commonwealth.\n(1) A financial institution whose business activity is taxable both within and without\nthis Commonwealth shall apportion its ne t capital pursuant to the provisions of this\nsection.\n(2) Net capital shall be apportioned to this Commonwealth by multiplying total net\ncapital by the apportionment percentage. The apportionment percentage is\ndetermined by adding together the financial in stitution's receipts factor as\ndetermined under the provisions of KRS 136.530, property factor as determined\nunder the provisions of KRS 136.535, and payroll factor as determined under the\nprovisions of KRS 136.540 and dividing the sum by three (3). If one  (1) of the\nfactors is missing, the two (2) remaining factors are added and the sum is divided by\ntwo (2). If two (2) of the factors are missing, the remaining factor is the\napportionment percentage. A factor is missing if both its numerator and\ndenominator are zero (0), but it is not missing merely because the numerator is zero\n(0).\n(3) Each factor shall be calculated by the method of accounting used by the financial\ninstitution for the taxable year.\n(4) If the apportionment provisions of KRS 136.500 to 13 6.575 do not fairly represent\nthe extent of the financial institution's business activity in this Commonwealth, the\nfinancial institution may petition for or the department may require, in respect to all\nor any part of the financial institution's business activity, if reasonable:\n(a) Separate accounting;\n(b) The exclusion of any one (1) or more of the factors;\n(c) The inclusion of one (1) or more additional factors which will fairly represent\nthe financial institution's business activity in this Commonwealth; or\n(d) The employment of any other method to effectuate an equitable apportionment\nof the financial institution's net capital.","path":["KRS Chapter 136"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28570","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:27Z","sha256":"c402715bd0a65e87d928d887c4b924e7068eedb74c98fb8e18a73267bf10f6a1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-136.520","next":"us-ky/krs-136.530"},"notice":"GroundRules: Original legal text. Not legal advice."}