Tax Code Modernization Bill Heads to Kentucky Gov. Beshear

Kentucky Gov. Andy Beshear is reviewing omnibus tax legislation that would boost levies on some corporations, lower compliance burdens on some small retailers, and offer a limited tax amnesty program for delinquent taxpayers.

Both the House and the Senate approved a conference committee report late Thursday ironing out differences in HB 8, which seeks to modernize several features of the state’s tax code. The bill already has been transferred to Beshear, a second-term Democrat.

The bill would delay for two years the deferred tax deduction available to corporate taxpayers until Jan. 1, 2026. Kentucky enacted the ...