Bill > HB518

This bill mandates the creation and adoption of standardized forms for local business taxes, specifically for net profits, gross receipts, and payroll taxes. The Secretary of State will be responsible for developing these forms, with input from an advisory committee composed of representatives from various state organizations like the Kentucky League of Cities, Kentucky Association of Counties, and the Kentucky Society of Certified Public Accountants. This committee is tasked with developing the forms by October 2026 and submitting them to the Interim Joint Committee on Local Government for review. The Secretary of State will then file administrative regulations containing these standardized forms and electronic links. Beginning January 1, 2028, all tax districts, which are local government entities that levy taxes, will be required to accept these standard forms and associated electronic payments, unless they have an existing online filing system in place before January 1, 2025, and meet specific exemption criteria. The goal is to streamline the collection of local business taxes and fees by providing a uniform, electronic process for businesses.

Government Affairs

https://apps.legislature.ky.gov/record/26RS/hb518.html