Louisiana Set to Phase Out Franchise Tax, Restore Gun Tax Holiday

A flurry of tax bills are headed to the Louisiana Gov. John Bel Edwards (D) for signature, including measures that phase out the corporate franchise tax, trim tax benefits available to expanding businesses, and renew a unique sales tax holiday on guns and ammunition.

State lawmakers have passed a half-dozen consequential tax and revenue bills in the final days of the legislative session, which is scheduled to adjourn at 6 p.m. Thursday. During the final day, they will focus primarily on whether the state should “bust the spending cap” and channel additional funds into state ...