Posted by Tony Sivori on June 8, 2010, 11:14 am
Lou wrote:
>> Colbyt wrote:
>> >
>> > Contrary to what someone one else posted this may be true. Kentucky
>> > had an intangible property tax like that until a few years ago.
>>
>> I've lived in and filed taxes in Kentucky for many years. I've never
>> paid the first penny of tax on any bank account balance.
>>
> I don't anything about taxes in Kentucky, but whether or not you actually
> paid a certain tax doesn't really tell us anything about whether or not
> such a tax existed. It doesn't even tell us if you had a bank balance to
> pay taxes on.
I think you are not very good at reading between the lines.
--
Tony Sivori
Due to spam, I'm filtering all Google Groups posters.
Posted by Colbyt on June 8, 2010, 4:29 pm
>> Colbyt wrote:
>> >
>> > Contrary to what someone one else posted this may be true. Kentucky
>> > had
>> > an intangible property tax like that until a few years ago.
>>
>> I've lived in and filed taxes in Kentucky for many years. I've never paid
>> the first penny of tax on any bank account balance.
>>
> I don't anything about taxes in Kentucky, but whether or not you actually
> paid a certain tax doesn't really tell us anything about whether or not
> such
> a tax existed. It doesn't even tell us if you had a bank balance to pay
> taxes on.
Actually Tony's claim would be accurate for Kentucky based banks. Funds on
deposit in banks located in KY were exempt from the tax. The banks were
required to pay the tax but not the depositor.
Money in out of state banks, money market funds, stocks and bonds were all
taxed.
I think it was that exemption that helped in the over-turning of this
onerous tax.
Colbyt
Posted by Lou on June 9, 2010, 12:53 pm
>>
>>> Colbyt wrote:
>>> >
>>> > Contrary to what someone one else posted this may be true. Kentucky
>>> > had
>>> > an intangible property tax like that until a few years ago.
>>>
>>> I've lived in and filed taxes in Kentucky for many years. I've never
>>> paid
>>> the first penny of tax on any bank account balance.
>>>
>> I don't anything about taxes in Kentucky, but whether or not you actually
>> paid a certain tax doesn't really tell us anything about whether or not
>> such
>> a tax existed. It doesn't even tell us if you had a bank balance to pay
>> taxes on.
>>
>>
> Actually Tony's claim would be accurate for Kentucky based banks. Funds
> on deposit in banks located in KY were exempt from the tax. The banks were
> required to pay the tax but not the depositor.
> Money in out of state banks, money market funds, stocks and bonds were all
> taxed.
> I think it was that exemption that helped in the over-turning of this
> onerous tax.
Make sense - it sounds to me like it would violate the interstate commerce
clause of the constitution.
XML site map
>> >
>> > Contrary to what someone one else posted this may be true. Kentucky
>> > had an intangible property tax like that until a few years ago.
>>
>> I've lived in and filed taxes in Kentucky for many years. I've never
>> paid the first penny of tax on any bank account balance.
>>
> I don't anything about taxes in Kentucky, but whether or not you actually
> paid a certain tax doesn't really tell us anything about whether or not
> such a tax existed. It doesn't even tell us if you had a bank balance to
> pay taxes on.