Glasgow council approves tax retention for Sharp Carts LLC on second reading

Glasgow City Council on Tuesday approved on second reading an ordinance that would allow Sharp Carts LLC to retain — or receive a rebate of — 1% of the 1.75% occupational license fee on certain wages paid to the company’s employees in Glasgow.

Staff member Rich presented the ordinance and said the measure is tied to Sharp Carts’ application to the Kentucky Business Investment (KBI) program and preliminary approval from the Kentucky Economic Development Finance Authority. The ordinance would permit the company, for 10 years after an agreed activation date, to retain the specified portion of occupational license revenues collected from employees’ wages; the retention would not apply to other income or net profits.

Councilmember Lowery moved the ordinance; Norris seconded. Council members asked whether Sharp Carts had met employee-count or site-ownership conditions required under the KBI program and whether the 10-year term was standard. Rich said the approval is subject to Sharp Carts receiving final KBI approval and meeting all program terms and conditions.

The council then conducted a roll-call vote and approved the second reading as presented. According to the ordinance text read into the record, the retention or rebate applies only to payroll occupational license fees and the measure takes effect upon passage and publication as required by law.

Next steps: the ordinance is effective on passage and publication, but Sharp Carts must receive final program approval and satisfy KBI eligibility criteria before the rebate/retention can be activated.