Louisiana Business Taxes Grew At A Rate Unmatched By Any Other State

"...No element of the Louisiana business tax code has been left untouched since 2015 in an effort to boost collections."

The Baton Rouge Business Report explains:

Over a two-fiscal-year period—from July 1, 2016, to June 30, 2018—companies doing business in Louisiana saw the nation’s greatest annual increase in business taxes, with state and local business taxes rising at a 12.5% clip to an estimated $10.1 billion annually.

In a report released today, research conducted by Ernst & Young along with the Council On State Taxation and State Tax Research Institute found the rate at which Louisiana business tax collections grew was not only significantly higher than the 2% national average but was also well above the 4.9% growth rate of Florida, next-highest Southern state.

The Louisiana Association of Business and Industry says the state’s hefty business tax burden can be traced back to more than two dozen permanent state laws passed since 2016 that ultimately raise business tax collections by some $3 billion. A handful of temporary tax changes have also come and gone during the three-year period.

“Louisiana’s complex tax structure has faced continuous change in recent years,” says LABI Senior Vice President Camille Conaway in a prepared statement. “Income taxes, franchise taxes, sales taxes, and property taxes—no element of the Louisiana business tax code has been left untouched since 2015 in an effort to boost collections. And still, the tax code is arguably the most complicated it has ever been.”

LABI President and CEO Stephen Waguespack took it a step further, saying the additional $3 billion in state taxes over three years have contributed to Louisiana’s lagging unemployment rate, economy and workforce participation levels.

“Our elected leaders should stop relying on increased government taxes, spending, mandates and lawsuits as the best way to provide improved economic opportunities for our people,” he says. “The data clearly shows that approach is not working.”

Previously: 

2 days, 15 hours ago

Virginia Democrats Voted to Allow Schools to Refrain from Reporting Sexual Battery in 2020

Virginia Democrats passed a law allowing schools to refrain from reporting instances of sexual battery, stalking, and other crimes occurring on school property in 2020

3 days, 11 hours ago

Sen. Tim Scott endorses McMaster in South Carolina governor's race

U.S. Sen. Tim Scott didn't endorse a primary candidate in South Carolina's 2018 gubernatorial race, but for 2022, he's offering an early nod to incumbent Republican Gov. Henry McMaster.

4 days, 14 hours ago

Youngkin says education is top issue in Virginia governor race: 'Parents are absolutely angry'

Republican Virginia gubernatorial candidate Glenn Youngkin on Tuesday referred to education as the top issue in the state's election

4 days, 17 hours ago

Abbott Completely Bans Vaccine Mandates By Any Employer In Texas

"The Biden Administration is now bullying many private entities into imposing COVID-19 vaccine mandates."

5 days, 17 hours ago

Gov’s campaign paid $87.5K more to ex-staffer

Gov. Michelle Lujan Grisham’s campaign paid an additional $87,500 over the past six months as part of a settlement with a former staff member who had accused her of sexual mistreatment during a 2018 meeting

1 week, 1 day ago

Arizona border just as ‘out of control’ as Texas, Gov. Doug Ducey warns

Border Patrol agents in western Arizona’s Yuma region have encountered 1,038% more suspected illegal immigrants year-over-year.