POPULATION: 4,314,113 (2009)
LABOR FORCE: 2,080,409 (2009)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Agriculture, mining, manufacturing
EXPANDING INDUSTRIES: Professional and business services,
education and health services,
leisure and hospitality, financial
activities, service providing, natural
resources and mining
COLLEGE GRADUATES: (Age 25 and over) 20%
BASIC BUSINESS TAXES:
Corporate Income Tax: 4 percent
of first $50,000 of taxable net
income allocated to Kentucky; 5
percent on next $50,000; 6 percent
on taxable income over $100,000
Corporation Franchise Tax:
None
Sales and Use Tax: 6 percent of
retail sales price of property sold,
including utilities, that is used, consumed,
distributed, or stored; 6
percent of rental charges and cost
of admissions; no local sales tax
Property Tax: Real property is
taxed at a state rate of $0.122 per
$100 and is also taxed by local
jurisdictions at varying rates; manufacturing
machinery, telephone
equipment, and pollution-control
equipment are taxed only by the
state at $0.15 per $100 assessed
valuation
BUSINESS INCENTIVES
Kentucky Economic Development
Finance Authority (direct loans and
small business loans)
State income tax credits:
• New and expanded manufacturing,
service, and technology
businesses
• Reinvestment projects for existing
manufacturing
• New and expanded alternative
fuel, gasification, and renewable
energy facilities
• New and expanded environmental
product manufacturing
• New and expanded industry sales
tax refunds
Bluegrass State Skills Corp.
(work force training)
