91.270 Taxes based on income, licenses and franchises -- Payment and collection -- Disposition of revenue -- Penalty -- Lien. - Kentucky Statutes

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91.270 Taxes based on income, licenses and franchises -- Payment and collection -- Disposition of revenue -- Penalty -- Lien. (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.