Get Ky Net Profit License Fee Return - City Of Marion 2021-2024

While Marion County government does not collect an income tax, some school districts and municipalities do. Click here to search for the tax district summary of an address.

Kentucky has a 6.00 percent state sales tax rate and does not levy any local sales taxes. Kentucky's tax system ranks 18th overall on our 2023 State Business Tax Climate Index.

Residents of Marion pay a flat city income tax of 0.75% on earned income, in addition to the Kentucky income tax and the Federal income tax. Nonresidents who work in Marion also pay a local income tax of 0.75%, the same as the local income tax paid by residents.

The Net Profits License Fee tax rate is 1%. This tax is levied and imposed on the earnings of a person, association, corporation or other entity engaged in any occupation, trade, profession or other activity conducted or performed in the unincorporated area of Shelby County.

The City of Mayfield Net Profit License Fee is levied at the annual rate of 2% the first $50,000.00, plus 1% of $50,000 thru $500,000 and ½ % over $500,000 with a minimum of $100.00 of the net profits of all occupations, trades, professions or other businesses engaged in said activities in the City.

What is a net profits license fee return? An Annual Net Profit License Fee is levied on all persons, fiduciaries, corporations, and associations engaged in the occupation, trade, profession or other business earned for work performed within the city. The rate is equal to the greater of 1.95% of the net profit or $60.

The median property tax in Marion County, Kentucky is $669 per year for a home worth the median value of $97,000. Marion County collects, on average, 0.69% of a property's assessed fair market value as property tax.

Of course, where you choose to live in Kentucky has an impact on your taxes. Campbell County has the highest average effective rate in the state at 1.36%, while Carter County has the lowest rate at a mere 0.49%.