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The article examines several recent Kentucky court decisions shaping tax law including: whether bulk-made salads and spreads sold by a food manufacturer are taxable as “prepared food” (the court ruled they aren’t) and how courts value leasehold interests, property and machinery for property and sales tax purposes — raising questions about tax fairness and proper valuation methods in cases involving food makers, retirement communities, retailers and manufacturers.
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The article explains that unlike estate taxes (which the estate pays), state inheritance taxes are paid by beneficiaries who receive assets. As of 2025, six U.S. states impose inheritance tax: Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Iowa (though Iowa’s was repealed for deaths after Jan. 1, 2025). kycpa.org In Kentucky (and New Jersey), top inheritance-tax rates reach 16 percent.
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To help reverse this trend, Kentucky Society of CPAs (KyCPA) is partnering with Jefferson County Public Schools’s Academies of Louisville — a program across 15 high schools offering 155 career pathways — to expose students early to accounting through classroom talks, job shadows, mock interviews and mentoring.
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This article is a follow-up to our earlier piece comparing tax policy between Kentucky and four of our closest neighbors: Tennessee, West Virgina, Ohio, and Indiana. In this article, we will move beyond general tax rates and into specific tax policies in a few key areas: 529 plans, research and development incentives, and Federal tax conformity as it relates to depreciation.
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“I have learned so much about leadership, presentation skills, and professionalism during my volunteer time; it has served me well and will continue to serve me in the future.”
—Elizabeth Rankin, CPA, owner of ANEW 401K TPA, LLC | Member since 1998
