{"data":{"id":"us-ky/krs-91.640","jurisdiction":"us-ky","citation":"KRS 91.640","heading":"Value of capital, how determined.","body":"(1) Each company or individual subject to assessment under KRS 91.620 or 91.630\nshall, between September 1 and October 1 each year, make and deliver to the city\nassessor a statement verified by its president, cashier, secretary, treasurer, manager,\nor other chief officer or agent, in such form as the city assessor prescribes, showing\nthe following facts:\n(a) The name and principal place of business of the company or individual.\n(b) The kind of business engaged in.\n(c) The amount of capital stock, preferred and common, and the number of shares\nof each.\n(d) The amount of stock paid up, and the par and real value thereof.\n(e) The highest price at which its stock was sold at a bona fide sale within twelve\n(12) months next before September 1 of the year in which  the statement is\nrequired to be made.\n(f) The amount of surplus funds and undivided profits, and the value of all other\nassets.\n(g) The total amount of indebtedness as principal.\n(h) The amount of gross and net earnings or income, including interest on\ninvestments and income from all other sources, for twelve (12) months next\npreceding September 1 of the year in which the statement is required.\n(i) The amount and kind of tangible property, and where situated, assessed or\nliable to assessment, and its f air cash value, estimated at the price it would\nbring at a fair voluntary sale.\n(j) Such other facts as the city assessor requires.\n(2) If the company or individual does business outside the city as well as in the city, the\nstatement shall show, in addit ion to the facts required by subsection (1) of this\nsection, the gross and net income or earnings received on business done in the city,\nand the entire gross receipts of the company or individual on business done in the\ncity and elsewhere, during the twelv e (12) months next before September 1 of the\nyear in which the assessment is required to be made. In cases where any of the facts\nrequired by this subsection cannot be given correctly, or where they will not afford\nany valuable information in determining t he value of the capital stock to be\nassessed, the city assessor may excuse the officer from giving such information.\n(3) From the statement required by this section and from other evidence he may have,\nthe city assessor shall fix the value of the capital stock of the company or\nindividual, and from the amount so fixed shall deduct the assessed value of all his\nor its tangible property. The remainder shall be the value of the capital stock subject\nto city taxation, if the company or individual does business  entirely within the city.\nIf the company or individual does business outside the city as well as in the city, the\ncity assessor shall, after fixing the value of the entire capital stock, determine the\nproportion which the gross receipts from business done in the city within the twelve\n(12) months next before September 1 of the year in which the assessment is made\nbears to the entire gross receipts within the same twelve (12) months. The same\nproportion of the value of the entire capital stock, less the ass essed value of all the\ntangible property of the company or individual assessed or liable to assessment,\nshall be the value of the capital stock subject to city taxation.","path":["KRS Chapter 91"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=25541","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:49Z","sha256":"71884dbe1510cc24ab97f8def48f29a1da779cd2ea2180256109b78e041d1fe0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-91.630","next":"us-ky/krs-91.650"},"notice":"GroundRules: Original legal text. Not legal advice."}