{"data":{"id":"us-ky/krs-138.447","jurisdiction":"us-ky","citation":"KRS 138.447","heading":"Election for exemption from KRS 138.330 -- Filing of financial instrument","body":"-- Certification of amount of gasoline and special fuels tax due.\n(1) A dealer may elect to be exempted from the provisions of KRS 138.330, subject to\nthe following provisions:\n(a) An election for exemption shall be made on an annual basis and shall be for a\ncalendar year;\n(b) At the conclusion of the year, the election for exemption shall continue for the\nnext calendar year unless the dealer notifies the Department of Revenue of the\ndealer's intention to void the election for exemption by January fifteenth of the\nnext calendar year; and\n(c) If the election for exemption is voided, the provisions of KRS 138.330\nimmediately apply.\n(2) (a) A dealer electing to be exempted from the p rovisions of KRS 138.330 shall\nfile with the department a financial instrument in an amount not to exceed two\n(2) months' estimated liability, as calculated by the department, or five\nthousand dollars ($5,000), whichever is greater.\n(b) The financial instrument shall be on a form and with a surety to do business in\nthis state.\n(c) The dealer shall be the principal obligor and the state the obligee.\n(d) The financial instrument shall be conditioned upon the prompt filing of true\nreports and the payment by the dealer to the State Treasurer of all gasoline and\nspecial fuel excise taxes now or hereafter imposed by the state, together with\nall penalties and interest thereon, and generally upon faithful compliance with\nthe provisions of KRS 138.210 to 138.340.\n(3) (a) In addition to the provisions of KRS 138.210 to 138.340 the dealer shall\ncertify to the department no later than the fifteenth day of each month the\namount of gasoline and special fuels tax due the Commonwealth by the\ntwenty-fifth day of that month.\n(b) The certification shall be submitted via an electronic method acceptable by\nboth the dealer and the department.\n(c) By certifying the amount of tax which is to be remitted to the department, the\ndealer agrees to initiate an Automated Clearing House cred it transaction to\nelectronically transfer the amount of tax from the dealer's account to the\nKentucky State Treasurer on the twenty-fifth day of that month.\n(d) If the dealer fails to certify the amount of tax collected as prescribed by this\nsection or doe s not perform the electronic fund transfer, the department may\nimmediately make demand on the financial instrument and revoke the license\nof the dealer notwithstanding the provisions of KRS 138.340.","path":["KRS Chapter 138"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28745","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:30Z","sha256":"91f3bbdf3e41c5ed38218c20e508ea7daa16b09250f787c3dd59064c07b5a069","source_id":"us-ky","stale":false,"prev":"us-ky/krs-138.446","next":"us-ky/krs-138.448"},"notice":"GroundRules: Original legal text. Not legal advice."}