The City of Paducah Finance Department is reminding Paducah business license holders that federal extensions expire October 15. If a business filed an estimated City of Paducah business license renewal in April, an amended return with a copy of the 2022 federal tax return must be postmarked by Monday, October 16.
Mayor George Bray said, “Let’s be honest, no one wants to pay taxes or fees. However, a taxing structure must exist to fund city services, and all Kentucky cities, including Paducah, rely heavily on payroll and business licensing for their wellbeing and growth.”
Paducah’s business licensing process is expected to generate $5.4 million in revenue for the current fiscal year. There are nearly 7700 active business license holders in Paducah.
Mayor Bray added, “Earlier this year, the Paducah Board of Commissioners selected revenue equity as a priority with a goal of making sure businesses are informed of dates and deadlines and their responsibilities. The Commission believes it’s grossly unfair for one business to pay a tax and another to avoid the responsibility. If you operate a business in the City of Paducah in any form or fashion, you are required by law to purchase a business license. We appreciate those in compliance and remind all others of your obligation.”
Revenue Manager Stephanie Millay said, “The Paducah Finance Department is working to increase its communication with the public especially related to business licensing. Last week, the Department mailed 2,560 letters to notify businesses if they have an unfiled/unpaid item outstanding on their business account. I encourage business license holders to reach out to the Finance Department at revenuepaducahky.gov if they have questions or need to close an account that is no longer in business.”
A comprehensive list of frequently asked questions and fillable forms can be found at Business License and Payroll Tax Information.
According to Paducah Code of Ordinances Chapter 106-63, any corporation, partnership, proprietorship, individual that receives or expects to receive gross receipts in excess of $600 annually in the conduct of business in Paducah is required to obtain a business license.