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Tax is collected by the Kentucky Department of Revenue. [141] Kentucky has a flat 4% individual income tax rate. The sales tax rate in Kentucky is 6%. [142] Kentucky has a broadly based classified property tax system. All classes of property, unless exempted by the Constitution, are taxed by the state, although at widely varying rates. [143]
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.
He succeeded the term-limited Republican Allison Ball of Prestonsburg, who was elected Kentucky Auditor of Public Accounts. The treasurer's duties include: Act as head of the treasury KRS 041.020; Create and manage the state's depository KRS 041-070; Make record of all monies due and payable to the state KRS 041-100
There state has a 1% Mental Health Services surtax (Form 540, line 62) for incomes above $1 million that creates the maximum bracket of 13.3%. California also separately imposes a state Alternative Minimum Tax (Form 540, line 52) at a 7% rate, so a taxpayer may end up paying both the AMT and the 1% surtax. Reference: [97]
That year Republican John McCain won Kentucky, carrying it 57 percent to 41 percent, but lost the national popular and electoral votes to Democrat Barack Obama. Further hampering Kentucky's status as a bellwether state, 116 of Kentucky's 120 counties supported Republican Mitt Romney in the 2012 election, who lost to Barack Obama nationwide. [22 ...
The city is located in the inner Bluegrass region of Kentucky. [10] The Kentucky River flows through the city, making a turn as it passes through the center of town; the Downtown and South Frankfort districts are opposite one another on each side of the river. The suburban areas on either side of the river valley are known as East and West ...