CITY OF HENDERSON PAYROLL AND NET PROFIT TAX WILL INCREASE TO 1.65%For assistance and Tax forms download visit www.cityofhendersonky.org or contact our office 270-827-5828
News
Where’s my tax refund? (Probably still at the IRS)
One of the more infuriating dilemmas for taxpayers is when their federal income tax refund is delayed. Some taxpayers direct their frustration at their accountant or tax preparer. But the fact is, the problem is usually in the lap of the Internal Revenue Service. No one is more critical of such delays than Erin M. Collins, the IRS’ own National Taxpayer Advocate, the “voice of the taxpayer” within the IRS…
Tax credits available for energy efficiency, electric vehicles and solar panels
Have you been considering making your home more energy efficient, installing solar panels or purchasing an electric car or truck? Surprisingly, you could get tax credits through something called the Inflation Reduction Act of 2022. The legislation, which was signed into law on August 16, 2022, includes expanded or extended tax credits for certain energy-related investments by consumers. Below is a simplified summary of how the Inflation Reduction Act may…
Prepare to pay (or collect) sales tax on many services in 2023 Consumers should be ready to pay — and businesses should prepare to collect — Kentucky sales tax on a host of services starting next year as a result of sweeping tax reform passed by the Kentucky General Assembly in 2022.
Dozens of services, from pet grooming and personal training to ride-sharing and meeting space rentals, will become subject to Kentucky’s 6% sales tax starting Jan. 1, 2023. The newly taxable services are part of House Bill 8, which also sets in motion the reduction of the Kentucky individual income tax rate to 4% over time (down from 6%) if certain budgetary milestones are achieved starting in 2023. The income tax…
Crypto is kind of cryptic — and it’s in Kentucky
Cryptocurrency such as bitcoin might seem exotic, something that only tech wizards, multi-millionaires, underworld spies or cybercriminals engage in. But it’s more common than you think: There are people in the Henderson area who buy and own cryptocurrency. And it’s not hard to do: Bitcoin Depot, a company that operates Bitcoin ATMs, has machines at all three Walgreen’s in Henderson as well as Sureway Eastgate that sell bitcoin and dozens…
Kentucky Farmers required to apply for an Agriculture Exemption Number
Beginning January 1, 2022, KRS 139.481 requires farmers use an Agriculture Exemption Number, instead of their driver’s license number, to make tax exempt purchases for their farm. Farmers are asked to submit an application to the Department of Revenue by mail or email. Until July 1, 2022 or until the Exemption number has been assigned, the farmer may still issue an exemption certificate by using their driver’s license number as…
Online filing and paying of Kentucky Sales and Use tax now required
Effective October 1, 2021, the Kentucky Revenue Department is requiring electronic filing and payments for all taxes that are a part of their efile system. Tax types include sales tax, consumer’s use tax, transient tax and waste tire fee. If we file these returns for you, you will not see a change in the filing/paying process. We are already using the efile system for filing and paying these taxes. If…
