Bills advanced to eliminate corporate tax, reduce sales taxes, and extend tax incentives for movie industry

Published: April 24, 2023

By: Claire Sullivan and Oscar Tickle, LSU Manship School News Service

Rep. Tony Bacala, R-Prairieville, proposed an early phase-out for a portion of the state’s sales tax. (Photo credit: Francis Dinh/LSU Manship School News Service)

BATON ROUGE, La. —Legislative committees advanced bills Monday to eliminate a key corporate tax, reduce sales taxes and extend tax incentives for the movie industry.

If the bills become law, they would cut state revenue by hundreds of millions of dollars at a time when many legislators are already worried that the state could be facing another fiscal cliff.

Other bills that moved forward Monday would reinstate an annual three-day sales tax holiday for purchases of guns and ammunition, provide $5 million in tax incentives for crisis pregnancy centers and exempt prescription drugs and insulin from local sales tax.

The committee actions came after the Louisiana House Conservative Caucus, which has 42 members, and the House Freedom Caucus announced they would oppose raising a cap on state spending to pay for recurring items.

Read more at KTBS

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