CHAPTER 67: FINANCIAL INSTITUTION FRANCHISE AND LOCAL DEPOSIT TAX
   67.001   Imposition
   67.002   Tax due
   67.003   Lien imposed
   67.004   Use of tax
 
   67.999   Penalty
                             
Cross reference:
   Limitations period for tax and fee refunds, see § 24.006
§ 67.001 IMPOSITION
   There is hereby imposed on all "financial institutions" as defined in KRS Chapter 136, located within the corporate limits of the city, for the 1996 tax year and all subsequent years, a franchise tax at the rate of 0.025% on all deposits, as defined in KRS Chapter 136, maintained by such financial institutions.
(Ord. 96-10-3(A), passed 10-3-96)
§ 67.002 TAX DUE
   (A)   For transition purposes, the 1996 tax year will be treated differently in terms of collection of taxes than for all subsequent years. For the 1996 tax year, the following timetable is hereby established: The city will issue tax bills to financial institutions no later than May 1, 1997. Payment of the tax shall be due with a two percent (2%) discount by May 31, 1997, or without the discount by June 30, 1997.
   (B)   For all tax years subsequent to the 1996 tax year, the following timetable is hereby established: The city will issue tax bills to financial institutions no later than December 1 of each year. Payment of the tax shall be due with a two percent (2%) discount by December 31 of each year, or without the discount by January 31 of each year.
(Ord. 96-10-3(A), passed 10-3-96)
§ 67.003 LIEN IMPOSED
   The city shall have a lien for taxes on the property assessed for taxes to the extent allowed under KRS 134.420.
(Ord. 96-10-3(A), passed 10-3-96)
§ 67.004 USE OF TAX
   All moneys collected pursuant to these section shall be paid into the General Fund of the city to be used for the payment of proper expenditures as determined by the City Council.
(Ord. 96-10-3(A), passed 10-3-96)
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