Kentucky Committee Looking to Tax More Pensions
By: Chris Veech
Updated: November 9, 2012
A panel appointed by Kentucky Governor Steve Beshear to recommend tax reforms is considering a proposal that would result in more retirees having their pensions taxed. The members may recommend tweaking a policy that exempts annual pensions of $41,000 or less from taxes. But the commission members are looking at decreasing that exemption to pensions of $15,000 or less. The group is scheduled to meet again November 19. They've already ruled out implementing a 6 percent tax on groceries, which would have generated some $500 million a year.
