Kentucky issues 2020 withholding tax formula
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Tuesday, November 19, 2019

Kentucky issues 2020 withholding tax formula

By Payroll and Entitlements Editorial Staff

Kentucky has issued a new withholding tax formula for wages paid on and after January 1, 2020. Kentucky has 5% flat tax rate. In the withholding formula, exemptions are not taken into account, only the standard deduction, which will be $2,650. All of the tables will be reproduced in the Payroll Management Guide at ¶6308 and ¶6309 in a future release. (Kentucky Department of Revenue, 2020 Kentucky Withholding Tax Formula, 42A003(TCF) (12-2019).)

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