Loading chat...
LA HB230
Bill
Status
4/1/2025
Primary Sponsor
Joy Walters
Click for details
AI Summary
-
Louisiana income tax credit for motor vehicle manufacturers and their suppliers who place qualified manufacturing equipment in service, with credit rates ranging from 0.5% to 2.5% of property basis depending on the asset's recovery period (3-year to 15+ year property)
-
Maximum credit capped at $10 million per qualifying taxpayer per taxable year
-
Unused credits may be carried forward up to 10 years, but cannot exceed taxes owed in any given year
-
Credits subject to recapture if equipment is disposed of before end of recovery period or removed from Louisiana; taxpayers receiving this credit are ineligible for other state tax preferences on the same activity
-
Effective January 1, 2026, with credits available only through taxable years beginning before December 31, 2031
Legislative Description
Establishes an income tax credit for motor vehicle manufacturers and motor vehicle manufacturing suppliers (OR DECREASE GF RV See Note)
TAX CREDITS
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
4/14/2025