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Louisiana’s GOP-dominated legislature passed tax cuts on personal and corporate income on Friday in exchange for a statewide sales tax increase, giving Gov. Jeff Landry much of what he wanted ...
Louisiana Governor Jeff Landry has called a Special Session on November 6 to overhaul the state's tax system including income and sales tax rates.
The biggest culprits creating what Nelson has described as the "fiscal cliff" are the expiration of a 0.45% temporary sales tax that generates $455 million in annual revenue and the expiration of ...
Louisiana lawmakers on Thursday postponed a vote on a key bill in Gov. Jeff Landry's sweeping and complex tax reform package. Most of Landry's proposed bills, granting approximately $2 billion in ...
Nearly all jurisdictions provide numerous categories of goods and services that are exempt from sales tax, or taxed at reduced rates. The purchase of goods for further manufacture or for resale is uniformly exempt from sales tax. Most jurisdictions exempt food sold in grocery stores, prescription medications, and many agricultural supplies.
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
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