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LA SB169
Bill
Status
4/4/2025
Primary Sponsor
Robert Allain
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AI Summary
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Extends eligibility for the Louisiana tax credit for local inventory taxes paid to farmers, fruitgrowers, and similar cooperative associations organized for marketing members' products, regardless of how they file for federal income tax purposes
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Allows these agricultural cooperatives to receive refunds or carry forward credits that exceed their tax liability for the year
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Creates an exception to recent restrictions that eliminated refundability of this credit for C-corporations beginning January 1, 2025
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Applies to taxable periods beginning on or after January 1, 2025
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Becomes effective upon signature by the governor or lapse of time for gubernatorial action
Legislative Description
Provides relative to the tax credits for local inventory taxes paid. (gov sig) (OR DECREASE GF RV See Note)
TAX/TAXATION
Last Action
Introduced in the Senate; read by title. Rules suspended. Read second time and referred to the Committee on Revenue and Fiscal Affairs.
4/14/2025