Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support.
The Personal Exemption, which is not supported by the Kentucky income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses. The standard deduction, which Kentucky has, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction. * Note: Kentucky is different from other states in that it treats personal exemptions state tax exemptions as tax credits - which means that instead of deducting an amount from taxable income, the exemptions reduce your actual tax liability after it has been calculated. Remember that Kentucky may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your Kentucky income tax return. Qualifying deductions might include an itemized deduction, the Kentucky standard deduction, exemptions for dependants, business expenses, etc. When calculating your Kentucky income tax, keep in mind that the Kentucky state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions. Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.įor a more detailed estimate that takes these factors into account, click "View Detailed Estimate" (this will will redirect to an external website).
You can use the income tax estimator to the left to calculate your approximate Kentucky and Federal income tax based on the most recent tax brackets.