48°
Baton Rouge, Louisiana
7 Day Forecast
Follow our weather team on social media

Who could pay? A look at tax bills advancing with lawmakers

9 months 6 days 9 hours ago March 03, 2016 Mar 3, 2016 Thursday, March 03 2016 March 03, 2016 10:18 AM in News
Source: Associated Press
By: APnewsNow

BATON ROUGE - Lawmakers in the House and Senate have supported varying measures to change Louisiana's tax laws. None has made it to final passage so far, with less than a week remaining in the special legislative session.

Here's a look of what some of the proposals would do and where they stand:

SALES TAX HIKE (House Bill 62)

Increase Louisiana's 4-cent sales tax by another penny on every dollar spent, starting April 1, without many of the exemptions allowed on the other four pennies of the tax.

Revenue raised: $215 million for this year's budget and $883 million annually.

Status: House passed with Oct. 1, 2017, expiration date. Senate passed with April 1, 2021, expiration date. Final version must be reconciled.

___

AIRBNB TAX (House Bill 59)

Charge a state sales tax on hotel rooms booked through short-term rental sites like Airbnb.

Revenue raised: Uncertain.

Status: Both the House and Senate have passed the bill, with modest differences. Final version must be reconciled.

___

CAR RENTAL TAX (House Bill 39)

Reinstate a 2.5 percent state car rental tax that expired four years ago, starting April 1.

Revenue raised: $800,000 for this year's budget and $5 million for the state annually.

Status: House passed the bill. It awaits debate on the Senate floor.

___

PHONE TAX (House Bill 72)

Renew the state telecommunications tax that expires April 1.

Revenue raised: $900,000 for this year's budget and $3.4 million annually.

Status: House passed the bill. It awaits debate on the Senate floor.

___

STADIUM TAX (Senate Bill 22)

Allow sales taxes to be charged at certain events at Louisiana domed stadiums and baseball facilities starting April 1, like music concerts, not for athletic events.

Revenue raised: Uncertain, with some money earmarked for the Louisiana School for Math, Science and the Arts and the New Orleans Center for the Creative Arts.

Status: Senate passed the bill. It awaits debate in a House committee.

___

SIN TAXES (House Bills 14 and 27)

Boost the cigarette tax from 86 cents per pack to $1.08 and the tax rates charged on liquor, wine and beer, starting April 1.

Revenue raised: Cigarette tax would raise $16 million for this year's budget and $46 million annually. Alcohol taxes would raise $9 million for this year's budget and $28 million annually.

Status: Both bills have stalled, awaiting debate on the House floor.

___

ONLINE SALES TAX (House Bill 30)

Provide a method for collecting state sales tax from online retailers.

Revenue raised: Uncertain.

Status: Both the House and Senate have passed the bill, with modest differences. Final version must be reconciled.

___

SALES TAX COLLECTION (House Bill 43)

Cap the amount a vendor collecting sales tax on behalf of Louisiana can receive as compensation for turning over the payment, starting April 1.

Revenue raised: $2 million for this year's budget and $8 million annually.

Status: House passed the bill. It awaits debate on the Senate floor.

___

ADVANCED PAYMENT OF SALES TAX (House Bill 54)

Change the payment schedule for businesses to submit sales taxes they collect.

Revenue raised: $75 million for this year's budget.

Status: House passed the bill. It awaits debate on the Senate floor.

___

BUSINESS TAX DEDUCTIONS (House Bill 55)

Change what businesses can deduct from their income for tax purposes.

Revenue raised: Uncertain.

Status: House passed the bill. It awaits debate on the Senate floor.

___

INSURANCE COMPANY TAX BREAK (House Bill 87)

Lessen a decades-old tax break given to insurance companies.

Revenue raised: $8.3 million in the 2016-17 budget year and $8.6 million for 2017-18.

Status: House passed the bill. It awaits debate in a Senate committee.

___

Source of revenue estimates: Legislative Fiscal Office.

More News

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days