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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.
[11] The occupational tax, 0.002 percent, covers about two-thirds of TARC's annual operating expenses; the total varies with the availability of federal grants and fares collected. [12] TARC had 710 employees in 2002, 460 of whom were bus drivers. [13] Some funding is from a TARC transportation trust fund.
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]
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The official start date for electronic filing of tax year 2023 Kentucky returns began Jan. 23, according to the state's tax office. The Internal Revenue Service will begin accepting and processing ...
You can check the status of your Kentucky state tax refund at the state's online portal. You can also speak with an examiner about a prior year or amended refund by calling (502) 564-4581.
On May 23, 2014, the Kentucky Court of Appeals ruled that the "Stivers amendment", passed as part of KY HB 499 "Tax Amnesty" legislation in 2012, did not violate the state's constitution. The measure essentially canceled the effect of court rulings that would have enabled Corbin to keep all the revenue from the tax generated inside the city limits.
Initially, the auditor of public accounts served as a comptroller and tax collector for state government. The Reorganization Act of 1936 transferred those functions to other state agencies and established the auditor's office as "...an impartial agency entirely independent of state administration and charged with the responsibility of auditing the accounts and financial transactions of all ...