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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.
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The city receives a portion of the occupational tax collected in Whitley County. However, Knox County has refused to give Corbin any tax collected there. On March 10, 2008, the City Commission voted to file a lawsuit against Knox County to receive a portion of the tax collected within city limits. [21]
Tax reform in Louisville will create more opportunities for community investment. GA must work to give Kentuckians the freedom and tools needed. Louisville's tax model needs a revamp, put money ...
Now it has about 3,700 at the main hospital and other clinics and facilities, and accounts for about half the occupational-tax revenue the city gets, he said. “It took the place of coal ...
Kentucky: Most counties, including Kenton County, Kentucky, and municipalities, including Louisville and Lexington (earned income and certain rental income that qualifies as a business; reported as Occupational License fee/tax by employer or as Net Profits tax by business, filed with county or municipality imposing tax)
Various state and local taxing authorities in the US require an employer or the employee to withhold and remit a tax on the wages paid to an employee. Some states require both the employer and employee to remit a portion of the total occupational privilege tax (OPT), while others only require one or the other to do so. [1]
The current budgetary “triggers” that need to be met to cut income tax another 0.5 percentage points include a healthy balance of the Budget Reserve Trust Fund — often called the rainy day ...