Louisiana Governor Signs Law on Credits for Local Inventory Taxes

The Louisiana Governor signed a law that amends the law governing tax credits for local inventory taxes paid in Louisiana. The law prohibits C-corporations, estates, and trusts from claiming the credit starting July 1, 2026, while allowing cooperatives and S-corporations to claim it under certain conditions. The law also extends the carry-forward period for some taxpayers’ remaining credits and limits excess credits as refundable for C-corporations, starting Jan. 1, 2025. The law takes effect June 20. [S.B. 65, enacted 06/20/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.