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142.402 Transient room tax due monthly -- Returns -- Extension for filing -Assessments -- Refund or credit -- Interest and penalties due.
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On or before the twentieth day of every month, a taxpayer subject to the tax
provided in KRS 142.400 shall submit a return and the tax due for the
preceding month to the Department of Revenue, in a form prescribed by the
department. To facilitate administration, the department may permit or require
returns or tax payments for other periods. Upon written request received on or
before the due date, the department may extend the filing or tax payment due
date up to thirty (30) days.
The Department of Revenue shall examine and audit each return as soon as
practicable after it is received. If the tax computed by the department is greater
than the tax paid by the taxpayer, the department shall assess the excess
within four (4) years from the filing deadline, including any extensions granted.
If the taxpayer failed to file a return or filed a fraudulent return, then the excess
may be assessed at any time.
A taxpayer may request a refund or credit for any overpayment of tax under
KRS 142.400 within four (4) years after the tax due date, including any
extensions granted. The request shall be made to the Department of Revenue
in writing and shall state the amount requested, the applicable period, the basis
for the request, and any other information the department reasonably requires.
Any tax not paid on or before its due date shall bear interest at the tax interest
rate provided in KRS 131.183 from the date due until the date of payment. If an
extension is granted, and the tax is not paid within the extension period, then
interest shall accrue from the original due date.
Effective:June 1, 2005
History: Created 2005 Ky. Acts ch. 168, sec. 68, effective June 1, 2005.
Legislative Research Commission Note (6/1/2005). 2005 Ky. Acts chs. 11, 85, 95,
97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory
references to agencies and officers whose names have been changed in 2005
legislation confirming the reorganization of the executive branch. Such a
correction has been made in this section.
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