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Why Kentucky’s income tax is going down next year

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Why Kentucky’s income tax is going down next year


LOUISVILLE, Ky. — Kentuckians will see a reduce of their state revenue tax subsequent 12 months.  


What You Want To Know

  • The drop is triggered by laws handed earlier this 12 months
  • Based on the Division of Income, discount circumstances outlined within the invoice have been met, and Kentucky’s revenue tax charge will go down from 5 p.c to 4.5 p.c for the taxable 12 months starting on Jan. 1, 2023
  • Democratic Gov. Andy Beshear vetoed the laws however lawmakers with a Republican supermajority overrode his veto
  • Republican lawmakers say their objective is to get rid of revenue tax solely

The drop is triggered by laws handed earlier this 12 months. 

Underneath Home Invoice 8, sure income benchmarks set off a discount in state revenue tax.

Based on the Division of Income, discount circumstances outlined within the invoice have been met, and Kentucky’s revenue tax charge will go down from 5 p.c to 4.5 p.c for the taxable 12 months starting on Jan. 1, 2023.

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Republicans have stated the change will encourage individuals to maneuver to Kentucky. 

 

“Our inhabitants is flat, for probably the most half,” stated Rep. Ken Fleming (R-Louisville). “As a way to enhance the inhabitants, which is able to drive extra revenues, we have to go and take a look at what’s most essential, and that’s your private revenue tax.”

Republicans say their objective is to get rid of revenue tax utterly. 

“I believe irrespective of the place you might be on the spectrum of revenue, you’re going to be benefitting,” stated Fleming. “We’re in an inflationary interval… and each penny, each greenback we will save, that we give again into the individuals, to reimburse again the individuals, that’s a very good factor, irrespective of how small or how giant it’s.”

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The laws additionally creates new taxes on sure items and companies, reminiscent of electrical autos and ride-sharing companies like Uber.

Rep. Al Gentry (D-Louisville) and different Democrats voted towards the measure. 

He stated it shifts the brunt of the tax burden from larger earners to decrease earners. 

“The Republican majority management desires to maneuver within the course of all gross sales tax and property tax as a substitute of revenue tax,” stated Gentry. “What that does is it advantages the upper earners and it’s extra of a burden on the lesser earners, if you take a look at the quantity of taxes they should pay as a ratio to the revenue that they make.”

Gov. Andy Beshear vetoed Home Invoice 8, however lawmakers with a Republican supermajority overrode the veto. 

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Kentucky

Kentucky Women's Basketball getting back on track for a new season

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Kentucky Women's Basketball getting back on track for a new season


Last week, we saw most of the Kentucky Women’s Basketball roster move into their new home on campus, but now, we’re getting a sneak peek at what’s in store for the 2024-25 season following the team’s first week of practice.

In some new flicks released by the team, we get a glimpse into what some of the players have been working on during practice. On the left, 6-foot-5 center Clara Strack is working on post moves, Jordan Obi is chatting with assistant coach Josh Peterson, and Lexi Blue is putting some shots up.

Strack, the Virginia Tech transfer will be vital for the ‘Cats this upcoming season. The sophomore averaged 4.5 points and 4.1 rebounds per game her freshman season but didn’t show her true talents until the NCAA Tournament. The center scored 35 points over those final two games on 13-15 (86.7%) from the field.

6-foot-1 guard Jordan Obi transferred from the University of Pennsylvania for her final year of eligibility. Last season, she was named to the 2023-24 All-Ivy First Team and Academic All-Ivy. In 83 games at Penn, she averaged 13.7 points, 7.6 rebounds, and 1.9 assists per game. Obi’s ability to score on the perimeter and in the paint will be especially useful when matching up against SEC opponents.

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Incoming freshman Lexi Blue will also play a large role for the ‘Cats. Standing at 6-foot-2, the guard was ranked No. 40 in the 2024 class by ESPN. As a senior at Lake Highland Prep, Blue averaged 13.9 points, 5.1 rebounds, 1.8 assists, and 1.1 steals per game. Blue’s size and versatility make her extremely valuable for Kentucky. She seems to be the perfect pickup for the Wildcats.

We even got to see Kenny Brooks in on the action in a video posted to social media on Thursday. To me, it seems like players are getting to know each other while working hard for the upcoming season. Chemistry is key, and we saw a glimpse of that at an outside-of-practice hangout the other day. This season is shaping up to be one we’ve dreamed of for years. Hopefully, this early hard work will pay off during the regular season.





