When must sales tax receipts be submitted to the Kentucky Department of Revenue?

In Kentucky, sales tax receipts must be submitted to the Department of Revenue within 20 days after the assigned period in which the sales tax was collected. This timeframe allows auctioneers to account for the sales they have conducted and accurately report the sales tax owed to the state. The assigned period typically refers to the specific interval during which the sales occurred, ensuring that the tax is reported and remitted timely, facilitating proper cash flow for public finances.

This timing is set to ensure compliance with state tax regulations and to support the administrative process of tax collection. Auctioneers are responsible for maintaining accurate records of sales and ensuring that they meet their tax obligations within this designated period, thereby avoiding penalties or interest for late submissions.