John Bel Edwards’ commercial activity tax proposal released

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The centerpiece of Gov. John Bel Edwards‘ tax overhaul was filed Monday (April 17), two days before the final deadline to submit legislation and a week after the Louisiana Legislature’s session opened.

State Rep. Sam Jones, D-Franklin, has submitted House Bill 628, which would create the Commercial Activity Tax: a relatively low, but broad, tax on most business sales. Jones was the governor’s best friend in the House, where the two men sat next to each other.

“Every corporation, partnership, limited liability company, limited liability partnership, limited partnership, estate, trust, or association, whether domestic or foreign, exercising its charter, or qualified to do business or actually doing business in this state, or owning or using any part or all of its capital, plant, or any other property in this state, subject to compliance with all other provisions of law, shall pay an annual commercial activity tax,” reads the bill

 

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Posted in: LOGA News

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