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For businesses, the corporate income tax rate will drop from 7.5% to a flat 5.5%, and the state franchise tax will be eliminated entirely. Originally, Landry's plan proposed a rate of 3.5%.
The state’s new corporate income tax rate will be a flat 5.5%, reducing the highest tier from 7.5%. ... Louisiana's corporate income tax rate had been the highest in the South according to the ...
Republican Gov. Jeff Landry's goal to repeal or reduce the Louisiana income tax and simplify the state's convoluted tax code will have to wait until at least next year after Legislative leaders ...
Lawmakers also redirected $280 million in vehicle sales tax funds from several major infrastructure projects for the next two years in order to help offset the income tax cut. Corporate tax cuts. The state’s new corporate income tax rate will be a flat 5.5%, reducing the highest tier from 7.5%. Landry had wanted a 3.5% flat rate.
Louisiana taxpayers will have to wait at least another year before lawmakers consider eliminating the state's $4.5 billion income tax again. Republican Columbia state Rep. Neil Riser's House Bill ...
But to offset the loss of income tax revenue Landry is proposing making permanent a 0.45-cent sales tax set to expire in 2025 and adding sales tax to hundreds of services like car washes ...
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