From the Capitol
2:44 pm
Tue April 10, 2012

Tax Commissions Hears Past Reports, Delays Picking A Consultant

Scott Steiner-Wikimedia

A commission tasked with coming up with elements of a new tax code for Kentucky held its second meeting in Frankfort today.

The group is chaired by Lieutenant Governor Jerry Abramson and is made up of business leaders from across the state.

During the all-afternoon meeting, the group received overviews of the dozen tax commissions that came before the current one.

And while giving the highlights, Greg Harkenrider, an economist in Governor Steve Beshear’s administration, told members that one change won’t cure all ills.

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Tax Deadlines Pushed Back
8:35 am
Mon April 9, 2012

KY Taxpayers Get Extra Days This Year to File

The Kentucky Department of Revenue is reminding taxpayers this year they’ll have two extra days to file their income taxes.  The 2012 deadline is April 17th because of Emancipation Day, a holiday observed in the District of Columbia which falls on Monday, April 16th.  By law, D.C holidays affect tax deadlines in the same way federal holidays do.  All valid six month extensions filed on or before April 17th will extend the due date for filing until October 15th.   Also, the IRS is postponing certain tax deadlines for those who reside or have a business in a disaster area until May 31st.

Rural Taxes 101
3:57 pm
Fri March 23, 2012

Tax Advice for Farmers

Floods in 2011 and this year’s tornadoes could complicate the tax returns filed by Kentucky farmers.  For example, when farmers receive an insurance check for damaged crops, IRS spokesman Luis Garcia says they must claim that money as income.  And, if bad weather forces the early sale of livestock, Garcia says that income can sometimes be claimed on next year’s tax return.

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KY Tax Reform Commission Meetings
8:10 am
Mon March 5, 2012

KentuckyY Tax Reform Commission to Hold Public Meetings

Kentucky Governor Steve Beshear's tax reform commission is scheduled to hold its first meeting public meeting next week. Beshear announced Friday members will meet at the Kentucky Transportation Cabinet headquarters in Frankfort tomorrow. The commission was set up to review the Commonwealth's tax code and recommend changes to better enable the state to withstand economic downturns and to make taxes more equitable for taxpayers. The recommendations are expected by November 15th.

Investigation Uncovers More Crimes
4:02 pm
Tue February 28, 2012

Tax Fraud Investigation Leads to Drug Arrest

A Murray Police Department investigation of a case of tax preparer fraud has led to one arrest and additional drug charges. Officers served a search warrant Monday afternoon at the business FO SHO DOUGH TAX following a tip of suspicious account activity by a local bank. A search of the business and residence of owner Silvia Jones turned up over 10,000 dollars in cash and four pounds of marijuana. Police arrested 20-year-old Anna Urquhari at the Jones residence on charges of trafficking marijuana.

Expanded Gambling Debate
10:28 am
Tue February 21, 2012

Catholic Bishops in Kentucky Come Out Against Gambling Bill


Catholic bishops have issued a stern warning about the potential consequences if Kentucky lawmakers
approve a proposal to legalize casinos.   Catholic Conference of Kentucky executive director Patrick

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Government & Politics
8:02 am
Fri February 10, 2012

Beshear Appoints Tax Reform Commission

Kentucky Governor Steve Beshear has appointed a 23-member ‘blue ribbon commission’ to study the state's tax system and propose a reform plan. The commission will be headed by Lt. Governor Jerry Abramson and will review the state's current tax system and make recommendations by November 15th. Beshear says the state needs to ensure it has a tax system that produces adequate revenue to meet Kentuckians’ needs. He also says tax revenue has been growing at a rate of 70 to 75 percent of the economy's growth and state government has cut spending by $1.3 billion.

Government & Politics
3:34 pm
Thu February 9, 2012

Beshear Unveils Tax Commission Members

Governor Steve Beshear has put together a bipartisan group of 23 Kentuckians to serve on his tax commission.

The group is made up partially of lawmakers from each party, although they won’t be able to vote on commission issues. Other members include former University of Kentucky president Lee Todd, banker and Republican fundraiser Marion Forcht, and Louisville businessman Junior Bridgeman.

The commission's recommendations for changes to the state tax code are due by November 15, well after the current legislative session ends.

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Government & Politics - WKMS
2:39 pm
Mon February 6, 2012

Beshear Wants Commission to Examine Barrel Tax

Kentucky's bourbon distillers may soon be getting one of their biggest wishes… a change in the barrel tax.

The tax, named because it charges property taxes on bourbon aging in barrels in distillery warehouses, is one of its kind.

But other alcoholic beverages made it the commonwealth aren't subject to the same taxes, Beshear says.

It is the only such tax in the world and it's not assessed in Kentucky on any other alcoholic beverage such as beer, vodka or scotch whiskey, he said.

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