Kentucky Business and Corporate Law

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Filtered by tag: TaxationView all

Will Your Business Be Affected by Kentucky Revenue Bill Tax Reforms?

House Bill (HB) 8 has moved to the Kentucky Senate after being passed by the House of Representatives last week. This legislation seeks to transition Kentucky from its reliance on the current income tax-based model to a consumption-based model, gradually decreasing the income tax over the next several years. To replace the income tax revenue, HB 8 expands Kentucky’s 6% sales tax to a wider variety of services provided to consumers by Kentucky businesses.

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Tax, Intangible Assets, and the Value of Taking A Closer Look: A Case Study

In the buy-vs.-lease consideration, the overall tax burdens and advantages of each option must include a clear-eyed approach as to the precise components of each option and should assign appropriate values to each. When the lease option is chosen, a recent case illustrates the high value of getting a sense of the whole picture, especially as the protest period for real property tax assessments looms.

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Lexington, KY Louisville, KY Frankfort, KY Frankfort, KY: MML&K Government Solutions