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Kentucky workers see bigger paychecks after a tax cut, but experts warn of looming budget shortfalls and deeper cuts to schools and services.
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About 45 years have passed since a U.S. state last eliminated its income tax on wages and salaries. But with recent actions in Mississippi and…
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Starting in January, Kentuckians will begin paying less income tax. But to pay for that dip in state revenue, lawmakers tacked on dozens of expansions to the sales tax.
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The sweeping measure— House Bill 8 — included no reduction in the state corporate income tax.
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In general, Biden is proposing to raise taxes on the wealthy and on corporations by reversing some of the Republican-backed tax cuts that President Donald Trump signed into law in 2017.
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In 2017, a typical nurse earning an average of $70,000, paid $5,400 in federal income taxes, according to Americans for Tax Fairness.
Jefferson County council approved two separate income tax increases Tuesday to help pay for the $36 million jail.