Tax Planning & Business Advisory in Louisville, KY
Framework Advisory is a Louisville firm. We plan taxes and advise owner-led businesses year-round, not just at filing time, with the most depth in the industries Louisville runs on: contractors and the trades, real estate, manufacturing, medical practices, and product sellers.
Call (502) 805-7768 or book a free consultation.
What's different about running a business in Louisville
The federal return is the same everywhere. These are the layers a Louisville business owner deals with that a generic online service tends to miss.
Louisville Metro occupational license tax
On top of federal and Kentucky income tax, a Louisville business files a net profits license tax return with the Louisville Metro Revenue Commission, and employers withhold occupational tax from wages. It is its own return with its own deadlines, and it is easy to miss in the first year of a new entity.
Work outside Jefferson County
Other Kentucky cities and counties levy their own occupational license taxes. A contractor or service business that does work in more than one of them can owe tax in each, with net profits apportioned between them, instead of only paying Louisville.
Kentucky's LLET on top of income tax
Most LLCs and corporations owe Kentucky's Limited Liability Entity Tax in addition to regular income tax, including some that owe little or no income tax. It belongs in the entity decision, not discovered after it.
Crossing the river
Kentucky and Indiana have a reciprocal agreement for wages, which helps employees who live on one side and work on the other. It does not cover business income, so a Louisville business with work or owners in Southern Indiana still needs the Indiana side handled.
Inventory is taxed as property
Kentucky taxes business tangible property, including inventory, through an annual property tax return, and offers an income tax credit for inventory tax paid. Manufacturers and product sellers should be claiming that credit every year.
Louisville industries we specialize in
Common questions
Is Framework Advisory based in Louisville?+
Yes. The firm started in Louisville and it is still home base. We also hold licenses in eight other states and work with clients outside Kentucky through our secure client portal.
Is Framework Advisory the same firm as Gorman Hardin CPA & Consulting?+
Yes. Gorman Hardin CPA & Consulting is the firm's former name. Same people, same phone number, (502) 805-7768.
What local taxes does a Louisville business have to file?+
Beyond federal and Kentucky returns, most Louisville businesses file a net profits license tax return with the Louisville Metro Revenue Commission and withhold occupational tax from employee wages. Work done in other Kentucky cities or counties can create filings there too.
Do you only work with Louisville businesses?+
No. Louisville is home, but everything runs through the same portal wherever you are, so clients across the other states we're licensed in get the same advisor and the same process.
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