Get Boone County Ky Withholding Reconciliation Form

Every employee who can claim an exemption from Kentucky withholding tax must furnish their employer a signed withholding exemption certificate on Form K-4 by the start of employment.

The current tax rate for Occupational Taxes totals 2.2% (. 0220) for resident individuals, sole- proprietors, partnerships, corporations, etc. The tax rate for non-resident individuals is 1.45% (. 0145).

Note: The TIF tax rate is 2.00%. However, you receive credit for any Boone County or Boone County Mental Health tax that is withheld.

Compute tax on wages using the 5% Kentucky flat tax rate to determine gross annual Kentucky tax. Divide the gross annual Kentucky tax by the number of annual pay periods to determine the Kentucky withholding tax for the pay period.

KENTUCKY'S WITHHOLDING CERTIFICATE All Kentucky wage earners are taxed at a flat 4.5% rate with a standard deduction allowance. Page 1. 42A804 (K-4)(11-2022)

Unlike some other states, Kentucky has no local taxes and only one state payroll tax form, making it one of the easiest states to manage your company's payroll. Chapter 141 of the revised Kentucky Law requires employers to withhold income tax on both resident and non-resident employees (unless exempt from the law).

​Form K-5. Form K-5 is used to report withholding statement information from Forms W-2, W-2G, and 1099 and is completed online with two filing methods to choose from. It may be filed electronically by clicking the submit button or the completed form may be printed and mailed to the address on the form.

You may be exempt from withholding for 2021 if both the following apply: • For 2020, you had a right to a refund of all Kentucky income tax withheld because you had no Kentucky income tax. liability, and. • For 2021, you expect a refund of all your Kentucky income tax withheld.