is there an income tax in kentucky...what is it if there is.. ty dan?
- David545Lv 51 decade agoFavorite Answer
Yes, there is an income tax in Kentucky.
It is progressive (meaning that lower income people pay a smaller percent of their gross) and caps at about 6%.
Note: Federal Tax has a "capital gains" tax on profit from certain investments. The capital gains tax is 15%, while ordinary income is taxed as high as 35%. Kentucky has no such distinction, all income is taxed as ordinary income.
- zil28ennovLv 61 decade ago
Yes there is an income tax in Kentucky. I don't know what you mean when you ask what is is. The sales tax is 6% if that's what you're asking.
- Dennis FargoLv 51 decade ago