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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 ...
Other changes include a doubled retirement income tax exemption for seniors, raising the threshold from $6,000 to $12,000, and the application of sales taxes to digital goods and services.
The plan also would lower corporate tax rates while replacing that state revenue by reducing tax breaks and exemptions for businesses. ... a 0.45-cent sales tax set to expire in 2025 and adding ...
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 incentives Another way landowners can be persuaded to conserve their private land is through tax incentive programs. For example, Louisiana has a tax exemption program providing tax relief for landowner that commit to specific management plans.
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 ...
Additional Homestead Property Tax Exemption for Certain Public Service Workers Amendment Provide an additional homestead tax exemption on property owned by certain public service workers . (Includes teachers, law enforcement officers , emergency medical personnel, military personnel, Florida National Guard and child welfare service employees.)
An extra tax exemption for first responders will decrease the tax revenue available to school systems and other local agencies, many of which won’t have a say on whether to enact the exemption.