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 <br>on a fiscal year basis, the reports shall be filed on or before the fifteenth day of the <br>fourth month following the close of each fiscal year. The reports shall cover <br>operations for the preceding calendar or fiscal year, as the case may be. Domestic <br>corporations hereafter incorporated, and foreign corporations hereafter becoming <br>the owners of property or transacting business in this state, shall make their reports <br>to the Department of Revenue on or before the first filing date succeeding their <br>incorporation or succeeding their becoming the owners of property or transacting <br>business in this state, and shall in all respects be subject to the provisions of KRS <br>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 <br>department. If a corporation so changes its basis of reporting, the first report filed <br>on the new filing date shall cover operations for the period between the close of the <br>old accounting period and the close of the new accounting period. The assessment <br>of value shall be computed in the same manner as on any other return, but the tax <br>due shall be computed on that proportionate part of the assessment that the period <br>between the close of the old accounting period and the close of the new accounting <br>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 <br>beginning of the succeeding taxable year, all factors used to determine the <br>corporation license tax assessment shall be computed on the basis of the <br>consolidated accounting records of such corporations.
Effective: June 20, 2005 <br>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 <br>October 1, 1942, from Ky. Stat. secs. 4189-5, 4189-7.
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