Harper Hammers Fletcher Faux Paux

Governor Fletcher Endorses AMT:

In discussing the Alternative Minimum Calculation,e.g. TAX, Governor Fletcher told a group of Kentucky manufacturers the purpose of the AMT was "in making sure that out-of-state companies" that do business in Kentucky pay Kentucky taxes."

"But we realize that no system is perfect,"... Asked if the tax should be repealed, Fletcher said he did not think this legislative session is the appropriate time to do that. There is no consensus to do away with the tax at this time, he said, quickly adding that "if the General Assembly wants to, I’d look at it."

Billy Harper’s Response:

"Taxing unprofitable businesses, whether they’re based in Kentucky or have headquarters elsewhere, is not the way to improve this state’s business climate. Further we shouldn’t discourage out-of-state businesses from operating here, hiring Kentucky workers and contributing to the state’s economic development. What’s clear to me – and a large portion of the state’s manufacturers – is that the Alternative Minimum Tax is bad for businesses operating in Kentucky, no matter where they call home. I’ve learned this through first-hand experience as an owner and operator of manufacturing businesses in Kentucky and other states. More consideration of the negative effects of this tax is unnecessary. No more listening is needed. Now is the time for action. The state Legislature should pass legislation to repeal the Alternative Minimum Tax during this year’s session and the governor should sign it into law."