Louisiana’s 2023 Regular Legislative Session has officially adjourned sine die.
At the outset of this year’s fiscal session, Legislators introduced numerous measures aimed at implementing significant tax reform for Louisiana. These initial proposals included the elimination of the individual income tax, the gradual reduction or phasing out of corporate income and franchise taxes, the termination of the inventory tax, a reduction of the temporary 0.45% state sales tax rate, and other related measures. However, with it being an election year and most of Legislature’s focus centered around state budget discussions, several of these tax proposals were met with concerns over their fiscal impact and struggled to maintain enough momentum to make it to the finish line.
Mark your calendars to join us in a discussion surrounding the results of Louisiana’s 2023 Legislative Session. On Tuesday, June 20th at 10 am CST, Advantous Co-Owner & Partner, Jason DeCuir, will join our team of state & local tax experts for a webinar to break down the tax measures that have moved through this year’s fiscal session.