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The port generates $100 million in revenue annually through its four lines of business – cargo (46%), rail (31%), cruise (16%), and industrial real estate (7%). As a self-sustaining political subdivision of the State of Louisiana, it receives zero tax dollars. In 1946, a foreign-trade zone was established in the port.
The ports of New Orleans, South Louisiana, and Baton Rouge cover 172 miles (277 km) on both banks of the Mississippi River. The Mississippi River-Gulf Outlet Canal (now closed by a rock dike built across the channel at Bayou La Loutre) extends 67 miles (108 km) from New Orleans to the Gulf of Mexico, and the channel up the Mississippi River from New Orleans to Baton Rouge runs at a 48-foot (14 ...
State Tax Burdens 2022 % of income. State tax rules vary widely. The tax rate may be fixed for all income levels and taxpayers of a certain type, or it may be graduated. Tax rates may differ for individuals and corporations. Most states conform to federal rules for determining: gross income, timing of recognition of income and deductions,
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Wayne Brown, who has restored historic properties in Louisiana, said the state tax credits for those projects provide seed money and represent just 10% to 20% of the cost of the projects.
It is estimated that during the period 2005-2019, the global shipping industry as a whole paid taxes corresponding to an effective corporate income tax rate of 7%, compared to the OECD average corporate tax rate of 23.7%. One of the main reasons for the favorable tax treatment was the tonnage tax arrangements of several countries. [2]
That will make Louisiana more competitive with its southern peers like Florida, Tennessee and Texas, which have no state income tax and have seen their populations and economies enjoy explosive ...
This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state, the District of Columbia, and Puerto Rico.
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