{"id":9510,"date":"2024-01-24T10:42:20","date_gmt":"2024-01-24T15:42:20","guid":{"rendered":"https:\/\/www.greaterlouisville.com\/?p=9510"},"modified":"2024-02-09T08:58:35","modified_gmt":"2024-02-09T13:58:35","slug":"new-report-sales-tax-and-kentuckys-economic-competitiveness","status":"publish","type":"post","link":"https:\/\/www.greaterlouisville.com\/advocacy-and-legislation\/new-report-sales-tax-and-kentuckys-economic-competitiveness\/","title":{"rendered":"New Report: Sales Tax and Kentucky’s Economic Competitiveness"},"content":{"rendered":"

Today the Tax Foundation released a report titled \u201cKentucky Sales Tax Modernization: Keeping the Sales Tax on Sales, Not Production\u201d. Greater Louisville Inc. is proud to have sponsored this report along with <\/span>the Kentucky Chamber<\/span> of <\/span>Commerce<\/span>, <\/span>Commerce<\/span> Lexington<\/span> Inc., and the <\/span>Northern<\/span> Kentucky Chamber of Commerce<\/span>. The report focuses on recent improvements to the Kentucky tax code and offers guidance for increasing the state\u2019s competitiveness.\u00a0<\/span>\u00a0<\/span><\/p>\n

The report outlines the disadvantages that come along with taxing additional business inputs, like manufacturing and industrial supplies, when competing with other states. <\/span>Taxing major new categories of business inputs would hinder the Commonwealth\u2019s economic competitiveness by transforming the sales tax from a relatively competitive tax on consumption to an economically harmful tax on production. The report urges legislators to confine the impact of the sales tax to final consumption<\/span> rather than t<\/span>axing business purchases, resulting in tax pyramiding and higher prices for consumers.\u00a0<\/span>\u00a0<\/span><\/p>\n

Some of the report\u2019s key highlights include:<\/span>\u00a0<\/span><\/p>\n