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Articles by Collier Clay
Why No Kentucky Tax Amnesty In 2023?
House Bill 8 (HB 8) revised the Kentucky Tax Amnesty Act and established a tax amnesty program for 2023 in the event the Kentucky Department of Revenue (KDOR) could not implement one in 2022. However, with two and a half weeks remaining before the statutorily-mandated tax amnesty program is to begin, legislative critics have argued that KDOR has yet to make preparations for the tax amnesty program and ignored HB 8’s directive.
Indiana Tax Developments: Spring 2023
I. SELECTED NEW LEGISLATION P.L. 1-2023 (Senate Enrolled Act No. 2): Taxation of Pass Through Entities. (signed by Governor Feb. 22, 2023). Authorizes certain pass through entities to elect to pay tax at the entity level based on each owner’s share of adjusted gross income. Senate Enrolled Act No. 325: Homestead Standard Deduction.
Kentucky’s Evolving Sales Tax on Services
Kentucky’s sales tax is not just a sales tax on tangible personal property. Beginning in 2018 and most recently in 2022, Kentucky has expanded its sales tax to more and more services. Do developments in the 2023 legislative session portend a slowdown or a pull back? SALES TAX EXPANDS TO CERTAIN SERVICES IN 2018 Kentucky expanded its sales tax to services generally for which the place of performance is the same as where the benefit is received.
Kentucky Tax Developments: Spring 2023
Register now for your free, tailored, daily legal newsfeed service. Questions? Please contact Register To view this article you need a PDF viewer such as Adobe Reader. If you can't read this PDF, you can view its text here. Go back to the PDF . USA May 1 2023 Kentucky Tax Developments: Spring 2023 Dentons SALT Insights Grow | Protect | Operate | Finance I. 2023 LEGISLATIVE UPDATE The Kentucky 2023 regular legislative session saw a number of important tax law changes.
Kentucky Enacts Pass-through Entity Tax Election
On March 24, 2023, Kentucky Governor Andy Beshear signed into law House Bill 360 (HB 360), amended by House Bill 5 (HB 5), which created a pass-through entity tax and tax credit, joining its sister states that have enacted SALT parity legislation. What is Kentucky’s pass-through entity tax, and how does it affect your company? With the 2022 tax filing deadline looming, read on to learn more.
New Year, New Taxes: Kentucky Sales and Use Tax Expands to More Services
As part of the effort to phase out the Kentucky individual income tax, in April 2022, Kentucky House Bill 8 (“HB 8”) passed – over the Governor’s veto – and expanded the sales and use tax base to include over 30 consumer and business-to-business services, with an emphasis on shortterm services. The new taxes take effect on January 1, 2023. These changes follow the nationwide trends to expand consumer taxes, often by taxing services, and cut income taxes.
Kentucky Local Occupational License Taxes
The prevalence of occupational license taxes on wages and net profits imposed by local tax districts in Kentucky underscores Kentucky local tax districts’ dependence on these taxes for revenue. The Commonwealth has historically been dependent on taxes based on income as well but has recently moved away from income-based taxes to become more competitive. Local occupational taxes are significant. For Kentucky to become competitive, should not local taxes be addressed as well?
Kentucky: Century Aluminum Decision Provides Clarity on the Kentucky Manufacturing Sales Tax Exemption
The Kentucky Supreme Court held that certain items purchased by Century Aluminum and consumed in its manufacturing process were tax-exempt supplies, not taxable repair, replacement or spare parts. Century Aluminum of Kentucky, GP v. Department of Revenue, 2021- SC-0300-DG (Ky. December 15, 2022) (designated to be published). ).
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