Lobbyists attempting to repeal corporate tax measure

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Since the end of the 2018 legislative session, there has been an ongoing effort by large, multistate corporations to repeal “combined reporting” – one of the few components of House Bill 487 that cleaned up rather than expanded special interest corporate tax breaks.

Kentucky’s adoption of combined reporting is an important and positive change in our tax code, closing a major loophole by requiring related corporations operating in Kentucky and other states to pay corporate income taxes based on a combined or “unitary” method of reporting. Kentucky is the 27th state to adopt this commonsense method of taxing multistate corporations.

(more at Kentucky Center for Economic Policy)

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