If any tax imposed by KRS § 136.330 to KRS § 136.395, 299.530 and 304.4-030, whether assessed by the department, or the taxpayer, or any installment or portion of any tax is not paid on or before the date prescribed for its payment, there shall be collected interest upon the unpaid amount at the tax interest rate as defined in KRS § 131.010(6) from the date prescribed for its payment until payment is actually made to the department.
Effective: June 20, 2005

Terms Used In Kentucky Statutes 136.980

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • 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: Amended 2005 Ky. Acts ch. 85, sec. 338, effective June 20, 2005. — Amended
1992 Ky. Acts ch. 403, sec. 4, effective July 14, 1992. — Amended 1984 Ky. Acts ch.
113, sec. 2, effective July 13, 1984. — Amended 1982 Ky. Acts ch. 452, sec. 11, effective July 1, 1982. — Amended 1972 Ky. Acts ch. 203, sec. 15. — Created 1966
Ky. Acts ch. 187, Part IV, sec. 14.
Legislative Research Commission Note. This section was amended by 1984 Acts Chapter 111, § 75, and 1984 Acts Chapter 113, § 2, which conflict and cannot be compiled together. Pursuant to KRS § 7.136, the amendment in Chapter 113, § 2, the non-revisory Act, prevails.

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