KENTUCKY MARKETING TAX UPDATES
During the 2022 Kentucky legislative session, state officials passed House Bill 8. HB 8 was one of the most extensive tax reform packages passed in our state in many years.
While AAF National, with the help of other industry associations, was able to keep Advertising Services from the bill, several industry services remained. These items included Marketing Services, Research & Opinion Polling, Photography and Photo-finishing services and Website Development & Design. You can learn more about the recent tax updates in this article from Lex18.
The new services taxes went into effect on January 1, 2023. We recommend that you contact your accounting or tax professional to determine the next steps for your business. You can find more information on HB 8 and the Marketing Services tax at Revenue.KY.GOV.
The passing of HB 8 is one of the most significant threats to the economic success of the industry in the state of Kentucky. Since the bill’s passing, AAF-Louisville has been working with state and national experts to create a strategy for revising this legislation. It has been determined our best course of action is a full-court press during this legislative session is the best chance of success against this threat.
AAF-Louisville has engaged the help of a lobbying firm to help us navigate the legislative process and put our concerns front and center for this session. While AAF-Louisville has been leading the charge, it will take the collective efforts of our members and industry friends from around the state to move the needle on this issue.
HOW TO HELP OUR ADVOCACY EFFORTS
To access the resources we need, AAF-Louisville needs your financial support. Sponsorship allows us to maximize our efforts and is our best chance at fighting this legislation. As a sponsor, you are showing the industry and our community that you are invested in the economic growth and success of Kentucky businesses.
Any level of support helps! Our sponsorship form allows you to choose the amount that makes sense for you and your business.
In addition to supporting our efforts against the state marketing tax, your sponsorship includes the following:
- Recognition during the American Advertising Awards event as an Industry Defender
- Recognition in the e-newsletter
- Logo recognition on the sponsorship landing page
- Paramount and Guiding defenders receive regular updates from our lobbying efforts