I spoke to Rep. Bill Farmer (R-88) today. Rep Farmer is a champion of repealing the KY state income tax and replacing it with a sales tax. Rep. Farmer's bill does not have a prebate provision, because he feels the amount of the prebate would be small -- the price of two cigarettes a day.
As a tax accountant, he understands the problems with the tax system we have today. He will be introducing the tax bill again in the first 2010 tax session. The second session of this year is primarily for passing a state budget so he does not believe a tax reform will be passed in this session.
The race is on to see which state can replace their state income tax and it seems KY is in the race.
Questions? Just ask!