Kentucky Governor Steve Beshear (D) is supposed to be close to calling a special session in May or June to consider reforming the state tax code. One suggested basis would be introduced HB 51, which lowers to state sales tax from 6% to 5%, broadens its base, and eliminates the individual income, corporate income, and LLC taxes. Beneficiaries of many of the current exemptions have lined up against the package.
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By:About the Author
Joseph Bishop-Henchman
Executive Vice President
Joe Bishop-Henchman is Executive Vice President at the Tax Foundation, where he analyzes state tax trends, constitutional issues, and tax law developments. Joe has testified or presented to officials in 36 states, testified before Congress six times, and has written over 75 major studies on tax policy.