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Should Kentucky Tax Professional Services As A Way To Raise Revenue? An Economic Analysis Of Possible Revenue Options, Meghan Mando
Should Kentucky Tax Professional Services As A Way To Raise Revenue? An Economic Analysis Of Possible Revenue Options, Meghan Mando
MPA/MPP/MPFM Capstone Projects
Currently Kentucky is facing a budget deficit of $108 million dollars for the fiscal year 2010. As some lawmakers search for revenue options, one possibility is to consider a sales tax on professional services.
Professional services are considered any kind of service that requires skill, knowledge, reputation, ethics, and creativity. For the purpose of this study, medical services are not included in this category. Many of the services are infrequent, such as the services of an attorney or an accountant. A professional services tax could be used for both businesses and individuals, or could make businesses tax exempt. As of …