Bailey Roese

Sep 13, 2024 | lexology.com | Mark Loyd |Bailey Roese |Stephanie M. Bruns

When you think about technology, what’s hotter than AI? Can AI be used to help provide tax advice? Given the subject matter, why not ask Google’s Gemini, available at gemini.google.com, and OpenAI’s ChatGPT, available at ChatGPT.com? Let’s start with the basics. What Is AI?

Jun 12, 2024 | lexology.com | Mark Loyd |Bailey Roese |Stephanie M. Bruns

Several changes to Kentucky’s tax code would enhance Kentucky taxpayers’ rights and increase fairness to Kentucky taxpayers. What is fairness anyway? Fairness is described as “lack of favoritism toward one side or another” by Merriam-Webster Dictionary, “evenhandedness” by Dictionary.com, and “the quality of being reasonable, right, and just” by Collins Dictionary.

Apr 23, 2024 | lexology.com | Mark Loyd |Bailey Roese |Stephanie M. Bruns

Businesses and individuals owning real estate in Kentucky valued at $1,000,000 or more for tax purposes should act now to reduce their Kentucky real estate tax bill. Long-term lessees obligated to pay property taxes should also take action. It’s Now or Never! Request a conference with the Property Valuation Administrator (PVA) for the county in which your property is located before the “open inspection” period ends on May 20, 2024.

Mar 13, 2024 | lexology.com | Mark Loyd |Bailey Roese |Stephanie M. Bruns

So, your company or your client got audited by the Kentucky Department of Revenue and you find out that it is not going to be a “no change” audit, and instead, the Department has informed the taxpayer that they are going to receive an assessment. What do you do? The Tax AuditFirst, be on the lookout for one or more Notices of Tax Due in the mail.

Dec 29, 2023 | lexology.com | Mark Loyd |Bailey Roese |Stephanie M. Bruns

Following are some of the biggest state and local tax issues across the country!Alternative ApportionmentOne size does not fit all. State and local statutory standard apportionment formulas determine the “slice” of the income tax base “pie” on which a particular state or locality may impose its income tax.