The article outlines how Kentucky Society of CPAs (KyCPA) used its advocacy efforts in 2025 to influence state policy. It highlights that through its KyCPA‑PAC, the Society successfully: updated Kentucky’s tax conformity with federal law; protected CPA licensing mobility; and passed legislation easing firm-naming rules and allowing retired CPAs to do certain volunteer work.
To help reverse this trend, Kentucky Society of CPAs (KyCPA) is partnering with Jefferson County Public Schools’s Academies of Louisville — a program across 15 high schools offering 155 career pathways — to expose students early to accounting through classroom talks, job shadows, mock interviews and mentoring.
The article explains that unlike estate taxes (which the estate pays), state inheritance taxes are paid by beneficiaries who receive assets. As of 2025, six U.S. states impose inheritance tax: Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Iowa (though Iowa’s was repealed for deaths after Jan. 1, 2025). kycpa.org In Kentucky (and New Jersey), top inheritance-tax rates reach 16 percent.
The article argues that the work-in-progress (WIP) schedule — commonly used merely for revenue recognition — can be transformed into a strategic tool for contractors. Rather than a year-end formality, monthly WIP updates can gauge cash flow, estimate-to-complete accuracy, project health and bonding strength.
This article is a follow-up to our earlier piece comparing tax policy between Kentucky and four of our closest neighbors: Tennessee, West Virgina, Ohio, and Indiana. In this article, we will move beyond general tax rates and into specific tax policies in a few key areas: 529 plans, research and development incentives, and Federal tax conformity as it relates to depreciation.
The article examines several recent Kentucky court decisions shaping tax law including: whether bulk-made salads and spreads sold by a food manufacturer are taxable as “prepared food” (the court ruled they aren’t) and how courts value leasehold interests, property and machinery for property and sales tax purposes — raising questions about tax fairness and proper valuation methods in cases involving food makers, retirement communities, retailers and manufacturers.
By Mark A. Loyd, JD, CPA Equal protection in real property tax matters – a lot to all Kentucky taxpayers. Imagine that property you lease and on which you are required to pay the property taxes is assessed at double or triple the assessment value of nearby similar properties. Imagine that in assessing the value of your property, the Property Valuation Administrator used an assessment methodology that is different from the methodology used to assess other properties in the county. What if the PVA purposefully singled you out for increased assessments? What if the PVA identified no rational basis for computing your assessment value differently from other real property taxpayers? Should that violate equal protection? Is this issue of statewide importance?
The Kentucky Society of CPAs (KyCPA) recently welcomed new members to its board of directors. The incoming board members, along with new members of the executive committee and additional members of the 2025-2026 board of directors, were recognized at KyCPA's Annual Members Meeting at The Olmsted in Louisville on June 13. They officially began their duties July 1.
Throughout the 2024–2025 fiscal year, the Kentucky Society of CPAs (KyCPA) made it a top priority to connect with members, students, educators, firms, and businesses across the Commonwealth. With more than 440 touchpoints across more than 50 cities, KyCPA’s presence was felt in communities large and small. These visits served many purposes—from advancing the CPA pipeline to strengthening relationships with current and future members.
On Friday, March 28, the Kentucky General Assembly adjourned sine die from the 2025 legislative session. With the final stroke of the gavel, we marked not only the end of the legislative session, but also the last time the Kentucky General Assembly will meet in those chambers, at least for the next few years. While the massive marble and granite structure has dominated the landscape of Frankfort for more than a century, the Capitol closed this summer for extensive renovations, with lawmakers meeting in a temporary structure next door until the work is completed.
