Kentucky TIF Taxes

New Kentucky TIF (Tax Increment Financing) taxes to Namely Payroll soon.

OVERVIEW

Tax Increment Financing (TIF) for the state of Kentucky will soon be added to Namely Payroll. TIF is taxable to employees that are based in a specific work location within a city or county. You will need to review your employee work location data to confirm who is subject to this tax.

Ferguson Blvd TIF

The Ferguson Blvd TIF is located in Grant County and has a tax rate of 0.75%. Additionally, this is a stacked tax with the City of Dry Ridge, meaning employees working in the Ferguson Blvd TIF boundary within the city limits of Dry Ridge are subject to this tax and tax rate. Tax registration and confirmation can be completed via mail after clicking the link above.

To ensure proper compliance and correct form completion, you should notify the City of Dry Ridge if you are going to be working or delivering in the area. If you have any questions, please contact the city at (859) 824-3335. You can read more about The Ferguson Blvd TIF on the City of Dry Ridge website.

Boones Ridge TIF

As of October 7, 2021, Boone's Ridge, owned and operated by Appalachian Wildlife Foundation, a 501 (C)(3), non-profit organization and located within Bell County, has a tax rate of 2%. Tax registration and confirmation can be completed via mail after clicking the link above.

You should use your FEIN as the tax ID when configuring the tax on your site.

Walton Industrial Park TIF 

The Walton Industrial Park TIF, spanning all of Kenton County and some of Boone County, has a tax rate of While some areas of Boone County, notably the City of Walton, are subject to this tax, it will be collected by Kenton County. This area also includes the address 200 Richard Knock Hwy in Walton, KY. Tax registration and confirmation can be completed via mail after clicking the link above.

The tax should be set up using the employees' gross wages and should mirror other occupational license fee taxes and TIF's in Boone County and Kenton County. You should use your FEIN as the tax ID when configuring the tax on your site.

For All KY TIF Taxes

If you find that you have employees that are subject to any of these taxes based on the areas noted, you will need to add them manually at the employee and company level. Use the articles Adding and Editing Company Tax Codes and Rates in Namely Payroll and Adding and Editing Employee Tax Information to learn more about adding the tax to your site.