Kentucky small businesses interested in saving thousands of dollars in state taxes need to take action before November 1st. Richard Farmer explains.
Small businesses can apply anytime for the Kentucky Small Business Tax Credit but to use it against 2016 taxes, businesses need to apply by November first. Kentucky Cabinet for Economic Development spokesperson Jack Mazurak says the credit is available to businesses with fewer than fifty employees that hired at least one new full time employee and invested at least $5,000 in qualifying new equipment or technology. To apply, go online to kentuckytaxcredit.org or call 1800-626-2930.