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The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, [1] and by municipal governments in West Virginia and Kentucky. [2] It is a type of gross receipts tax because it is levied on gross income, rather than net income.
Here are the details. The individual income tax rate in Kentucky is set to drop again at the start of 2026. Republican leaders in the General Assembly announced this week that the state’s budget ...
August 21, 2024 at 7:10 PM. FRANKFORT, Ky. (AP) — Kentucky has met the financial conditions needed to set in motion another cut in the state's personal income tax rate that could take effect in ...
State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. These tax rates vary by state and by entity type. Taxable income conforms closely to federal taxable income in most states with limited modifications. [2]
The official start date for electronic filing of tax year 2023 Kentucky returns began Jan. 23, according to the state's tax office. The Internal Revenue Service will begin accepting and processing ...
Alito. Department of Revenue of Kentucky v. Davis, 553 U.S. 328 (2008), is a United States Supreme Court case in which the Court upheld a Kentucky law that provides a preferential tax break to Kentucky residents who invest in bonds issued by the state and its municipalities (municipal bonds). The Court held in a 7–2 vote that the State of ...
Three percent. The state’s personal income tax rate can’t go down any further than 3% without making major changes to the way Kentuckians are taxed, according to House Speaker David Osborne, R ...
The Kentucky State Treasurer is elected every four years along with the governor and other statewide officials. The treasurer, who can serve two terms, acts as the state's chief elected fiscal officer. [1] The salary is $152,551.00 a year. The current treasurer, Mark H. Metcalf of Lancaster, is the second Republican elected to the post since 1944.
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