
EMPLOYER'S RETURN of LICENSE FEE WITHHELD Form
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People also ask
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How much is the occupational license fee in Lfucg?
The Lexington-Fayette Urban County Government Charter provides that the 2.25% occupational license fee applies to all individuals, employers and businesses in Fayette County.
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What is the occupational license tax in Kentucky?
Rates range from 0.50 percent to 2.25 percent, with a median rate of 1 percent. Excluding Fayette and Jefferson, counties collected a total of $353.5 million in occupational license fees on payroll and net profits in FY 2022, making up 42.7 percent of all tax revenue.
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How much is an occupational license in Lexington KY?
Every person and business entity engaged in any business in Fayette County must obtain an initial occupational license before starting their business, and pay an annual fee every year after. Fees: The initial license fee is $100 and the annual minimum license fee is also $100.
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What is the meaning of occupational licensing?
Occupational licensing—the legal requirement that a credential be obtained in order to practice a profession—is a common labor market regulation that ostensibly exists to protect public health and safety.
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What is local occupational tax?
An occupational tax is a type of tax that is imposed on individuals or businesses based on their occupation or profession. This tax is usually paid to the local government and is used to fund public services and infrastructure.
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What is the occupational license fee in Kentucky?
An Occupational License Fee is imposed on the wages of those employees working within the city limits at the rate of 1.95% of all salaries, wages, commissions and other compensation including deferred compensation, earned for work and or services performed in the city.
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