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LA SB65
Bill
AI Summary
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Prohibits C-corporations, estates, and trusts from earning the tax credit for local inventory taxes paid on ad valorem taxes for payments made on or after July 1, 2026
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Allows cooperatives to earn the credit if they receive a federal income tax deduction for patronage dividends paid or allocated to members
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Permits S corporations to earn the credit only for amounts that flow-through to shareholders, in proportion to amounts calculated under R.S. 47:287.732(B), for ad valorem tax payments made on or after July 1, 2026
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Extends the carry forward period for remaining credits from five years to ten years for taxpayers prohibited from earning new credits
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Applies to income tax periods beginning on or after January 1, 2025
Legislative Description
Provides for the treatment of certain pass through entities under the inventory tax credit. (gov sig) (EN INCREASE SD RV See Note)
TAX/TAXATION
Last Action
Effective date 6/20/2025.
6/20/2025