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Madison County - Powered by Blue Grass Energy

1201 Lexington Road
Nicholasville, KY 40340
P: +1 888-546-4243

Tax Advantages

Grant-in-Aid and Skills Training Investment Credit

The competitive Grant-in-Aid (GIA) provides funding for worker training at Kentucky’s new and expanding companies and for skills and occupational upgrade training for workers of Kentucky’s existing companies. Qualified companies include manufacturers, service and technology companies, public hospitals and training consortia.

The Skills Training Investment Credit (STIC) offers state tax credits for approved training programs for incumbent employees of companies within the manufacturing; agricultural processing; telecommunications; R&D; health care; mining; tourism, tool & die; machine technology and transportation sectors.

Applications for both programs are accepted and considered for approval by the Bluegrass State Skills Corporation Board of Directors at scheduled meetings throughout the year. (http://thinkkentucky.com/Workforce/BSSC.aspx)

Additional incentives may be found at the Kentucky Cabinet for Economic Development's website by clicking here or by contacting David Stipes at dstipes@richmond.ky.us

Data Name Value
State Tax Ranks (Kentucky)
Overall 33
Corporate Tax 27
Individual Income Tax 29
Sales Tax 14
Unemployment Insurance Tax 36
Property Tax 47
State Sales Tax Rates (Kentucky)
Sales Tax 6.000%
Are Localities Permitted to Define the Tax Base? No
State Unemployment Insurance Tax Rates (Kentucky)
Minimum 0.6000%
Maximum 9.7500%
Taxable Wage Base $10,200
Most Favorable Schedule - Minimum 0.3000%
Most Favorable Schedule - Maximum 9.0000%
Least Favorable Schedule - Minimum 1.0000%
Least Favorable Schedule - Maximum 10.0000%
State Property & Capital Stock Tax Rates (Kentucky)
Property Tax Collections Per Capita $732
Property Tax Collections - Percentage of Income 1.96%
Capital Stock Tax Rate None
Capital Stock Maximum Payment N/A
Payment Options for CST and CIT N/A
Real Estate Taxes
Median Real Estate Taxes Paid   $1,206
State Income Tax Rates (Kentucky)
Corporate  
≥ $0 4.000%
≥ $50,000 5.000%
≥ $100,000 6.000%
Individual (Ordinary Income)  
≥ $0 2.000%
≥ $3,000 3.000%
≥ $4,000 4.000%
≥ $5,000 5.000%
≥ $8,000 5.800%
≥ $75,000 6.000%