Kentucky Department of Revenue, Kentucky Tax

Kentucky Business Corporate Tax, Kentucky Personal Income Tax, Kentucky Sales Tax Rates

What is the Kentucky Corporate net income tax rate(s)?

What is the Kentucky personal net income tax rate(s)?

There are also a lot of local income taxes with a average rate of .76%

What is the average Kentucky sales tax rate(s)?

6%

Are there standard deductions?

Single:  $2,100.00
Joint:  $2,100.00

Are there personal exemptions?

Single:  $20.00
Dependants:  $20.00

What forms do you file for your Kentucky taxes?

C corporations:   Form 720
S Corporations:  Form 720S
Partnerships:  Form 765
Individual:  Form 740 and 740NP for part resident

Estimated tax payments?

Form 720ES in 3 installments if your tax liability is over $5,000 a year. Kentucky follows the IRS standards for estimated payments. If you will owe $500.00 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won't make as much in the current year.

Kentucky Department of Revenue:

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