136.100 Time of filing reports -- Period covered -- Change of period. - Kentucky Statutes

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136.100 Time of filing reports -- Period covered -- Change of period. (1) If the corporation operates on a calendar year basis, the reports required under KRS 136.090 shall be filed on or before April 15 in each year. If the corporation operates
on a fiscal year basis, the reports shall be filed on or before the fifteenth day of the
fourth month following the close of each fiscal year. The reports shall cover
operations for the preceding calendar or fiscal year, as the case may be. Domestic
corporations hereafter incorporated, and foreign corporations hereafter becoming
the owners of property or transacting business in this state, shall make their reports
to the Department of Revenue on or before the first filing date succeeding their
incorporation or succeeding their becoming the owners of property or transacting
business in this state, and shall in all respects be subject to the provisions of KRS
136.070 to 136.100 the same as corporations already in existence. (2) A corporation may change its reporting period from a calendar year to a fiscal year, or from a fiscal year to a calendar year, by securing written permission from the
department. If a corporation so changes its basis of reporting, the first report filed
on the new filing date shall cover operations for the period between the close of the
old accounting period and the close of the new accounting period. The assessment
of value shall be computed in the same manner as on any other return, but the tax
due shall be computed on that proportionate part of the assessment that the period
between the close of the old accounting period and the close of the new accounting
period bears to the entire twelve (12) month period. (3) In any case where two (2) or more corporations merge, consolidate or otherwise combine into a single corporation after the close of the taxable year, but before the
beginning of the succeeding taxable year, all factors used to determine the
corporation license tax assessment shall be computed on the basis of the
consolidated accounting records of such corporations. Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 300, effective June 20, 2005. -- Amended 1962 Ky. Acts ch. 94, sec. 3. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective
October 1, 1942, from Ky. Stat. secs. 4189-5, 4189-7.