Louisiana Governor John Bel Edwards (D) has now issued his anticipated call for a second special legislative session in 2018 (from May 22nd to June 4th). This 14-day special session is meant to address a stated $648 million budget shortfall, commonly known as the “fiscal cliff.” This will be the sixth special session called since January of … Continue Reading
Louisiana Governor John Bel Edwards (D) recently met with leaders from the Louisiana Legislature to discuss his draft 2018 Tax & Budget Priorities, including recommendations for how the State should address the long-term issue of its current taxing and spending structure, as well as the short-term issue of the $1 billion “fiscal cliff” looming in … Continue Reading
The Louisiana Legislature’s 2017 Regular Session has now concluded, and as previously reported, numerous tax measures were proposed. Ultimately, however, much of the proposed legislation addressing long-term tax reform was largely rejected by the Legislature during the Regular Session, leaving questions currently unanswered as to how the state will ultimately address the long-term issue of … Continue Reading
The Louisiana Task Force on Structural Changes in Budget & Tax Policy recently released its recommendations to reform Louisiana’s sales and use tax, individual income tax, corporate income & franchise taxes, ad valorem property tax and economic development incentives. The highlights of the Task Force’s recommendations include: Sales and Use Tax: Expand the sales and use … Continue Reading
Louisiana Governor John Bel Edwards has released his Call for the Second Special Session in 2016. The special session will begin at 6:30 p.m. on June 6, 2016, which is 30 minutes after the regular session ends. The special session will end on June 23, 2016. The Call focuses on the Governor’s tax plan, which was released … Continue Reading
Louisiana Governor Edwards’ Transition Committee on Fiscal Matters released its much-anticipated report on the Louisiana budget and taxes. In order to address Louisiana’s structural deficit, the Transition Committee offered the following options to reform the Louisiana tax system: Reduce Louisiana’s individual income tax rates across the board, if the voters agree to eliminate the deduction … Continue Reading
There’s a children’s book, “The Goose That Almost Got Cooked,” which tells the story of a Canadian goose who takes a break from her flight south for the winter to rest at a lovely farm where the other geese are fed three meals a day. The Canadian goose thinks this is the life until discovering one … Continue Reading
Attention business taxpayers! The Louisiana legislative session is now over, and your Summer plans have now changed. Cancel your June beach trip, and prepare to get to work. ACTION ITEM: You should consider filing your 2014 Louisiana Income Tax Returns and 2015 Louisiana Franchise Tax Returns by June 30, 2015 to avoid many of the … Continue Reading
The Louisiana Legislature’s ever-evolving tax and revenue “gumbo pot” is now really getting hot! And, as of this moment, the business community is still being served up as the main course. On May 18th, the Senate Revenue and Fiscal Affairs Committee moved forward several key tax bills that have already passed out of the Louisiana House of … Continue Reading
The Louisiana House of Representatives took a major step yesterday in addressing the $1.6 billion budget hole for the 2016 fiscal year. All in, the House moved forward approximately $664 million in revenue raising bills, in spite of many protests by business and industry representatives. While the stated goal of many legislators was to have the burden … Continue Reading
Louisiana Governor Bobby Jindal today unveiled to lawmakers his new budget proposal for the next fiscal year. As was anticipated, Governor Jindal’s “recipe” for Louisiana’s current revenue and budget woes is, in part, to alter some of the state’s various refundable tax credit programs. These proposed changes are being suggested by the Governor to help plug a … Continue Reading
