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For tax year 2008 Kentucky's corporate income tax topped out at 7% making
it about average among states as a place to do business. While Kentucky's
personal income tax ranges from 2% to 6% the states gift tax and estate tax
help make Kentucky a 1 on the Tax Foundation's Personal Income Tax Ranking.
Find detailed info on Kentucky's
Business Taxes here. With no corporate income tax, business incorporated
in Nevada stand to save a substantial amount. You can incorporate a Series
LLC in Nevada. Nevada corporations also benefit from favorable asset protection
policies. See the chart below for a complete comparison on the potential
when you incorporate in Nevada vs. Kentucky:
| |
Nevada |
Kentucky |
|
State Corporate Income Tax ? |
None |
Various |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
39 |
Personal Income Tax ? |
None |
2% - 6% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
31 |
Franchise Tax ? |
|
|
Tax on corp shares ? |
|
|
Gift Tax ? |
|
|
Unitary Tax ? |
|
|
Estate Tax ? |
|
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Statutory Indemnification of Officers, Directors & Employees ? |
|
|
Charging Order Protection for Corporation ? |
|
|
Charging Order is Creditor's Sole Remedy for LLC or Corporation ? |
|
|
Highest Standard of Corporate Veil Protection ? |
|
|
Series LLC Allowed ? |
|
|
Business Court* |
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Glossary of terms
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