On January 16, 2025, the Louisiana Department of Revenue issued Revenue Information Bulletin No. 25-009 announcing the “extraordinary measure” of continuing to administratively recognize two exemptions related to nonprofits and school-related admissions to athletic and entertainment events that apparently were inadvertently repealed (effective January 1, 2025) during the recent special session of the Louisiana Legislature.
On July 11, 2024, the Secretary of Revenue for the State of Louisiana, Richard Nelson, briefed a joint meeting of the Louisiana House Ways and Means Committee and the Senate Revenue and Fiscal Affairs Committee on the administration’s tax proposals for a potential limited constitutional convention later this summer and the upcoming 2025 Louisiana Legislative
Louisiana Senate Bill 1 of the 2023 Regular Session, which provides for a phase-out of the Louisiana corporation franchise tax, has been vetoed by Governor Edwards. SB 1 by Senator Allain would have reduced the franchise tax by 25% per year, provided certain benchmarks for deposits into the Revenue Stabilization Trust Fund were met
Unless otherwise indicated, all bills noted below have been passed by the legislature and are waiting on signature or veto by the governor. Our discussion of each bill assumes the bill is or becomes law.
SB1 by Senator R. L. Bret Allain, II
TAX/FRANCHISE/CORPORATE: Phases-out the corporate franchise tax.
SB 1 reduces the corporate franchise
In the 2022 Louisiana Regular Legislative Session, the Louisiana Legislature enacted Act 410, modifying the deadlines for filing partnership, fiduciary, and corporate income tax returns. Specifically the Act obsoleted the process by which most taxpayers obtained extensions of time to file. These changes were then implemented by the Louisiana Department of Revenue (the Department) in final
Louisiana Secretary of State Kyle Ardoin has now announced the rescheduling of the upcoming tax reform constitutional amendment votes and other Fall elections, which were to be held October 9. The Fall elections and related tax reform votes are now scheduled to be held November 13.
This change was recommended by the Secretary of
The Louisiana Department of Revenue has now issued Revenue Information Bulletin (RIB) 21-020, which provides certain income tax relief (and notice requirements) relating to Hurricane Ida relief work performed in the State by nonresident businesses or employees.
Louisiana law (Act 358, 2017 Reg. Sess.) provides for an income tax exclusion from
The Louisiana Department of Revenue has now issued two new proposed regulations regarding:
Consolidated Sales Tax Returns – Electronic Filing and Payment Requirements:
The
Louisiana’s Governor, John Bel Edwards, has now signed into law SB 36 (enacted as Act 459), which eliminates the prior 20-year carryover period limitation imposed on the available deduction for net operating losses (NOLs) for Louisiana corporate income tax purposes.
Act 459 amends La. R.S. 47:287.86(B) to provide that all NOL deductions claimed on
Louisiana House Bill 199, which would create a more centralized state and local sales tax collection system in Louisiana, has now been adopted by the House and Senate after negotiation in conference committee.
The legislative information regarding HB 199 can be found here.
The applicable conference committee report proposed by the appointed conference