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(a) Every business entity, other than a sole proprietorship, subject to taxation under this article shall make quarterly estimated tax payments on or before the fifteenth day of the fourth, sixth, ninth, and twelfth month of each taxable year, if the tax liability for the taxable year exceeds five thousand dollars ($5,000.00).
(b) The quarterly estimated tax payments required under subsection (a) of this section shall be based on the lesser of:
(1) Twenty-two and one-half percent (22.5%) of the current taxable year tax liability;
(2) Twenty-five percent (25%) of the preceding full year taxable year tax liability; or
(3) Twenty-five percent (25%) of the average tax liability for the three (3) preceding full year taxable years' tax liabilities, if the tax liability for any of the three (3) preceding full taxable years exceeded twenty thousand dollars ($20,000.00).
(c) (1) Any business entity that fails to submit the minimum quarterly payment required under subsection (b) of this section, by the due date for the quarterly payment, shall pay an amount equal to twelve percent (12%) per annum simple interest on the amount of the quarterly payment required under subsection (b) of this section, from the earlier of:
a. The due date for the quarterly payment until the time when the aggregate quarterly payments submitted for the taxable year equal the minimum aggregate payments due under subsection (b) of this section; or
b. The due date of the annual return.
(2) A fraction of a month is counted as an entire month.
(d) The provisions of this section shall not apply to any business entity's first full or partial taxable year of doing business in the city, or any first taxable year in which a business entity's tax liability exceeds five thousand dollars ($5,000.00).
(e) At the election of the business entity, any installment of the estimated tax may be paid prior to the date prescribed for its payment.
(Ord. No. 1687, 9-26-05)
§§ 16-30--16-50. Reserved.
ARTICLE III. LICENSE TAX ON INSURANCE COMPANIES*
*State law reference--License tax on insurance companies ,KRS 92.285
(a) There is hereby imposed on each insurance company a license fee for the privilege of engaging in the business of insurance within the corporate limits of the city on a calendar year basis.
(b) The license fee imposed upon each insurance company which issues life insurance policies on the lives of persons residing within the corporate limits of the city shall be eight percent (8%) of the first year’s premiums actually collected within each calendar quarter by reason of the issuance of such policies.
(c) The license fee imposed upon each issuance company which issues any insurance policy which is not a life insurance policy shall be eight percent (8%), with the exception of an inland marine policy which shall be four percent (4%), of the premiums actually collected within each calendar quarter by reason of the issuance of such policies on risks located within the corporate limits of the city on those classes of business which such company is authorized to transact, less all premiums returned to policy holders; however, any license fee or tax imposed upon premium receipts shall not include premiums received for insuring employers against liability for personal injuries to their employees, or death caused thereby, under the provisions of the Workers’ Compensation Act and shall not include premiums received on policies of group health insurance provided for state employees under KRS 18A.225(2), and shall not include premiums received on other policies of health and/or accident insurance.
(Ord. No. 1338, §§ 1--3, 10-23-84; Ord. No. 1829, § 1, 11-12-13; Ord. No. 2007, § 1, 3-13-23)
All license fees imposed by this article shall be due no later than thirty (30) days after the end of each calendar quarter. License fees which are not paid on or before the due date shall bear interest at the tax interest rate as defined in KRS 131.010(6).
(Ord. No. 1338, § 4, 10-23-84)
Every insurance company subject to the license fees imposed by this article shall annually, by March thirty-first, furnish the city with a written breakdown of all collections in the preceding calendar year for the following categories of insurance:
(1) Casualty;
(2) Automobile;
(3) Inland marine;
(4) Fire and allied perils;
(5) Health; and
(6) Life.
(Ord. No. 1338, § 5, 10-23-84)
Secs. 16-54--16.65. Reserved.
ARTICLE IV. TRANSIENT TAX**
**State law reference--Room tax, KRS 91A.390
(a) The imposition and collection of the transient room tax shall be on the day beginning April 1, 1984 and each day thereafter.
(b) The imposition and levy of a transient room tax of three (3) percent of the rent of every occupancy of a suite, room or rooms, charged by all persons, companies, corporations or other like or similar persons, groups or organizations doing business as motor courts, motels, hotels, inns or like or similar accommodations or businesses, as approved, shall apply to transient guests who occupy a room in motor courts, motels, hotels, inns or like or similar accommodations. This tax shall be charged on all occupancies, regardless of the length of occupancy.
(c) The taxes imposed in this section shall be imposed on the rent for every occupancy of a suite, room, rooms, cabins, lodgings, campsites, or other accommodations charged by any hotel, motel, inn, tourist camp, tourist cabin, campgrounds, recreational vehicle parks, or any other place in which accommodations are regularly furnished to transients for consideration or by any person that facilitates the rental of the accommodations by brokering, coordinating, or in any other way arranging for the rental of the accommodations.
(Ord. No. 1328, §§ 1, 3, 2-28-84; Am. Ord. No. 1533, § 1, 7-8-97; Ord. No. 2004, § 1, 11-28-22)
All persons doing business involving the rent for occupancy of a suite, room, rooms, cabins, lodgings, campsites, or other accommodations charged by any hotel, motel, inn, tourist camp, tourist cabin, campgrounds, recreational vehicle parks, or any other place in which accommodations are regularly furnished to transients for consideration or by any person that facilitates the rental of the accommodations by brokering, coordinating, or in any other way arranging for the rental of the accommodations, shall collect and pay the transient room tax.
(Ord. No. 1328, § 4, 2-28-84; Am. Ord. No. 1533, § 1, 7-8-97; Ord. No. 2004, § 2, 11-28-22)
The tax under this article shall be paid to the Treasurer of the Danville-Boyle County Tourist Commission no later than the thirtieth day following the last day of the month in which said tax had been charged. Each collecting entity shall file with the treasurer a return in duplicate, on a form to be authorized by the commission, together with the tax due.
(Ord. No. 1328, § 1, 2-28-84; Am. Ord. No. 1533, § 1, 7-8-97; Am. Ord. No. 1603, 8-27-01)
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