(A) All license fees imposed by this chapter shall be due no later than 30 days after the end of each calendar quarter.
(B) (1) Any insurance company or agent that overpays any license fee or tax to a city shall be refunded the amount overpaid. If it is determined that an insurance company or agent paid a license fee or tax to a city based upon premiums collected upon lives or risks which are discovered to be located outside the legal corporate limits of the city which was paid the license fee or tax, the insurance company or agent shall be refunded those license fees and taxes within 90 days of notice to the city paid.
(2) All amended returns, requests for refunds or credits, and assessments shall be made within two years of the due date of the annual reconciliation provided for in KRS 91A.080(8) for the tax period during which the error was made, except that in the case of fraudulent failure to file a return or the filing of a fraudulent return, the underpayment may be assessed at any time.
(3) 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) from the date until paid. Such interest payable to the city is separate from penalties provided for in KRS 91A.080(7). In addition, the city may assess a 10% penalty for a tax or fee not paid within 30 days after the due date.
(Ord. passed 3-11-2019)
Statutory Reference:
See also KRS 91A.080(8) and 91A.080(9)