Proposed Sales Tax Increase

Proposed Sales Tax Increase

For Kentucky consumers, there’s a chance that shopping might be a little more expensive in a little over a year.Rep. John Sims Jr. (D-Flemingsburg) is sponsoring a bill that would raise sales tax to eight percent starting January 2021. If it passes, it would be the first sales tax increase since 1990.The bill would also raise personal property tax to six percent and motor vehicle usage tax up to eight percent.Small business owners in Eastern Kentucky say that the increase in sales tax, along with a possible minimum wage increase that is also making its way through the Kentucky House of Representatives, could really hurt them.

Source: MG News

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