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LA HB383
Bill
Status
Engrossed
5/19/2025
Primary Sponsor
Ken Brass
Click for details
AI Summary
- Extends the termination date for C-corporations to claim the income tax credit for local inventory taxes paid from July 1, 2026 to July 1, 2028
- Reduces the credit amount by 50% for taxable periods from July 1, 2026 through June 30, 2027
- Reduces the credit amount by 75% for taxable periods from July 1, 2027 through June 30, 2028
- Credit amounts exceeding a C-corporation's tax liability are no longer refundable and may only be carried forward against future Louisiana corporation income tax liability
- Effective January 1, 2026, with an estimated state revenue impact of -$130,000,000
Legislative Description
Postpones the termination of a tax credit for C-corporations for local inventory taxes paid but reduces the amount of the credit for those taxpayers (EG1 -$130,000,000 SD RV See Note)
TAX CREDITS
Last Action
Read by title and returned to the Calendar, subject to call.
6/4/2025
Committee Referrals
Revenue & Fiscal Affairs5/20/2025
Ways and Means4/3/2025
Full Bill Text
No bill text available