103 KAR 8:090. Classification of property; public service corporations.

 

      RELATES TO: KRS 136.130

      STATUTORY AUTHORITY: KRS Chapter 13A

      NECESSITY, FUNCTION, AND CONFORMITY: This administrative regulation classifies certain property as real estate, personalty and manufacturing machinery. The property involved has been the subject of some confusion in the past. This information is helpful to public service companies in classifying new property.

 

      Section 1. The Revenue Cabinet prescribes the following classification of property to be used by public service corporations in reporting under KRS 136.120 et seq. This list is not intended to be complete and comprehends only those items of property whose proper classification has been subject to some confusion in the past.

Class of Property

Classification by

Revenue Cabinet

Leasehold

Real Estate

Oil wells

Real Estate

Gas wells

Real Estate

Gathering lines

Personalty

Pipe lines (transmission)

Real Estate

Electric transmission lines

Personalty

Electric distribution lines

Personalty

Telephone lines

Personalty

Underground cables

Personalty

Electric substations and transformers

Manufacturing Machinery

Machinery & equipment used in

Manufacturing

manufacture of gas

Machinery

Conduits

Real Estate

Wire contained in underground conduits

Personalty

      (FN-2; 1 Ky.R. 1008; eff. 6-11-75; Am. 8 Ky.R. 68; eff. 9-2-81.)