136.510 Rate of franchise tax -- Minimum tax. (1) The franchise tax imposed by KRS 136.505 shall be at the rate of one and one -tenth percent (1.1%) of net capital as determined by KRS 136.515 after apportionment, if applicable, under KRS 136.525. (2) Each financial institution regularly engaged in busines s in this Commonwealth shall pay a minimum tax of three hundred dollars ($300) per year. Effective: July 15, 1996 History: Created 1996 Ky. Acts ch. 254, sec. 4, effective July 15, 1996.
Kentucky Legal Code