2023 Kentucky State Tax Update
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Monday, October 30, 2023
8:00 am – 4:00 pm EDT
Pass-through Entity Tax Election
Presented by: C. Gahm
- Who is affected by this?
- What’s next?
Sales and Use Tax Update
Presented by: E. Ethington
- State and municipal sales tax imposition
- Use tax imposition
- Industry-specific issues:
- Recent developments
- Cases and administrative determinations
Minimizing Tax Implications
Presented by: J. Hargrove & R. Watson
- Avoiding state income taxes (and what is involved)
- Using asset protection trusts
- Creating brother-sister entities
- Moving to non-tax jurisdiction
- Avoiding BOTH federal and state income taxes
- “Retained interest” argument
- “Step-up in basis trust”
- Charitable planning strategies
- Avoiding or limiting Kentucky inheritance taxes
Kentucky Property Taxes
Presented by: D. Mudd
- Kentucky property tax relief legislation
- Real property tax issues and updates
- Personal property assessments and reporting issues
- Property tax assessment, appeal, and audit update
Kentucky Tax Litigation Update
Presented by: D. Mudd
- Resolving a state tax matter
- Kentucky Board of Tax Appeals
- Recent and anticipated decisions
- Other methods of dispute resolution
Economic Development, Business Expansion and Job Creation—Kentucky Incentives
Presented by: K. Palmer
- Overview of Kentucky tax incentive programs
- Tax increment financing (TIF)
- Workforce development incentive programs
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8.4 CPE Credits
7.0 CLE Hours
Continuing Education Credit Information
This webinar is open to the public and offers accountants 8.4 CPE credit hours (based on 50-minute hours) of intermediate-level group internet-based CPE credits in the area of taxation. Knowledge in state taxation is beneficial, and no advance preparation is recommended. NASBA Sponsor No. 103015.
HalfMoon Education Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
This webinar has been approved by the Kentucky Bar Association for 7.0 CLE credits hours.
Attendance will be monitored, and attendance certificates will be available after the webinar for those who attend the entire course and score a minimum 80% on the quiz that follows the course (multiple attempts allowed).
This course does not offer any continuing education credits in an on-demand format and is for informational purposes only.
Elizabeth M. EthingtonAttorney at Frost Brown Todd LLP in Louisville
Ms. Ethington is a Senior Associate at Frost Brown Todd LLP in its Louisville, Kentucky office, where she is a part of the firm’s Tax, Employee Benefits, and Estate Planning Practice Group. Elizabeth focuses her practice in the areas of state and local tax controversies, planning, and economic incentives. Elizabeth serves as the Co-Chair of the Louisville Bar Association Tax Section as well as a Board Member of the Kentucky Bar Association Tax Section. Elizabeth is also involved with Frost Brown Todd’s Manufacturing Industry Team including its Industrials Subteam, Consumable Goods Subteam, and Supply-Chain Subteam.
Chad GahmPartner at Cherry Bekaertin Louisville
Mr. Gahm has more than fifteen years of service in the accounting industry, including eleven years in public accounting. He has encountered a diverse set of experiences during his career, having been employed at MCM, a Big 4 firm, and in the private industry. During his time in public accounting, Chad has worked with both public and private companies in a variety of industries, with his current focus in manufacturing and real estate.
Jamie HargroveAttrorney and CPA, The Hargrove Firm in Louisville
Mr. Hargrove, an attorney and CPA, is the founder of Hargrove Firm LLP. His national law firm has physical offices across the US and is based in Louisville, Kentucky. His firm has a 50-state practice with over 150 Hargrove Firm attorneys. Over half of his practice is with tax planning for the sale of family businesses including state income tax planning strategies.
Jamie is also a co-founder of NetLaw.com which recently landed a contract with the public company that owns MoneyGuide Pro, the financial planning platform for about a third of the financial planners in the country. By year -end, NetLaw will have a single sign-on and full client data integration with MoneyGuide Pro making it seamless for financial advisors on that platform to engage with Hargrove Firm’s attorneys across the country.
Outside of the highly scalable online practice that is powered by NetLaw, and its exit planning, the Hargrove Firm handles complex tax planning and trust planning engagements for high net worth families.
