Kentucky income taxpayers got their returns in this year quicker than last year. Both tax preparation periods were affected by coronavirus.
State Department of Revenue Office of Income Tax Director Jessica Johnston said as of last Friday 1.9 million returns had been submitted. That compared with 1.6 at the mid-July tax deadline in 2020. Johnston noted the state sees about two million returns annually. “Individual income tax is extremely important for the state. It actually comprises 40% of the general fund revenue for the state of Kentucky which is more than any other tax type in Kentucky,” Johnston explained.
Next in line of percentages, according to Johnston, is the sales and use tax at about 35% followed by property taxes at around 6% and corporate levies at 5%. The filing deadline for state income taxes came Monday night at midnight. The deadline for those who filed an extension is mid-October.
If you appreciate access to this important content during this global pandemic, please help us continue to provide public service journalism and information to Central and Eastern Kentucky communities. Please make your contribution to WEKU today.
