KRS § 91.270 Taxes based on income, licenses and franchises -- Payment and collection -- Disposition of revenue -- Penalty -- Lien.

91.270 Taxes based on income, licenses and franchises -- Payment and collection -- Disposition of revenue -- Penalty -- Lien. (1) The treasurer and secretary of the sinking fund shall collect all taxes on personal property based on income, licenses and franchises in lieu of an ad valorem tax, and shall pay them monthly to the director of finance, who shall give a receipt therefor. The treasurer and secretary shall furnish monthly to the director of finance a statement showing what persons have, during the previous month, paid such taxes, the amount paid by each, and the total amount paid by him to the director of finance. (2) The revenue derived from taxes based on income, licenses and franchises in lieu of an ad valorem tax shall be paid at such time in the fiscal year, and apportioned and distributed, as may be fixed by ordinance, for the same purposes as the revenue derived from the ad valorem tax. In default of the payment of such taxes at the time fixed by ordinance, a penalty of five percent (5%) shall be added thereto and interest on the amount of such taxes shall be computed and paid by the delinquent from that date at the rate of six percent (6%) per annum until paid. (3) A lien superior to all other liens, except the lien for state taxes, whether such liens were acquired before or after the maturity of the taxes referred to in this section, shall exist in favor of the city from the date the taxes are due, for the amount of the taxes, interest and penalties, upon all the real and personal property of the delinquent taxpayer. The city may enforce the lien by action in the name of the city in the Circuit Court, and in that action may also obtain a personal judgment against the delinquent taxpayer for the tax, penalties, interest, and costs of suit. Effective: October 1, 1942 History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 2980, 2984b-1.