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(The Center Square) — Louisiana lawmakers have finalized a sweeping overhaul of the state's tax system, passing a package of reforms aimed at reducing income taxes, increasing sales taxes, and ...
The proposed amendment provides that no moneys derived from taxes, fees, excises, or license taxes, relating to registration, titles, operation, or use of vehicles or public highways, roads, streets, bridges, mass transit, intercity passenger rail, ports, or airports, or motor fuels, including bond proceeds, shall be expended for other than ...
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 ...
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 ...
The U.S. Energy Policy Act of 2005 established a federal income tax credit of up to $3,400 for the purchase of new hybrid vehicles, purchased or placed into service after December 31, 2005. [1] [2] Vehicles purchased after December 31, 2010 are not eligible for this credit.
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.
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.
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 ...