Select your state

Taxes

state income tax

Most states levy an income tax on their residents that is in addition to the federal income tax. Laws vary from state to state but in most states the state income tax is a tax on the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities.

There are nine states that do not have a state income tax—including Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. But New Hampshire levies a tax on capital gains and Washington state recently enacted a tax on extraordinary profits from the sale of financial assets over $250,000.

In Kentucky, like most states, there is a state income tax imposed on the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities. This is separate from and in addition to the federal income tax. Kentucky's income tax rates are structured in a graduated system, with the rate increasing as income rises. The state also allows for deductions and exemptions, which can reduce the taxable income. Kentucky does not fall into the category of states without an income tax; it actively levies a tax on income, and residents must file state tax returns each year by the same deadline as federal tax returns. It's important for residents and those doing business in Kentucky to be aware of their state tax obligations and to consult with an attorney or tax advisor for specific guidance tailored to their situation.

Legal Articles

State Statutes

As a LegalFix Member You Will Be an Important Client of Local Law Firms

For about 82¢ a day you can have a LegalFix Legal Plan that includes initial consultations with an attorney at no additional charge—and additional legal services at reduced rates—all from top law firms in your state. Don't wait—be prepared for life's inevitable legal challenges, starting today.

And ask your employer, credit union, or membership group to offer LegalFix for even better pricing.

Taxes

state income tax

As a LegalFix Member You Will Be an Important Client of Local Law Firms

Articles

Kentucky State Code

Kentucky State Code

Articles

Taxes

state income tax