Our firm provides outstanding service to our clients because of our dedication to the three underlying principles of professionalism, responsiveness and quality.

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Our firm is one of the leading firms in the area. By combining our expertise, experience and the energy of our staff, each client receives close personal and professional attention.

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Companies who choose our firm rely on competent advice and fast, accurate personnel. We provide total financial services to individuals, large and small businesses and other agencies.

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Kentucky Small Business Tax Credit

The Kentucky Small Business Tax Credit (KSBTC) Program allows eligible small businesses paying taxes to apply for a Kentucky state income tax credit.  

You may be eligible!

Keep reading...

  • Eligibility....most for-profit businesses with 50 or fewer full-time employees are eligible.
  • Have you hired at least one new employee within the past 24 months AND invested at least $5,000 in new equipment or tecnology?
  • Open to all industry segments including retail, service, construction, manufacturing, wholesale, and others.
  • Tax credit amount range from $3500 to $25,000 per calendar year depending on number of eligible positions added and amount of qualifying equipment and technology investments.
  • Tax credit applies to state tax return for the year it was awarded with a five year carry forward (and is non-refundable).
  • Full-time eligible position = average at least 35 hours per week; on the company payroll for at least one year; average hourly wage at least $10.88 per hour; and subject to Kentucky income tax.
  • Eligible positions must increase the number of full-time employees over the base number of full-time employees at the business in order to be awarded a tax credit.
  • Qualifying Equipment and Technology = minimum $5000 total investment; purchased within six months before or after creating an eligible position; tangible property purchased by the business for use in the business; per-unit cost of $300 or more; expected useful life of more than one year; non-allowable costs such as rebates, refunds, tax, labor, installation, delivery, etc. are excluded.

Contact Our Office Today

You may qualify and benefit!  Let us help you with the Kentucky Small Business Tax Credit process today!

Lexington, KY Accounting, WR Ramsey & Associates Inc.

WR Ramsey & Associates Inc. | 3201 Summit Square Place, Ste 100, Lexington, KY 40509 | Phone: (859) 268-0765 | Fax: (859) 269-0608 | info@wrramseyassoc.com