UPMIFA: Highlights Not-for-Profit Organizations Should Note
Since 1976, KRS have included provisions of the Uniform Management of Institutional Funds Act (UMIFA), which provided guidance concerning the management and investment of the donor restricted endowment funds of charitable organizations. Effective today, July 15, 2010, the Commonwealth enacted new legislation and KRS now include provisions of the Uniform Prudent Management of Institutions Funds [...]
2010 Kentucky General Assembly
Proposals to Expand the Sales Tax, Not as Simple as it Sounds! Things are moving as expected in the Kentucky General Assembly. The Governor recently presented his 2010 – 2012 budget proposal last week. Legislators are now working on their own budget proposal, and there is much speculation about what their proposal will be. All [...]
Budget Proposal Tax Alert
The Kentucky House, led by Speaker of the House Greg Stumbo, will present their 2010-2012 budget proposal this week. It will differ from Governor Beshear’s proposal a few weeks ago. The most prominent difference will likely be the absence of any revenue from expanded gaming.
IRS Issues New Form W-11 for the New Hiring Incentives
Under the recently enacted Hiring Incentives to Restore Employment (HIRE) Act, two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. The IRS has issued a new form (Form W-11) to document qualified employees.
Revenue Proposals Released by Kentucky House
Many different ideas have been discussed about how to increase state revenue. Yesterday evening, details were released about several revenue measures that are being proposed in Kentucky’s House of Representatives. These proposals, which are in House Bill 530, are part of the plan to balance Kentucky’s 2010 – 2012 budgets. Proponents of the changes say [...]
