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Buyers must pay attention to the contingency deadlines written into the purchase agreement if they hope to avoid penalties. ... Almost 56,000 home purchase agreements were canceled in June, it ...
The first broad-based, general sales taxes in the United States were enacted by Kentucky and Mississippi in 1930, although Kentucky repealed its sales tax in 1936. The federal government's per-gallon tax of gasoline (beginning at one cent per gallon in 1932) and per-package tax of cigarettes ($1.01 per package since 2009) are the most well ...
The tax rate was raised from 6% on April 1, 2008, to offset the loss of revenue from the statewide property tax reform, which is expected to significantly lower property taxes. Previous to this it was 5 percent from 1983 to 2002. It was 6 percent from 2002 to 2008. The rate currently stands at 7 percent.
The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year.
Beginning Jan. 1, 2023, the state’s income tax is set to drop to 4.5%, and the bill’s supporters in the General Assembly have plans to approve additional 0.5% reductions if they deem the state ...
Lawmakers in Frankfort filed more than 1,000 bills during the 2024 General Assembly. Some of them will become law. More of them won’t. But in a handful of cases, Kentucky voters will get the ...
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