Request By:
Sen. Art Schmidt
134 Winters Lane
Cold Spring, Kentucky 41076
Opinion
Opinion By: David L. Armstrong, Attorney General; By: Alex W. Rose, Assistant Attorney General
In your letter to the Attorney General, you inquire whether investments of the Kenton-Boone Cable Television Board in time deposits in an Ohio bank are subject to the intangible property tax levied by KRS 132.020(1).
Assuming that the Board is not a governmental agency, it appears that the intangibles would be subject to the tax since intangibles, like other personalty, are generally sitused at the domicile of their owner. See 71 Am.Jr.2d, State and Local Taxation §§ 666-667;