Kentucky Revised Statutes Title XI. Revenue and Taxation § 141.040.Corporation income tax; exemptions; rate

1. Financial institutions, as defined in KRS 136.500, except bankers banks organized under KRS 286.3-135;

2. Savings and loan associations organized under the laws of this state and under the laws of the United States and making loans to members only;

3. Banks for cooperatives;

4. Production credit associations;

5. Insurance companies, including farmers' or other mutual hail, cyclone, windstorm, or fire insurance companies, insurers, and reciprocal underwriters;

6. Corporations or other entities exempt under Section 501 of the Internal Revenue Code;

7. Religious, educational, charitable, or like corporations not organized or conducted for pecuniary profit; and

8. Corporations whose only owned or leased property located in this state is located at the premises of a printer with which it has contracted for printing, provided that:

1. Insurance companies, including farmers' or other mutual hail, cyclone, windstorm, or fire insurance companies, insurers, and reciprocal underwriters;

2. Corporations or other entities exempt under Section 501 of the Internal Revenue Code 1;

3. Religious, educational, charitable, or like corporations not organized or conducted for pecuniary profit;

4. Corporations whose only owned or leased property located in this state is located at the premises of a printer with which it has contracted for printing, provided that:

5. For taxable years beginning before January 1, 2025, a disaster response business.

(b) 1. If the S corporation is required under Section 1363(d) of the Internal Revenue Code 2 to submit installments of tax on the recapture of LIFO benefits, installments to pay the Kentucky tax due shall be paid on or before the due date of the S corporation's return, as extended, if applicable.

2. Notwithstanding KRS 141.170(3), no interest shall be assessed on the installment payment for the period of extension.