Tax And Business Climate In Kentucky

This month we travel to the Bluegrass State of Kentucky. The nickname is based on the bluegrass found in many of its pastures due to its fertile soil.

The Red River Gorge is a canyon system on the Red River in east-central Kentucky. Geologically, it is part of the Pottsville Escarpment, a resistant sandstone belt of cliffs and steep sided, narrow crested valleys. The prevalence of sandstone allowed the Red River to cut a magnificent gorge through the mountains. It is a rock climber’s paradise and is some of the best natural areas around!

Kentucky is a land with diverse environments and abundant resources, including the world’s longest cave system, Mammoth Cave National Park and the longest of navigable waterways and streams in the contiguous United States. Lush forests, mighty rivers and quaint towns blanket the landscape of the state.

The Kentucky Derby is a renowned horse race held at Churchill Downs on the first Saturday in May in Louisville. It is preceded by a 2-week festival and is celebrated in the Kentucky Derby Museum year-round.

Business Climate

Read More

Kentucky Sales Tax Compliance

Kentucky sales tax compliance is fairly simple and straight-forward in comparison to other states’ tax laws. Kentucky has a state-level sales tax rate of 6%, and the state does not offer reduced rates. Due to this, businesses can expect to collect and remit a 6% sales tax rate on all taxable sales they make.

Kentucky Sales Tax

There are three filing frequencies at which taxpayers file their tax returns which will be determined by the Kentucky Department of Revenue at the time of registration. These three frequencies are monthly, quarterly, and annually. Kentucky sales tax compliance requires all taxpayers to file by the 20th of the following reporting period, no matter their filing frequency. If the return due date falls on a weekend or national holiday, then the correct due date will get pushed back to the next business day.

Read More