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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%.
State income tax systems fall into three broad categories: fixed or flat income taxes, progressive income taxes and no income taxes. ... Louisiana: 3.0%. Massachusetts: 5%. Michigan: 4.25% ...
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 ...
The House voted 87-12 to flatten individual income tax to 3%, while increasing the standard deduction to $12,500 for individual taxpayers. ... Nov. 12, 2024, at the Louisiana State Capitol in ...
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 ...
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