Confused by changes to Kentucky’s sales tax laws?

Then you won’t want to miss the next

Frankfort Area Chamber Lunch & Learn

 

Tuesday, August 21, 2018  * 12:00 pm — 1:30 pm

Paul Sawyier Public Library

During the 2018 Regular Session of the Kentucky General Assembly, state lawmakers enacted tax reform. The legislation makes important changes to Kentucky’s tax code that impact many businesses and non-profits. Effective July 1, 2018, Kentucky’s sales tax laws were extended to apply to new services and admissions. Many questions have arisen regarding the proper application of the new laws.

The Frankfort Area Chamber is hosting a special Lunch & Learn on Tuesday, August 21, 2018. Tax experts Erica Horn, Associate Director of Tax Services, Dean Dorton, and Executive Director Richard Dobson, KY Department of Revenue, Office of Sales & Excise Taxes, will be educating members on the Sales Tax changes, answering implementation questions and provide an overview of the next steps for businesses in this process.

Some of the key changes in Kentucky’s 2018 tax reform include:

· Raising Kentucky’s cigarette tax by 50 cents to $1.10 per pack

· Extending the existing 6% sales and use tax to certain services

· Reducing the individual and corporate income tax rates to a 5% flat rate

· Adopting a single factor apportionment formula

· Mandating unitary combined reporting beginning January 1, 2019

· Providing a tax credit for the business inventory tax

· Conforming state tax law with the new federal law with a few exceptions.

If you are unable to attend the luncheon and would like more information about Kentucky’s tax reform, please visit the Kentucky Department of Revenue’s new website:TaxAnswers.ky.gov

This event is FREE and open to Chamber member businesses, however advance reservations are necessary. Just bring your lunch and we’ll supply the drinks. Please contact the Chamber office to make your reservation.

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Faxback Reservation Form

Fax to (502) 223-5942, or Call (502) 223-8261, or E-mail chamber@frankfortky.info

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Fax Back form to 502-223-5942 to reserve your spot

Questions??  Call the Chamber office at 502-223-8261

Or Email chamber@frankfortky.info

Reservations or cancellations must be received by 2:00 p.m. on Monday, August 20, 2018