(I) Income tax notes:
The personal exemption takes the form of a tax credit instead of a deduction.
(II) Sales tax notes:
Kentucky has a limited liability entity tax (LLET) in addition to its 6% sales tax. Corporations pay the LLET, which is the lesser of 0.095% of gross receipts or 0.75% of gross profits. The tax phases in between $3 million and $6 million of gross receipts or profits. Minimum tax $175.
Using statistics from data services company Onboard Informatics, we crunched the numbers in order to zero in on America's best small towns for families. (Last year, we looked at small cities, with populations between 50,000 and 300,000.)
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