Statutes > Kentucky Statutes > CHAPTER 136 CORPORATION AND UTILITY TAXES > 136.290 Report of savings and loan, savings bank, and similar institutions -- Value determination -- Notice.

136.290 Report of savings and loan, savings bank, and similar institutions -- Value determination -- Notice.

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136.290 Report of savings and loan, savings bank, and similar institutions -- Value determination -- Notice. (1) Every federally or state chartered savings and loan association, savings bank, and other similar institutions operating solely in Kentucky shall, during January of each <br>year, file with the Department of Revenue a report containing such information and <br>in such form as the department may require. (2) The department shall fix the total value, as of January 1 of each year, of the capital of each financial institution included in subsection (1) of this section. Capital shall <br>include certificates of deposit, savings accounts, demand deposits, undivided <br>profits, surplus, and general reserves, excepting the share of borrowing members <br>where the amount borrowed equals or exceeds the amount paid in by those <br>members. For Agricultural Credit Associations chartered by the Farm Credit <br>Administration, capital shall be computed by deducting the book value of the <br>association's investment in any other wholly owned institution chartered by the <br>Farm Credit Administration that is either subject to the tax imposed by KRS <br>136.300 or 136.310 or that is exempt from state taxation by federal law. The <br>department shall immediately notify each institution of the value so fixed. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 318, effective June 20, 2005. -- Amended 2004 Ky. Acts ch. 142, sec. 5, effective April 21, 2004. -- Amended 1990 Ky. Acts <br>ch. 262, sec. 1, effective July 13, 1990. -- Amended 1972 Ky. Acts ch. 121, sec. 2. -- <br>Amended 1970 Ky. Acts ch. 14, sec. 2. -- Amended 1966 Ky. Acts ch. 255, sec. 130. <br>-- Amended 1960 Ky. Acts ch. 186, Art. 1, sec. 36. -- Amended 1949 (1st Extra. <br>Sess.) Ky. Acts ch. 4, sec. 19. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective <br>October 1, 1942, from Ky. Stat. sec. 4019a-6.