Finance FAQ

Do you accept credit/debit cards?
The City of Frankfort does accept credit and debit cards to pay any taxes or fees assessed by the city. There is a nominal fee of 2.95% to use a credit or debit card.

How do I get on the City's bidder list?
The City does not have a formal bid list. Vendors/suppliers desiring to do business with the City may provide information about services/products for informational purchases to the Purchasing Department and may receive a request for bid on future procurement transactions.

How much are the Occupational Tax and the Net Profit License Fees?

LICENSE FEES

Occupational License Fee
An Occupational License Fee is imposed on the wages of those employees working within the city limits at the rate of 1.95% of all salaries, wages, commissions and other compensation including deferred compensation, earned for work and or services performed in the city.

Net Profit License Fee
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 $60.00.

Any corporation, association, individual, fiduciary, or other entity which receives income from real estate rentals with annual gross receipts in excess of $100,000 is presumed to be in the rental business, and is subject to the greater of 1.95% of the net profit or $60.00.

The Net Profit License Fee is assessed equally on both residents and non-residents performing work in the city.

PAYMENT OF LICENSE FEES

Occupational License Fee
For an employee, the employer must withhold the occupational license fee from any payment made for services performed or work done in the city. The employer is responsible to remit the employee withholdings to the city on a quarterly filing basis.

Net Profit License Fee
Each entity conducting business inside the city, not classified as an employee, must make an application for an occupational business license before commencement of activity and pay the initial $60.00 minimum license fee. Issuance of the occupation business license requires the licensee to file the annual Net Profit License Fee return for each year or part of year business activity takes place in Frankfort. The Net Profit License Fee return is due 105 days after the close of the organization's established federal tax year. Failure to file the Net Profit License Fee return results in the automatic revocation of the Occupation Business License.

How much is a Liquor License?
The fee for a liquor license is based on the type of liquor license. For the exact fee, please contact David Jones, ABC Administrator at 502-352-2079.. However, before getting a City Liquor License, you must contact the Kentucky Office of Alcohol Beverage Control (ABC) Board.

Their contact information is:

Office of Alcoholic Beverage Control
1003 Twilight Trail
Frankfort, KY 40601
Phone: (502) 564-4850
Fax: (502) 564-1442
http://www.abc.ky.gov

How much is the business license fee?
The initial fee due with the application is $60.00.

Where do I send my property tax payments and who do I make the checks to?

Payments should be sent to:

City of Frankfort, Tax Collector
315 W Second St
PO Box 697
Frankfort, KY 40602

Checks should be made out to the City of Frankfort, Tax Collector.

Who needs a business license?
Any individual, partnership, corporation, or other legal entity doing business within the city limits, is required to open and maintain a City business license. The business license fees may vary based on the type of business.

 

© 2015- 2017  ALL RIGHTS RESERVED, CITY OF FRANKFORT, KY
Website Designed and Maintained by Graphic Enterprises

The City of Frankfort is an Equal Opportunity Employer

logo_eeoc

shopify analytics tool
 

75TransparentCitySeal_2

City of Frankfort
Kentucky

City Hall
315 West Second Street
P. O.  Box 697
Frankfort KY 40601
502-875-8500
info@frankfort.ky.gov