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304.99-085 Penalties for violation of KRS 304.10-050, 304.10-170, and 304.10180(1).
(1)
(2)
(3)
(4)
A broker that fails to file an affidavit as provided by KRS 304.10-050 shall be liable
for a penalty fee of one hundred dollars ($100).
A broker that exhibits a pattern of failing to file affidavits as provided by KRS
304.10-050 shall be subject to a penalty fee not less than one thousand dollars
($1,000) or more than five thousand ($5,000), revocation of license, or both, unless
it is shown to the satisfaction of the commissioner that the failure is due to
reasonable cause.
A broker that fails to file a quarterly statement as provided by KRS 304.10-170
shall be liable for a penalty of five hundred dollars ($500).
If any broker fails to remit the tax provided by KRS 304.10-180(1), unless it is
shown to the satisfaction of the commissioner that the failure is due to reasonable
cause, five percent (5%) of the tax found to be due by the commissioner shall be
added to the tax for each thirty (30) days or fraction thereof elapsing between the
due date of the return and the date on which it was filed, but the total penalty shall
not exceed twenty-five percent (25%) of the tax; provided, however, that in no case
shall a penalty be less than five hundred dollars ($500).
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 180, sec. 6, effective July 14, 2018. -- Amended
2012 Ky. Acts ch. 74, sec. 22, effective July 12, 2012. -- Amended 2010 Ky. Acts ch.
24, sec. 1655, effective July 15, 2010. -- Amended 1986 Ky. Acts ch. 331, sec. 46,
effective July 15, 1986. -- Created 1982 Ky. Acts ch. 123, sec. 13, effective July 15,
1982.
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