LA HB666

Reduces individual income tax rate from 3% to 2.9% and corporate income tax rate from 5.5% to 5.4%, effective January 1, 2026

Imposes a 5% state sales tax on 13 categories of newly taxable services including cable/satellite TV, rideshare transportation, lobbying services, spa services, photography, travel agencies, tanning/tattoo services, and security services

Prohibits local governments from taxing these 13 newly taxable service categories; the 5% state tax replaces any potential local sales tax on these services

Creates the Local Revenue Fund in the state treasury to receive proceeds from the new services taxes, with funds distributed to parishes to offset losses from business inventory ad valorem tax exemptions

Waives penalties for businesses that fail to properly collect or report the new services taxes during a six-month transition period (January 1 - June 30, 2026)