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Major Tax Overhaul Goes Before Louisiana Voters in October

June 14, 2021, 9:03 PM

Louisiana voters this October will decide whether to adopt the most expansive state tax overhaul in decades by cutting individual and corporate rates and the corporate franchise tax.

Lawmakers last week endorsed a flurry of bills in the final days of the 2021 regular legislative session that would cut rates under a tax-swap plan that relies on the elimination of the state deduction for federal income taxes paid. The revenue neutral tax trade could prove tricky because the federal income tax deduction is enshrined in the state constitution, requiring voters to approve an amendment in less than four months.

A ...