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1042A740 NP R 0003 Indd Revenue Ky  Form

1042A740 NP R 0003 Indd Revenue Ky Form

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And thank you for joining us here at 6:30. I'm Tom Lally, the start of a new year marks changes for millions of Kentuckians and their wallets. Various state laws passed last year go into effect. Today, including a cut to income taxes. Connor Stefan joins us in the studio with what you need to know Connor Yeah, Tom so state lawmakers voted to make these changes and did so within idea in mind. They believe Kentucky should be taxed based on consumption. Not production and we're looking at 2:00 specific laws here first. An income tax cut from 5% to 4 and a half percent so for example. If someone is making $60,000.00 a year and they used to pay roughly $3000.00 in income taxes. Now they're looking at paying about $2700.00. The other part of this is a new 6% sales tax expansion. The increase impacts 34 different goods and services. Those include things like ride sharing personal fitness training body. Modifications like piercings or tattoos and quite a few more the law will also impact how m

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