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132.040 Financial institutions to report and pay tax -- Lien.

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132.040 Financial institutions to report and pay tax -- Lien. Each financial institution, as defined in KRS 136.500, shall file with the department on or <br>before March 1 of each year, a report setting forth the total amount of its deposits as of <br>the preceding January 1 that are taxable in the name of the depositor under the laws of <br>this state, and shall, on or before March 1 of each year, pay to the department one-<br>thousandth of one percent (.001%) of the amount of the deposits, and may charge to and <br>deduct from the deposit of each depositor the amount of the tax paid on his behalf. <br>Financial institutions shall have liens on the funds belonging to the respective depositors <br>on which the tax has been paid. Any claim for taxes against the depositor by the financial <br>institution paying the taxes shall be asserted within six (6) months after the payment of <br>the taxes to the department, and no claims or liens shall be asserted after that time. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 173, effective June 20, 2005. -- Amended 2002 Ky. Acts ch. 89, sec. 4, effective July 15, 2002. -- Amended 1996 Ky. Acts <br>ch. 254, sec. 24, effective July 15, 1996. -- Amended 1976 (1st Extra. Sess.) Ky. Acts <br>ch. 14, sec. 143, effective January 2, 1978. -- Amended 1960 Ky. Acts ch. 186, Art. <br>I, sec. 2, effective June 16, 1960. -- Amended 1949 (1st Extra. Sess.) Ky. Acts ch. 4, <br>sec. 2. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from <br>Ky. Stat. sec. 4019a-3, 4019a-4.