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tax since 1960, but the rental of space for short-term business, entertainment, or social event purposes only became taxable on January 1, 2023. KY Regulation 103 KAR 28:051, Section 5 provides guidelines on what a renter of tangible personal property may purchase under a resale certificate.
Rental Space . Application of sales and use tax to the rental of space for meetings, conventions, short-term business uses, entertainment events, weddings, banquets, parties, and other short-term social events, pursuant to KRS 139.200 (2) (a) (effective 01/01/2023).
- The Following Services Are Subject to Tax January 1, 2023
- Changes and Additions to Sales & Use Tax Exemptions
- Extension and Modifications to Services Already Subject to Tax
- Excise Tax Changes
- Electric Vehicle Registration Fee
- Sales Tax Letters from The Kentucky Department of Revenue
- Registration and Collection of Sales & Use Tax
Marketing services – developing marketing objectives and policies, sales forecasting, new product developing and pricing, licensing, and franchise planningTelemarketing services – includes telephone, facsimile, email, and other modes of communicationPublic opinion and research polling services$6,000 de minimis threshold: services subject to tax under HB8 are now covered under this existing exemption. Once gross receipts exceed $6,000, all additional receipts will be subject to sales tax.
Extended warranty services: sales tax on these services has been expanded to include extended warranty contracts for real property, all tangible personal property, and digital property. This applie...
Campgrounds and RV parks: the 1% state transient room tax along with the various local transient room taxes is expanded to include campgrounds and RV parks.Vehicle rentals, peer-to-peer carsharing rentals, ride share services, transportation network company services, taxicab services, and limousine services: will be subject to a new 6% excise tax on g...A new electric vehicle registration fee will apply starting January 1, 2024: 1. $120 for electric vehicleowners 2. $60 for electric motorcycle and hybrid vehicleowners Electric vehicle: any vehicle that has plug-in charging capability, regardless of whether the vehicle is powered by (1) an electric motor only; or (2) a combination of an internal co...
In early November, the Kentucky Department of Revenue began contacting taxpayers by mail if the DOR thought they mayprovide services subject to sales tax starting in 2023. Receipt of this letter does necessarily indicate your company’s services are subject to sales tax. Likewise, if you did not receive a letter, that does not mean your company’s se...
Businesses already registered with a Kentucky sales tax account number should use their existing account and filing process to begin reporting these new service categories for periods on or after January 1, 2023. Businesses that do not already have a sales & use tax account should use their Kentucky One Stop Business Portalto register. Taxpayers ca...
May 19, 2023 · The average local income tax (occupational license fee) rate levied by city and county governments in Kentucky is 1.8%, going all the way up to 2.5%. Kentucky’s property tax is imposed on all real and personal property located within the state. The tax rate varies depending on the county in which the property is located.
Jun 4, 2023 · Short-term rental space: Ky. Rev. Stat. 139.480(35) has been added to provide an exemption for the rental of space for meetings, conventions, short-term business uses, entertainment events, weddings, banquets, parties or other short-term social events, if the tax otherwise imposed is paid by the primary lessee to the lessor. This exemption applies to such rentals made on or after February 25 ...
May 18, 2022 · Effective January 1, 2023, 35 more services will be subject to sales and use tax. Here’s the list: Private mailroom services, including presorting mail and packages by postal code; address barcoding; tracking; delivery to postal service; and private mailbox rentals. Residential and nonresidential security system monitoring services.
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Economic Nexus (Wayfair Law) and Internet Sales in Kentucky. Effective July 1, 2018, Kentucky law requires remote retailers outside of the state with 200 or more sales into the state or $100,000 or more in gross receipts from sales into the state to register and collect Kentucky sales and use tax. How is the $100,000 gross revenue threshold ...
