Kentucky Statutes 136.630 – Interest on overdue tax
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In every case, any tax not paid on or before the due date shall bear interest at the tax interest rate as defined in KRS § 131.010(6) from the date due until the date of payment.
Effective: January 1, 2006
History: Created 2005 Ky. Acts ch. 168, sec. 103, effective January 1, 2006.
Legislative Research Commission Note (1/1/2006). 2005 Ky. Acts chs. 11, 85, 95, 97,
98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.
Effective: January 1, 2006
Terms Used In Kentucky Statutes 136.630
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
History: Created 2005 Ky. Acts ch. 168, sec. 103, effective January 1, 2006.
Legislative Research Commission Note (1/1/2006). 2005 Ky. Acts chs. 11, 85, 95, 97,
98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.