Kentucky Statutes 91.270 – Taxes based on income, licenses and franchises — Payment and collection — Disposition of revenue — Penalty — Lien
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(1) The treasurer and secretary of the sinking fund shall collect all taxes on personal property based on income, licenses and franchises in lieu of an ad valorem tax, and shall pay them monthly to the director of finance, who shall give a receipt therefor. The treasurer and secretary shall furnish monthly to the director of finance a statement showing what persons have, during the previous month, paid such taxes, the amount paid by each, and the total amount paid by him to the director of finance.
(2) The revenue derived from taxes based on income, licenses and franchises in lieu of an ad valorem tax shall be paid at such time in the fiscal year, and apportioned and distributed, as may be fixed by ordinance, for the same purposes as the revenue derived from the ad valorem tax. In default of the payment of such taxes at the time fixed by ordinance, a penalty of five percent (5%) shall be added thereto and interest on the amount of such taxes shall be computed and paid by the delinquent from that date at the rate of six percent (6%) per annum until paid.
(3) A lien superior to all other liens, except the lien for state taxes, whether such liens were acquired before or after the maturity of the taxes referred to in this section, shall exist in favor of the city from the date the taxes are due, for the amount of the taxes, interest and penalties, upon all the real and personal property of the delinquent taxpayer. The city may enforce the lien by action in the name of the city in the Circuit Court, and in that action may also obtain a personal judgment against the delinquent taxpayer for the tax, penalties, interest, and costs of suit.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2980, 2984b-1.
(2) The revenue derived from taxes based on income, licenses and franchises in lieu of an ad valorem tax shall be paid at such time in the fiscal year, and apportioned and distributed, as may be fixed by ordinance, for the same purposes as the revenue derived from the ad valorem tax. In default of the payment of such taxes at the time fixed by ordinance, a penalty of five percent (5%) shall be added thereto and interest on the amount of such taxes shall be computed and paid by the delinquent from that date at the rate of six percent (6%) per annum until paid.
Terms Used In Kentucky Statutes 91.270
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- City: includes town. See Kentucky Statutes 446.010
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Month: means calendar month. See Kentucky Statutes 446.010
- Personal property: All property that is not real property.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) A lien superior to all other liens, except the lien for state taxes, whether such liens were acquired before or after the maturity of the taxes referred to in this section, shall exist in favor of the city from the date the taxes are due, for the amount of the taxes, interest and penalties, upon all the real and personal property of the delinquent taxpayer. The city may enforce the lien by action in the name of the city in the Circuit Court, and in that action may also obtain a personal judgment against the delinquent taxpayer for the tax, penalties, interest, and costs of suit.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2980, 2984b-1.