Rates

Notice of Ordinance Change for Taxable Net Profits: Kenton County

The County of Kenton has enacted legislation, which will change the first tier rate of the taxable net profits of those engaged in any franchise, trade, occupation, profession or other business to the following:

 

The Kenton County first tier rate has been changed from 0.7097% to 0.9097% with an annually adjusted maximum tax. This change is effective to the taxable year ending January 1, 2023 & all fiscal year ends thereafter.

 

The Kenton County second tier will remain the rate of 0.1097% with an annually adjusted maximum tax.

 

Example:

Business X has earned $250,000 in taxable net profits within Kenton County in tax year 2023.

Business X - Kenton County Tier 1 Taxable Net Profits: $80,100 (50% of current FICA CAP)

Business X – Kenton County Tier 2 Taxable Net Profits: $80,100 (Remaining to current FICA CAP)



Notice of Ordinance Change for Employer Withholding: Kenton County

The County of Kenton has enacted legislation, which will change the Employer Withholding rate to the following:

 

Gross Compensation earned within Kenton County will be subject to 0.9097% on wages up to 50% of the FICA Cap (adjusts annually) and 0.1097% on the remaining wages earned within Kenton County up to the FICA Cap (adjusts annually). The change is effective January 1, 2023. Any wages paid for work conducted within Kenton County with a check date on or after January 1, 2023 are subject to the 0.9097% rate.

 

Examples:

Employee A earned $200,000 in gross compensation within Kenton County in tax year 2023.

Employee A - Kenton County Tier 1 Subject Wages: $80,100 (50% of current FICA CAP)

Employee A – Kenton County Tier 2 Subject Wages: $80,100 (Remaining to current FICA CAP)

 

Employee B earned $120,000 in gross compensation within Kenton County in tax year 2023.

Employee B – Kenton County Tier 1 Subject Wages: $80,100 (50% of FICA CAP)

Employee B – Kenton County Tier 2 Subject Wages: $39,900 (Remaining Subject Wages up to FICA CAP)



Kenton County & Cities Rates

View yearly Kenton County and City rates.