Kentucky Tax Talk: Important Bills To Watch This Session
By Mark Sommer, Daniel Mudd and Elizabeth Mosley (March 1, 2021, 4:04 PM EST) -- With a shorter than usual legislative session, an outstanding budget for the 2022 fiscal year, and shifted priorities in the wake of the COVID-19 pandemic, many did not anticipate tax legislation being at the top of the Kentucky General Assembly's to-do list for 2021.
Despite these considerations and Kentucky's budget director recently announcing that the general fund receipts for January set a record with a total of $1.076 billion — an almost 7% increase over January 2020 — there are still several tax initiatives that could exponentially affect taxpayers.
S.B. 120 is an important piece of legislation that passed...
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