Kentucky Center for Economic Policy: Reinstating Kentucky’s Tax on Extreme Wealth a Part of Making State Taxes Fair and Adequate
ITEP Work in ActionKentucky loses an estimated $25 million a year because state lawmakers haven’t yet taken steps to recoup lost revenue from federal estate tax changes that essentially eliminated the state’s estate tax in the 2000s 1. Recognizing estate taxes generate revenue and make taxes fairer, many states have either decoupled from the federal changes or enacted their own, separate estate taxes.