Section 132.030 - Financial institution deposit tax(1) Every person having a deposit in any financial institution, as defined in KRS 136.500, on January 1 of any year shall pay an annual tax to the state equal to one-thousandth of one percent (0.001%) upon the amount of the deposit, and no deduction shall be made for any indebtedness. The deposit tax shall be paid to the department by the financial institution with which the deposit is made, as the agent of the depositor, on or before March 1 following the date of the report provided for in KRS 132.040.(2) No other tax shall be assessed by the state or any county, city, or other taxing district on the deposits or against the depositor on account of the deposits, except as provided in KRS 136.575.Effective:6/20/2005
Amended 2005, Ky. Acts ch. 85, sec. 172, effective6/20/2005. -- Amended 1996, Ky. Acts ch. 254, sec. 23, effective 7/15/1996. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 315, effective 7/13/1990. -- Amended 1960 Ky. Acts ch. 186, Art. I, sec. 1, effective 6/16/1960. -- Amended 1949 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective 10/1/1942, from Ky. Stat. secs. 4019a-1, 4019a-2.