11:53am

Fri December 7, 2012
State Capitol

Commission Recommends $690 Million in New Taxes

Kentucky’s Blue Ribbon Tax Commission has made its recommendations to reform the state’s tax code, which officials say would boost revenues by nearly $690 million. Gov. Steve Beshear created the group to study and recommend tax reforms. According to a University of Kentucky report commissioned by the state, Kentucky's "tax revenue failed to keep pace with the economy or declined more than the economy," over the past decade. The commission held its final meeting Thursday and considered several corporate, sales and individual tax changes, but it’ll be up to the General Assembly to pass the necessary bills.