# KRS § 136.050: 136.050 Time of payment of corporation, property, and franchise taxes -- Interest -- Penalties

> Kentucky · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.050

## Section

- **Citation:** KRS § 136.050
- **Heading:** 136.050 Time of payment of corporation, property, and franchise taxes -- Interest -- Penalties
- **Jurisdiction:** Kentucky
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** KY Code / Title XI / Chapter 136 / Section 136.050

## Text

136.050 Time of payment of corporation, property, and franchise taxes -- Interest -

- Penalties.

(1) Except where otherwise specially provided, all corporations required to make

reports to the Department of Revenue shall pay all taxes due the state from them

into the State Treasury at the same time as natural persons are required to pay taxes,

and when delinquent shall pay the same rate of interest and penalties as natural

persons who are delinquent.

(2) All state taxes assessed against any corporation under the provisions of KRS

136.120 to 136.200 shall be due and payable as provided in KRS 131.110. All

county, city, school, and other taxes so assessed shall be due and payable thirty (30)

days after notice of the amount of the tax is given by the collecting officer. The

state, county, city, school, and other taxes found to be due on any protested

assessment or portion thereof shall begin to bear legal interest on the sixty-first day

after the Board of Tax Appeals acknowledges receipt of a protest of any assessment

or enters an order to certify the unprotested portion of any assessment until paid,

except that in no event shall interest begin to accrue prior to January 1 following

April 30 of the year in which the report is due. Every corporation so assessed that

fails to pay its taxes when due shall be deemed delinquent, a penalty of ten percent

(10%) on the amount of the tax shall attach, and thereafter the tax shall bear interest

at the tax interest rate as defined in KRS 131.010(6).

## Nearby sections

- [KRS § 136.010 136.010 Definitions for chapter, except KRS 136.500 to 136.575](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.010.md)
- [KRS § 136.012 136.012 "Production credit association" defined](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.012.md)
- [KRS § 136.013 136.013 "Bank for cooperatives" defined](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.013.md)
- [KRS § 136.020 136.020 Assessment of property of corporations](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.020.md)
- [KRS § 136.050 136.050 Time of payment of corporation, property, and franchise taxes -- Interest -- Penalties](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.050.md)
- [KRS § 136.060 136.060 Corporation organization tax](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.060.md)
- [KRS § 136.073 136.073 Average net capital tax on open-end registered investment companies](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.073.md)
- [KRS § 136.076 136.076 Auditing of returns -- Assessment of additional tax](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.076.md)
- [KRS § 136.115 136.115 Definitions for KRS 136.120 to 136.180](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.115.md)
- [KRS § 136.120 136.120 Public service corporation property tax -- Exemptions -- Classification -- Assessment -- Certification](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.120.md)
- [KRS § 136.130 136.130 Reports of all public service corporations -- Extensions](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.130.md)
- [KRS § 136.132 136.132 Report of vehicles owned or operated by public service corporations -- Vehicle assessment certified separately](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.132.md)
- [KRS § 136.140 136.140 Reports of interstate public service corporations](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.140.md)
- [KRS § 136.150 136.150 Ascertainment of facts on failure to report](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.150.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C136_S136.050. Check the current official text before relying on it. Not legal advice.