Debate On New Louisiana Business Tax Proposal Delayed

BATON ROUGE (AP) — Plans to debate a business tax rewrite that has been gaining attention in the Louisiana Legislature have been delayed.

         St. Francisville Rep. Kenny Havard, a Republican, pulled his proposal from consideration Monday in the House Ways and Means Committee. Havard wants more time to tweak the legislation.

         The bill would enact a new business tax for larger companies that file their taxes through the state's corporate income and franchise tax laws. Those income and franchise taxes would go away, replaced with what Havard calls a "profit margins tax."

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         Companies would be unable to take advantage of loopholes that let them shift losses around to lower their Louisiana tax payments.

         Havard's bill has generated interest as a way to restructure business taxation, but it's facing pushback from some business groups.


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