BGD partner and chair of the firm’s Tax & Employee Benefits practice group Mark A. Loyd discussed big 2016 Kentucky tax trends and issues in his latest “Tax in the Bluegrass" column for the Kentucky CPA Journal. In the issue cover story, Loyd pointed out that there is a lot going with regard to Kentucky taxes, and discussed developments and issues that are likely to continue into 2017.
In his new column, Loyd discusses the intensifying state attacks on the Quill physical presence standard, entity-level partnership audits, and recent changes in the Kentucky Department of Revenue. Loyd also discusses the potential proposal to comprehensively reform the state’s tax structure, explaining that Kentucky taxpayers and their advisors want updated, necessary and appropriately tailor and specific guidance that includes examples from the Department. He explains the recent creation of the Kentucky Claims Commission by Governor Bevin and explores the sales tax manufacturing exemptions dispute in Kentucky.