The insurance premium tax created herein shall be due no later than 30 days after the end of each calendar quarter. The payment shall be submitted to the local government, together with Form LGT-141, on or before the due date. Any tax not paid on or before the due date shall bear interest from the date due until paid at the interest rate established annually by the Department of Revenue for unpaid or underpaid taxes pursuant to KRS 131.010(6). This interest shall be paid to the local government together with the license fee or tax that is due. In addition, the insurance company shall pay to the local government a penalty in the amount of 10% of the tax due on a tax not paid within 30 days after the due date.
(Ord. 2020-01, passed 2-10-2020)