In three of the last four years, Kentucky Republicans have kicked off the legislative session by cutting the state’s individual income tax rate, aiming to eventually eliminate the tax altogether. This year, amid economic headwinds, another tax cut remains uncertain. “There will be a revenue measure filed and passed at some point during this session. […]
Tag: income tax
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Kentucky House approves income tax reduction
The Kentucky House of Representatives voted to reduce the individual income tax rate from 4% to 3.5%, which would take effect on January 1, 2026, if approved by the Senate and governor.
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NKY Chamber says no new B2B sales tax expansion ‘best part’ of 2024 revenue bill
An expansion of Kentucky’s 6% sales tax to a new list of services was conspicuously left out of a state revenue bill passed by Kentucky lawmakers last spring, and the Northern Kentucky Chamber of Commerce is pretty happy about it. Tami Wilson, Vice President of Public Affairs for the Northern Kentucky Chamber of Commerce, championed […]
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Fort Wright hears from legislators about 2023 session
The Kentucky state legislative session ended in March. The legislators representing Fort Wright in Frankfort shared their thoughts on the session at a May council meeting. Kentucky State Sen. Christian ‘Chris’ McDaniel has been representing Kentucky’s 23rd legislative district, which includes Fort Wright, since 2013. On May 3, McDaniel spoke at a Fort Wright City […]
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Senate passes income tax bill, heads to governor
Today, the Senate passed legislation to further reduce the income tax from 4.5 to 4%, and the bill will now head back to the House for concurrence before heading to the governor’s desk. House Bill 1 codifies the cut in House Bill 8 — a bill passed during the 2022 legislative session that seeks to […]
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Frankfort Week in Review: Unemployment, income tax, abortion bills continue to move through the General Assembly
Unemployment Bill Likely to Head to Governor’s Desk House Bill 4, the bill that would slash unemployment benefits Kentucky, passed the Senate yesterday and now heads back to the House before it would land on Gov. Andy Beshear’s desk. The bill was presented to the Senate by Northern Kentucky Senator Wil Schroder (R-Wilder) and would […]