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Tue October 16, 2012
State Rep. Makes Suggestions for Tax Reform
When the Kentucky general assembly tackles tax reform next year, State Representative John Will Stacy says lawmakers might want to take a look at companies that do a lot of business in the state but don’t have much of a presence here. The Democrat says there are many of them. He says,
"Some of the biggest money makers in the state are businesses that don't even locate in the state. They just do business in the state. In our business nexus laws I think are out of date, and there's plenty of companies that do business here but they don't have an office in the state. So they don't pay much state taxes even though they derive a lot of business income from it."
Stacy says those are the kinds of reforms he’d support. He says he doesn’t want to increase taxes on average Kentucky citizens or businesses. Stacy is a member of the house committee on state government.