2017 Kentucky Income Tax Calculator - Tax Year 2016

Average Family

Married, 2 dependents

$50,000 Income

-$2,579 Kentucky tax

$47,421 after tax

Upper Class Family

Married, 2 dependents

$100,000 Income

-$5,524 Kentucky tax

$94,476 after tax

Average Retired Couple

Married, no dependents

$33,000 Income

-$1,595 Kentucky tax

$31,405 after tax

You can use our free Kentucky tax calculator to estimate your 2016 state and federal income taxes as well as calculate your expected tax refund. On the next page, you will be able to enter more detailed information, such as itemized deductions and tax credits. For more information, visit our main page on the Kentucky Income Tax or Kentucky tax deductions.

How To Use The Kentucky Income Tax Estimator

Our calculator will calculate your taxable income (your reported income minus deductions and exemptions), then estimate your Federal Income Tax and Kentucky Income Tax based on the current marginal tax rates for your filing status. We can also calculate several popular federal tax deductions, including the Earned Income Tax Credit, Child Tax Credit, and American Opportunity Educational Credit. Please keep in mind, however, that we can only provide an estimate of your actual owed taxes!

If you provide your total tax withholding as found on your 2016 1099 and W-4 forms, we can also calculate both your 2016 Kentucky tax refund and your 2017 federal tax refund. If the amount withheld from your paycheck is more then you actually owe you'll receive tax refund checks from the Kentucky and the IRS, but if your withholding does not equal your Kentucky and Federal income tax debt you'll have to pay the balance on April 15th.

The Tax-Rates.org income tax calculator will generate an income tax estimate for you that taxes several common deductions and exemptions into account. Make sure you know what these common tax terms mean before using the calculator:

  • Filing Status: Your income tax filing status depends on your maritial status. Both the Kentucky Income Tax and the Federal Income Tax have different tax brackets for single filers and couples filing together. The Federal Income Tax also recognizes filing as 'Head of Household', for unmarried individuals filing supporting one or more qualified dependants. For the Kentucky Income Tax, we apply the Single tax brackets to Head of Household filers.
  • Total Earnings: Your total earnings for this tax period, including all employment income, without any deductions applied. This may also be called your gross income.
  • Standard Deduction: If you do not wish to file an itemized deduction, you may deduct the applicable standard deduction from yout gross income before calculating your Federal and Kentucky income tax. The Kentucky standard deduction for a single taxpayer is$0 . Unless you have enough qualifying expenses to claim a larger itemized deduction, you should claim the standard deduction on your Kentucky tax return.
  • Itemized Deduction: An itemized deduction is a listing of all the qualifying expenses you wish to deduct from your pre-tax income. These may include charitable donations, mortgage interest, certain business expenses, and a wide variety of other items. While small busness owners and high-income taxpayers may benefit from filing an itemized deduction, most taxpayers choose to claim the standard deduction.
  • Single Exemption: If you claim yourself as a dependant, you get a single exemption deducted from your pre-tax income. The Kentucky single exemption for an unmarried taxpayer is$0 .
  • Dependent Deduction: You can deduct one dependent exemption from your pre-tax income for every qualified person, including family and children, who lives with and is financially supported by you. The Kentucky dependent deduction for an unmarried taxpayer is$0per dependent.
  • Tax Withholding: Most employees will have a percentage of each paycheck withheld automatically for payroll tax, the federal income tax, and the Kentucky income tax. At the end of the year, your total tax withholding will be listed on the W-4 or 1099 form provided by your employer. Your withholding amount determines the amount you owe (or the size of the refund check you receive) after April 15th.
  • Tax Refund: If your the amount of money you already paid the government through tax withholding exceeds the amount you owe after all of your deductions and tax credits, you will receive income tax refund checks from the Internal Revenue Service and the Kentucky to make up the difference.

As anyone who's ever faced our 16,000+ page tax code knows, income taxes in the United States are very complicated - far too complicated to condense into simple calculator! However, for the majority of Kentucky taxpayers, a fairly accurate estimation can be made by accounting only for filing status and major deductions like your dependants and federal state income tax deductions.

Because there are thousands of special-case tax deductions and special rates for specialized income like capital gains and investments, the more complicated your average tax return is the less accurate you can expect this calculator to be. On the next page, you will be able to include more details (such as

  • If you have a simple return, you can generally expect to owelessthen your estimate if you qualify for deductions or exemptions we don't account for.
  • If you have a complicated return or have a high yearly income, this calculator may give you anunderestimateof your tax liability. We account for many credit phase-outs and special income tax rates on advanced income, but some taxes applicable to higher-income taxpayers are not calculated (such as the Alternative Minimum Tax).

Category: Paycheck

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