40-2805. Same; returns and payment of tax; interest for late return. - Kansas Statutes

40-2805

Chapter 40.--INSURANCE Article 28.--TAXATION OF COMPANIES

      40-2805.   Same; returns and payment of tax;interest for late return.(a) Every insurance company subject to taxation under the provisions ofthis act shall pay the tax imposed and make a return thereof under oathto the commissioner of insurance under such rules and regulations and insuch form and manner as the commissioner may by regulation prescribe.

      (b)   The return shall be filed and the tax paid on the same date asthe insurance company's federal income tax return is filed with theinternal revenue service except that in the event saidfederal tax return is filed with the internal revenue service subsequentto the fifteenth day of April, the tax, payable under this act, shallbear interest at the rate per annum prescribed by K.S.A. 79-2968(b),calculated fromthe fifteenth day of April until date of payment. If, subsequent to saidfiling, a change occurs affecting the amount of any tax previouslyimposed thereunder, such change shall be reported, and the necessaryadjustments made, at the time the next return hereunder is filed withthe commissioner of insurance.

      History:   L. 1970, ch. 184, § 5; L. 1980, ch. 308, § 7; July 1.