Tax & Accounting Blog

Kentucky’s New System Will Assign a Single ID Number for all State Agency Filings

1042-S, 1099, ONESOURCE, Tax Information Reporting, Trust Tax April 24, 2013

Under new legislation passed by the Kentucky Legislature and signed by Governor Steve Beshear on March 21, state government will implement a new business identification system in which a business will be assigned a single identifying number. HB 343 created a new section of Chapter 14, Kentucky Revised Statutes, to require the Kentucky One-Stop Business Portal Advisory Committee to establish a system for consolidating the multiple business identification numbers currently used by a Kentucky business to a single standardized business identification number. Businesses currently registered with Kentucky government will be assigned a new ID number to use in their filings and communications with multiple state agencies.

The Kentucky One-Stop Business Portal initiative has as its objectives to establish a way for businesses to better and more easily interact with state government, make government more effective and efficient, and better target future economic development efforts. A portal was launched in late 2011 but the overall project is ongoing.

The new single business ID number will be used by the Kentucky Secretary of State office, Finance and Administration Cabinet (the tax agency), Cabinet for Economic Development, Education and Workforce Development Cabinet, and Commonwealth Office of Technology.

The new law requires these agencies to announce, no later than December 31, 2013, their timeline for implementation of the new single business ID number. Also by year-end 2013, the agencies must establish a five-year timeline for programs to use the single ID number to facilitate data sharing and continued growth of services through the One-Stop Business Portal.

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