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Tax swap proposal advancing at State Capitol


The House Ways and Means Committee approves legislation that would eliminate the ability to Louisiana taxpayers to deduct taxes paid to the federal government on their state tax returns, but individual income tax rates would drop. House Ways and Means Chairman Stuart Bishop is the author.
“Is this going to fix all of the problems of the tax system in the state of Louisiana, in all honesty, no it’s not, but it’s a step in the right direction,” said Bishop.
Public Affairs Research Council President Robert Travis Scott says there have been studies and non-partisan groups who have suggested for years that Louisiana should eliminate the federal tax deduction and lower the income tax rate. ....

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Effort underway to lower income taxes in Louisiana -- but at a cost; here's the proposal


Effort underway to lower income taxes in Louisiana but at a cost; here s the proposal
Tyler Bridges
A complicated tax swap that would eliminate a popular deduction in exchange for lowering income tax rates passed its first step when it won approval from a Louisiana Senate committee Tuesday.
But it still has a long road to travel before it can become law, which would ultimately require a vote by the people.
Senate Bill 159, approved by the Senate Revenue & Fiscal Affairs Committee, is part of a package of bills sought by the legislative leadership that would no longer allow individuals and corporations to subtract their federal income tax payments on their state income tax returns. In exchange, individuals and corporations would be assessed lower tax rates. ....

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