LA SB44

Eliminates refundability of the Louisiana income tax credit for local inventory taxes paid by non-C-corporation taxpayers (manufacturers, distributors, retailers, and natural gas storage operators), replacing it with a 10-year carryforward period for excess credits

Removes refundability of the tax credit for ad valorem taxes paid on vessels in Outer Continental Shelf Lands Act Waters, instead allowing excess credits to be carried forward for up to 10 years

Eliminates refundability of the tax credit for restaurants that donate oyster shells for beneficial use, replacing it with a 5-year carryforward period for excess credits

Applies to taxable periods beginning on or after January 1, 2026

Becomes effective upon signature by the governor or lapse of time for gubernatorial action