Daniel MuddAttorney at Frost Brown Todd LLP in Louisville
Mr. Mudd’s practice focuses on state and local tax planning, controversy and incentives matters, including property tax, sales tax, excise tax, income tax, employment tax and local business tax, particularly for manufacturers. He also advises clients in the alcohol industry on various matters, including federal and state tax, incentive, licensing and regulation issues.
Daniel is a leader in the firm’s Manufacturing Industry Team, including heading up its Consumable & Regulated Goods subteam which oversees all alcohol, tobacco, hemp, cannabis, food, and beverage clients. He is also a member of the firm’s Technology and Innovation Committee and its Blockchain subteam due to his experience with e-commerce, digital products, cryptomining and other technology-based products and businesses.
Prior to his legal career, Daniel worked for the Kentucky Senate President’s Office during multiple legislative sessions, where he gained experience in the legislative process and the political landscape in Frankfort. From this experience, he regularly works with clients, lobbyists and legislators on tax and industry-specific legislation.
Beyond his practice, Daniel has quickly risen to obtain a prominent leadership role throughout the Bar and the community, including currently serving multiple national and local professional and industry organizations, such as the ABA State and Local Tax Committee, Independent SALT Alliance, Greater Louisville Inc.’s (GLI) Business Competitiveness Committee and GLI’s Tax Reform Task Force, Kentucky Association of Manufacturers, Kentucky Distillers’ Association, American Distilling Institute, and Kentucky Wholesale Distributors Association, to name a few. Previously, he served as the Chairman of the Tax Sections for both the Kentucky Bar Association and the Louisville Bar Association. He also helped found a local giving circle, [give 502], among other philanthropic activities. For these efforts, Daniel is recognized as a Rising Star by Super Lawyers Magazine in Tax and was selected for Business First’s 2019 Forty Under 40 Award as well as the New Face of Philanthropy Award by NFocus Magazine for his work in the community.
Kylee PalmerKentucky Cabinet for Economic Development
Ms. Palmer is the Director of Program Administration Division in the Department for Financial Services at the Kentucky Cabinet for Economic Development. She previously served as a Senior Program Manager, administering numerous cash and tax incentive programs within the Cabinet. The Program Administration Division is responsible for encouraging economic development, business expansion and job creation by providing financial support for businesses and industries through an array of financial assistance, tax credit and training programs.
Prior to joining the Cabinet in 2014, she was Director of Compliance for the Governor’s Office of Agricultural Policy. Kylee has over 16 years of work experience in state government and is a graduate from the University of Louisville. Kylee and her husband Eric are the proud parents of two girls and spend their free time on the softball field.
Ramsey WatsonPartner in the Hargrove Firm
Ms. Ramsey, has focused her practice on providing strategic counsel to high-net-worth clients designing their estate plan and on trust and estate administration for nearly a decade.
Ramsey graduated from Western Kentucky with a double major in Psychology and Political Science. She obtained a Juris Doctor from the University of South Carolina School of Law. While in law school, Ramsey interned with the Clerk of Court for the South Carolina Court of Appeals, the late Honorable Tanya Gee. Upon her graduation from law school, Ramsey served as a judicial law clerk to the Honorable Kristi L. Harrington, Circuit Court Judge for the Ninth Judicial Circuit of South Carolina. She then joined the Wiles Law Firm in Charleston, South Carolina where she focused exclusively on estate planning, probate & trust administration, and asset protection until joining the Hargrove Firm team in the fall of 2021.
In 2017, Ramsey was appointed by Mayor R. Keith Summey of North Charleston to serve on the City of North Charleston Planning Commission. Her appointment was confirmed by the North Charleston City Council and she served in that capacity until moving out of the jurisdiction in 2019.
Ramsey is licensed in Kentucky, South Carolina, and Wyoming. Beyond serving her clients, Ramsey enjoys spending time with her daughter (Ellie Grace) and her family, and she is an avid reader. Ramsey attends Southland Christian Church in Lexington, Kentucky; is a member of the University of Kentucky’s Women & Philanthropy organization; and was a member of the Junior League of Charleston for six years.