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Louisiana taxpayers will have to wait at least another year before lawmakers consider eliminating the state's $4.5 billion income tax again. Republican Columbia state Rep. Neil Riser's House Bill ...
Major changes are coming to Louisiana in 2025—from voting rules to tax overhauls and consumer protections. ... 2025, for income taxes and Jan. 1, 2026, ... allows them to drop up to 5% of ...
For businesses, the corporate income tax rate will drop from 7.5% to a flat 5.5%, and the state franchise tax will be eliminated entirely. Originally, Landry's plan proposed a rate of 3.5%.
The rest of the century balanced new taxes with abolitions: Delaware levied a tax on several classes of income in 1869, then abolished it in 1871; Tennessee instituted a tax on dividends and bond interest in 1883, but Kinsman reports [59] that by 1903 it had produced zero actual revenue; Alabama abolished its income tax in 1884; South Carolina ...
Each year, high-income taxpayers must calculate and then pay the greater of an alternative minimum tax (AMT) or regular tax. [9] The alternative minimum taxable income (AMTI) is calculated by taking the taxpayer's regular income and adding on disallowed credits and deductions such as the bargain element from incentive stock options, state and local tax deduction, foreign tax credits, and ...
Republican Gov. Jeff Landry's goal to repeal or reduce the Louisiana income tax and simplify the state's convoluted tax code will have to wait until at least next year after Legislative leaders ...
But to offset the loss of income tax revenue Landry is proposing making permanent a 0.45-cent sales tax set to expire in 2025 and adding sales tax to hundreds of services like car washes ...
2026; 2027; 2028; Decades: 2000s; 2010s; 2020s; ... The following is a list of events of the year 2025 in Louisiana. Incumbents. State government ... 2025 in Louisiana.