Under Democrat Joe Biden’s federal tax plan, the top marginal tax rate in Kentucky could hit 54.34 percent, according to a new analysis by the Tax Foundation.
Clay County residents were audited by the Internal Revenue Service at a greater rate than all similar jurisdictions in Kentucky, according to an analysis by the website 24/7 Wall St.
The overall tax system in Kentucky was dubbed “mixed” in a recently released 50-state tax guide published by the Kiplinger business forecasting website.
Kentucky would need $33.4 billion to pay all of its bills, including public employers’ pension benefits, according to a new ranking of the states’ fiscal health by Truth in Accounting (TIA).