Louisiana House passes flat income tax, cuts corporate franchise tax
1 day ago · Bills to set a 3% income tax rate and eliminate the corporate franchise tax move to the Senate. ... LSU Manship School News Service. ... The average income in Louisiana in 2022 was about $30,000 ...
Louisiana House greenlights Gov. Jeff Landry’s tax cuts - AP News
2 days ago · BATON ROUGE, La. (AP) — Louisiana’s GOP-dominated House of Representatives on Tuesday overwhelmingly passed individual and corporate tax cuts, along with a constitutional amendment — all key provisions in Gov. Jeff Landry’s sweeping tax reform package, the centerpiece of the state’s third special legislative session of the year.. The House voted 87-12 to flatten individual income tax ...
Louisiana House advances 3% personal income tax proposal, …
6 days ago · Louisiana News. Louisiana House advances 3% personal income tax proposal, moving state closer to eliminating income tax WWNO - New Orleans Public Radio ... “This is an income tax cut for everyone in Louisiana,” said Rep. Julie Emerson, R-Carencro, who chairs the committee. “The overall goal is to stimulate the economy and broaden our tax ...
Louisiana House Greenlights Gov. Jeff Landry's Tax Cuts - U.S. News ...
2 days ago · Louisiana’s GOP-dominated House of Representatives has overwhelmingly passed individual and corporate tax cuts, along with a constitutional amendment ... The House voted 87-12 to flatten ...
Louisiana Tax Reforms Would Be Win for Personal Income Tax …
2 days ago · The current proposal looks to achieve the Louisiana legislature’s eventual goal of repealing the personal income tax by moving to a flat 3% rate. To offset the revenue impact of these reductions, several revenue-raising measures focus on expanding the sales tax base through three major reforms: repealing several sales tax exemptions and ...
Louisiana flat tax bill clears first hurdle alongside franchise tax ...
Nov 7, 2024 · The flat tax proposal would eliminate Louisiana’s three graduated income tax brackets and replace them with a single flat rate of 3% on all income. It would also establish a much higher $12,500 standard deduction per filer, up from $4,500. ... Our in-depth investigations and news stories, news briefs and commentary help residents make sense ...
How Gov. Jeff Landry wants to get rid of Louisiana income tax
Nov 7, 2024 · The big picture: Landry's reform plan aims at simplifying Louisiana's 50-year-old tax code and eventually bring it in line with other conservative-led states that have no income tax at all, he said. Follow the money: Louisiana's current, tiered tax rate would flatten to 3% over the next fiscal year. Sales taxes would expand under Landry's plan ...
Louisiana governor plans to call third special session to overhaul …
Oct 1, 2024 · Louisiana Gov. Jeff Landry says that he plans to call the Legislature into a special session in November, marking the third such gathering this year, with the hopes of overhauling the state’s current tax system that the Republican said is failing residents.
Gov. Jeff Landry's proposed tax plan would move Louisiana …
Oct 9, 2024 · Follow the money: Louisiana's current tax rate is 1.85% on the first $12,500 in income; 3.5% on income between $12,500 and $50,000; and 4.25% on everything $50,000 and above. Landry's plan would simplify that structure to a …
Louisiana tax panel OKs Jeff Landry's income tax cut and corporate tax ...
Nov 7, 2024 · The main topic of Thursday’s Ways and Means hearing, House Bill 1, would end Louisiana’s three-tier graduated individual income tax system in favor of a single rate of 3%, while tripling the ...