Thanks to all who participated in our legislative update webinar!
Presenters from the Jones Walker State & Local Tax and Government Relations Teams provided an update on the ever-changing dynamics of the 2017 Regular Session of the Louisiana Legislature via a special webinar. With a budget shortfall for the upcoming fiscal year and a looming “fiscal cliff” in 2018, the Legislature is currently dealing with numerous spending and revenue-raising bills that will have a significant impact on businesses that operate in Louisiana, including bills to expand the sales tax base, reduce exemptions, and change the rate. Some of the proposed tax increases in this fiscal session will also likely have quickly approaching effective dates, so businesses will have to move swiftly to address the changes that affect them. Presenters also provided their insight on the political dynamics at play in this year’s Regular Session.
Now more than ever, businesses need to be actively engaged in the legislative process, as many of the tax measures working their way through the legislature and many of the longer-term tax reform measures could heavily affect businesses’ tax profiles in Louisiana.
Also, remember to SAVE the DATE for our annual State and Local Tax Seminar in Houston, Texas on October 5, 2017! More details to come!