The director, after having ascertained the assessed value of the property of such public utility, shall add 5%, or $100,000 of the assessed value, whichever is less, thereto as a penalty for late filing if the failure is not for more than one month, with an additional 5%, or $100,000 of the assessed value, whichever is less, for each additional month or fraction thereof during which such failure continues, not exceeding 25%, or $500,000 of the assessed value, whichever is less, in the aggregate.
For good cause shown the director may grant one or more extensions in time, not to exceed 30 days in aggregate, in which to make and file such return. Such request for extension of time must be in writing and shall state just and adequate reasons on which the request may be granted. The request must be received by the director on or prior to the due date of the return. In the event the extension is granted, no penalty shall accrue until the due date of such return. In the event the extension is denied, the public utility shall be notified in writing of such denial and shall file the return within ten days following receipt of such notice of denial. Penalties for late filing of such return shall accrue at the end of such ten-day period.
K.S.A. 79-5a14