News
August 22, 2024

KY INCOME TAX CUT

Chris Nelson
Chris Nelson
KY INCOME TAX CUT

KENTUCKY HAS MET THE FINANCIAL CONDITIONS TO SET IN MOTION ANOTHER CUT IN THE PERSONAL INCOME TAX RATE THAT COULD TAKE EFFECT IN  20-

26…..AS STATE BUDGET OFFICIALS HAVE CONFIRMED THE FINANCIAL TRIGGERS WERE SATISFIED…..

 

THAT CLEARS THE WAY FOR LAWMAKERS TO REDUC E THE INDIVIDUAL INCOME  TAX RATE FROM FOUR-PRCENT  TO THREE-POINT-FIVE PERCENT EFFECTIVE

IN JANUARY 20-26…..THE GENERAL ASSEMBLY CAN PASS THE RATE CUT WHEN IT CONVENES IN JANUARY…..

 

A YEAR AGO.....THE COMMONWEALTH FAILED TO FULLY MEET FINANCIAL CONDITIONS.....WHICH MEANS THE INCOME TAX RATE WILL HOLD STEADY AT FOUR-

PERCENT THIS COMING JANUARY….…

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