Effective 1/1/2023, KY now requires Sales and Use Tax to be collected from 35 new classifications
They say the only two things are certain in life, are death and taxes. Unfortunately, the second part is coming true this year.
Becoming a Kentucky Resident and Selling my last real estate holding in Pennsyvania, I have had to establish and register a new LLC in Kentucky. Fortunately, I was able to keep the name “Great Things LLC”. However 2023, I will be operating from my KY LLC and closing my PA LLC. It’s a big hassle, but the proper way of doing things.
Kentucky HB 8, imposing new taxes.
This year there are 35 new businesses that must now collect a 6% Sales and Use tax. They include Marketing Services and WebDesign Services. Great Things LLC (the new KY LLC) must comply and collect these taxes. I must collect taxes for any Kentucky residents or businesses. Until the ruling comes out from the state department, you may notice a 6% KY tax on your invoice. If it is determined as not required for out of state clients, I will refund the amount collected back to you.
Questions?
If you have any questions, please let me know. My accountant is reviewing the details of this new law and looking for expectations. For more information, this was a good article and reference.
