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Tax Reform

State tax reform resources

The Kentucky General Assembly passed a significant tax reform bill (HB 487) on April 14, 2018, and it officially became law on April 27th. The below link to the Kentucky Department of Revenue's website includes changes made during the Commonwealth's last tax reform efforts and additional tax policy developments implemented up to the 2021 Regular Session. 

Most of the income tax changes are effective January 1, 2018, while most of the sales tax changes, including the expansion of the tax to certain services, are effective July 1, 2018.

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Federal tax reform resources

Earlier this year, the U.S. Congress made changes to the federal tax code with passage of the American Rescue Plan Act of 2021. The Internal Revenue Service has provided an overview of the tax changes included in the legislation. 

In addition, the Infrastructure Investment and Jobs Act that passed in November 2021 included some tax provisions as well. 

See the additional resources below for up-to-date information on federal tax changes.