John Bel Edwards on Corporations
Provide regulatory relief for small business
I am asking you to create a Louisiana Small Business and Entrepreneurship Council charged with helping small businesses remain competitive in Louisiana.
We are cutting through the red tape and giving small businesses regulatory relief that costs them money and are overly burdensome. Louisiana ranks as the 6th worst in the nation for convoluted occupational licensing requirements. We can fix that.
To ensure we are maximizing our efforts to provide regulatory relief,
I have directed my cabinet to review all regulations, especially related to small businesses, and identify areas where can provide relief.
Source: 2018 Louisiana State of the State address
, Mar 12, 2018
80% of C-corps pay no state tax; that's just not right
Our corporate income tax structure is broken. It is far too laden with credits, exemptions, and deductions that put too much of the burden of funding critical state services on individuals. In fiscal year 2015, 80% of Louisiana corporations did not pay
any state income tax. For C corps, those businesses that are taxed at the entity level, 80,000 out of 101,000 did not pay any income taxes. That's just not right. Basic fairness demands that we do better.
My proposal will ensure that those 80,000 C
corps that pay no income taxes do their part. The Commercial Activity Tax--or CAT--is based on gross receipts, but will be a minimal graduated amount for businesses with gross receipts of less than $1.5 million. Corporations with receipts of over $1.5
million will pay 0.35% of their gross receipts.
For all other businesses in Louisiana--S corps, LLCs and partnerships, there will be no percentage tax. These entities will instead be assessed with a set and graduated tax, based on their gross receipts.
Source: 2017 Louisiana State of the State address
, Apr 10, 2017
Page last updated: Jun 24, 2018