Louisiana’s special legislative session ended with lawmakers agreeing to tax increases and spending cuts, many of which are temporary, in an effort to address a budget deficit for the fiscal year beginning July 1, 2016.
Among the corporate income and franchise tax provisions are measures that:
The legislature also passed bills that expand the state’s sales and use tax nexus rules; that impose limits on compensation allowed vendors for collecting and remitting sales and use tax on behalf of the state; and that impose limits on the exclusions and exemptions previously available for sales and use tax purposes. In general, the effective date for the sales and use tax changes is April 1, 2016.
There is also a new 1% (one percent) state-level sales and use tax that will be effective April 1, 2016, through June 30, 2018.
Read a March 2016 report [PDF 191 KB] prepared by KPMG LLP: Louisiana: Special Session Bills Signed Into Law
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