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from the Kentucky Department of Revenue Toggle navigation. Income Taxes . Income Taxes; Corporation and Pass-Through Entity Taxes FAQs
The 2022 Kentucky le gislation in House Bill 8 and 2023 legislation in House Bill 360 make substantial changes to how various services are taxed within the state. In the area of sales and use tax, more than thirty (30) additional service categories became subject to tax. Businesses that provide the new services are required to collect the 6% ...
Income Taxes. The Kentucky Department of Revenue is committed to helping you understand Kentucky income tax law changes, keeping you updated, and answering your questions. Links to the Income Tax Fre quently Asked Questions (FAQs) may be found at right. For additional information rega rding income taxes please visit.
Residential Exemption Changes. Implementation of Changes to the Sales & Use Tax Residential Utility Exemption-KRS 139.470 (7), effective 01/01/2023 . The basis of the residential exemption for utilities shifts from reliance on tariff language filed with the Public Service Commission (PSC) to a customer declaration that the services are used at ...
Sales tax returns are due on a monthly basis, but the Department does allow less frequent filing based upon the amount of sales tax reported annually. The Department adjusts filing frequencies programmatically each June. Taxpayers may request a filing frequency change directly from the Department as needed; however, taxpayers may not file less ...
Yes, the Department of Revenue will waive any penalty for failing to comply with the 110% safe-harbor rule in 2019 for taxpayers with AGI over $150,000 ($75,000 if married filing separate). The 100% safe harbor rule will apply for 2019 as in prior years for Kentucky. However, the 110% safe-harbor rule will apply for 2020 and subsequent years.
Sales and Use Tax. 2018 Kentucky legislation expanded the types of services subject to sales tax, established economic nexus thresholds for remote retailers, and amended certain excise taxes. 2019 Kentucky legislation made further changes to provide an exemption for resale for newly taxable services, established sales and use tax collection ...
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No, Kentucky will not blend its corporate income tax rates, because the Kentucky statute was amended to state the rate change applies to, “taxable years beginning on or after January 1, 2018.” Although the new federal law contains similar language to the Kentucky statute, a separate section of the Internal Revenue Code (IRC §15 ) requires ...
Register for a Sales and Use Tax Account. Sales and Excise Taxes. Register for a Sales and Use Tax Account. Does your business have any existing tax accounts with the Department of Revenue? Yes! My business has existing tax accounts with the Department of Revenue. This is me!