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Kentucky Department of Revenue, Kentucky Tax

We’re Just Not Annoying®

KENTUCKY BUSINESS CORPORATE TAX, KENTUCKY PERSONAL INCOME TAX, KENTUCKY SALES TAX RATES

What are the Kentucky corporate net income tax rates?

0-50,000 4%
50,000-100,000 5%
100,000 + 6%

What are the Kentucky personal net income tax rates?

0-3,000 2%
3,000-4,000 3%
4,000-5,000 4%
5,000-8,000 5%
8,000-75,000 5.8%
75,000+ 6%

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

What is the average Kentucky sales tax rate?

6%

Are there standard deductions?

Single:  $2,100
Joint:  $2,100

Are there personal exemptions?

Single:  $20
Dependents:  $20

What forms do you file for your Kentucky taxes?

Kentucky C corporations:   Form 720
S corporations:  Form 720S
Partnerships:  Form 765
Individual (Kentucky LLC members):  Form 740 and 740NP for part resident
Kentucky Nonprofit Charities: Form 990

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 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:

Kentucky Department of Revenue
600 West Cedar Street
2nd Floor West
Louisville, KY 40202
Telephone: 502-564-8139
Fax: 502-595-4205
Website:  http://revenue.ky.gov/forms/

If you use Northwest Registered Agent as your Kentucky registered agent, you’ll have an online account to track your company in, receive notification reminders to file your annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new Kentucky businesses for only $100.

Corporate Compliance
by Local Corporate Guides®