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On June 30, 2023, Governor John Bel Edwards announced that he has taken final action on the passed bills from Louisiana’s 2023 Regular Session.
Of the final action taken, Governor Edwards signed forty-eight tax measures into law and vetoed two tax measures. The two vetoed measures were Senator Brett Allain’s SB 1 and SB 6. SB 1 would have modified current provisions in law pertaining to the reduction of the corporate franchise tax to provide for a reduction of the tax over a six-year period by 25% in each year that certain revenue collection thresholds are met. The bill’s tied legislation, SB 6, would have reduced the capital expenditure and sales tax rebate portions of Louisiana’s Quality Jobs Program up to 50% as a “pay-for” for any potential reduction of the corporate franchise tax.
Advantous’ team of state and local tax experts actively tracked all key tax-related measures introduced during Louisiana’s 2023 Regular Session on behalf of our clients, partners, and stakeholders. The following is a summary of all key tax measures that were signed and vetoed by Governor Edwards:
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. However, with it being an election year and with the 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.
Texas' 88th Regular Legislative Session convened on Tuesday, January 10th and is set to adjourn on Monday, May 29th. The state’s Regular Legislative Session takes place every two years and lasts for 140 days. Throughout the 2023 Session, the legislative body has...
Louisiana’s 2023 Regular Legislative Session will convene on Monday, April 10th. This year’s Regular Session is fiscal in nature, meaning legislators face subject-matter limitations when filing bills. Legislators may file any bill that pertains to the list of fiscal...