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KSP hosts second annual Classics, Customs and Cruisers Car Show

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KSP hosts second annual Classics, Customs and Cruisers Car Show


LEXINGTON, Ky. (WKYT) – Lovers of classic cars flocked to the Kentucky Horse Park Saturday morning to show off their rides and get to know some state troopers. It was the second annual Kentucky State Police Classic, Customs and Cruisers Car Show. The money raised is supporting KSP’s Kentucky Trooper Outreach Program.

“Which is a somewhat newer nonprofit, 501(c)(3) organization that we put together to benefit a lot of the community engagement and outreach programs, events, just things that we participate in year-round all across the state of Kentucky to benefit mostly children, but also families,” said KSP Sergeant Matt Sudduth.

Sergeant Sudduth says their work includes hosting community events or initiatives like the Trooper Teddy Project or their Safety Town Exhibit at The Kentucky State Fair.

“Yes, we’ve got a job to do, but also, we’re a part of the Commonwealth, and we’re here not just to serve, but we’re part of that. We’re part of the state of Kentucky, too,” said Sergeant Sudduth.

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Dozens of people brought their cars to the show, each one with a different story.

“It’s a 1978 Pace car, the first year that Corvette was ever used for a Pace car,” said Herman Feldman. “This is a 1967 Oldsmobile 442. This was my dating car in high school,” said Ronnie Ray.

For retired KSP Trooper Mark Cool, his car of choice takes him back to his days in uniform.

“I worked out of the Richmond post, and I drove one of the KSP Mustangs as part of my duties as a state trooper. So I had a place in my heart for these old cars,” said Cool.

Cool says KSP bought ten of the Mustangs back in 1985. Unlike your typical patrol vehicle, they were only used for speed enforcement. Because there are so few of them, he had to have one when they hit auction. He’s since fully restored it.

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“It’s got all the equipment that it would have had the day it was in service, got radar, VASCAR, radios, blue lights, and the sirens,” said Cool.

To support the Kentucky Trooper Outreach Program, click here.



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John Calipari reflects on Tyler Herro's time at Kentucky

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John Calipari reflects on Tyler Herro's time at Kentucky


John Calipari saw the early signs of the player that Tyler Herro would eventually become during the guard’s freshman year at Kentucky. When Herro was a freshman on the team in 2018-19, Calipari remembers that he practically lived inside the gym.

The guard would go on to average 14.0 points, 4.5 rebounds and 2.5 assists per game in being named to the All-SEC Freshman team. He also helped lead Kentucky to the Elite Eight that season.

Herro was selected 13th overall to the Miami Heat in the 2019 NBA Draft and has carved out a role as a key piece for the franchise since then. Calipari opened up on his experience coaching Herro recently on the Pat McAfee Show.

“His dad told me — and when I listen to his dad I’ve gotta take it with a grain of salt — ‘You’ll have no one work harder than him,’” he said. “And a couple of F-bombs in there if you know his dad, Chris. The kid lived in the practice facility. Literally never left the gym.

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“I don’t believe in the McDonald’s game, Four-star or whatever. Ends up being a player that Pat (Riley) absolutely loves in Miami. I was lucky because the dad was the one that said, ‘I want him playing for you.’ When I went and met the dad and mom and saw Tyler, I’m like, ‘I love this kid.’”

Herro has since grown into a starting spot with the Heat and averaged 20.8 points, 5.3 rebounds and 4.5 assists this past season. He is one of many high-profile recruits from Calipari who went on to have success in the NBA along with Julius Randle, Shai Gilgeous-Alexander, Devin Booker and several others.

He has dealt with injuries over the past two seasons but never failed to make an impact during the times he was available. He signed a contract extension with Miami in 2022 to keep him through the 2026-27 season, signifying the franchise’s belief in him as a long-term piece.

Calipari has since moved on from Kentucky to take the head coaching job at Arkansas, where he will look to build the same reputation for turning players pro. The Razorbacks are coming off of missing the NCAA Tournament for the first time since 2019 and have a completely revamped roster with some of the players who Calipari recruited to Kentucky.

We’ll see how well it works out for the coach this coming season, but players like Tyler Herro prove a reminder of the talent he attracts.

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