December 2, 2013 11:51 AM
BATON ROUGE - The Louisiana Department of Revenue hasn't been making sure oil and gas companies pay all their severance taxes, according to a new audit.
Legislative auditor Daryl Purpera says the state could be missing out on millions of dollars it is owed.
Oil and gas severance... more »
November 21, 2013 8:01 AM
BATON ROUGE - Efforts to set up a new office aimed at collecting state government's back-owed debts are underway in the Department of Revenue.
The state's Cash Management Review Board receives an update Thursday on the creation of the Office of Debt Recovery.
Lawmakers established the office in... more »
October 11, 2013 11:44 AM
BATON ROUGE - Higher revenue forecasts and low interest rates have Louisiana's construction projects back on track.
Louisiana had been close to its constitutional limit on debt.
State Treasurer John Kennedy said the money to pay for ongoing construction was running out, with no room to borrow more.... more »
September 22, 2013 5:03 PM
BATON ROUGE - As Louisiana's latest amnesty program for delinquent taxpayers begins Monday, state officials are grappling with dueling concerns as they urge people to pony up what they owe. Lawmakers and Gov. Bobby Jindal's administration need the program to help drum up $200 million in back-owed taxes to balance... more »
September 19, 2013 11:55 AM
BATON ROUGE- A new law is causing problems for the group that forecasts Louisiana's income.
The law requires the Revenue Estimating Conference to determine which dollars from fees and other dedicated funds are expected to appear annually, in hopes that could lessen future state budget shortfalls. Those estimates determine... more »
August 15, 2013 3:53 PM
NEW ORLEANS - Louisiana's statewide casino winnings are up from a year ago, even though the take fell at 10 of 19 riverboat casinos and three of four racetrack slot machine casinos. State figures released Thursday show that two riverboats that opened within the past year made most of the... more »
June 28, 2013 10:52 AM
BAYOU CORNE - While some people living near a giant sinkhole in Assumption Parish are trying to get a fair buyout deal for their property, one concern for the parish are property taxes from that area.
People affected by the Bayou Corne sinkhole were given breaks on their property... more »
June 20, 2013 3:11 PM
NEW ORLEANS - Sixteen of 18 state-regulated casinos won more money in May than in April. But five riverboats and a racetrack, all in west Louisiana, won less than in the previous May.
Figures released Thursday show that overall, gamblers lost $214.2 million - $17.8 million more than in... more »
June 6, 2013 11:23 AM
BATON ROUGE - Gov. Bobby Jindal officially has a new revenue secretary, months after he named who he wanted in the job. Tim Barfield told lawmakers Thursday that he was formally appointed as secretary of the Department of Revenue. Barfield started working as department head in October, but he was... more »
May 15, 2013 10:20 AM
BATON ROUGE - Louisiana's income forecast has gotten brighter, giving lawmakers more money to spend in the budget. The Revenue Estimating Conference adjusted next year's forecast by $155 million - $65 million more than what was assumed in the House-passed version of the 2013-14 budget. Economists say the state's individual... more »
May 13, 2013 11:13 AM
BATON ROUGE - The deadline for filing 2012 Louisiana individual income tax returns is Wednesday. The state Department of Revenue says filing can be made electronically and more information is available at the department's website, www.revenue.louisiana.gov/fileonline. Officials say the average refund processing time for electronic returns is 10 business days;... more »
April 29, 2013 10:37 PM
BATON ROUGE- It was a record year for crops in the state.
The LSU AgCenter said Louisiana's agricultural economy hit a high of $11.4 billion last year. That's about 6.5 percent more than the 2011 amount of $10.7 billion.
Record yields for corn and soybeans fueled the increase... more »
March 28, 2013 6:13 PM
BATON ROUGE - Gov. Bobby Jindal has made changes to his tax revamp proposal and will push to boost state sales taxes even higher than already announced to make the numbers balance. Jindal's proposal would increase the state sales tax from 4 percent to 6.25 percent, rather than the 5.88... more »
March 26, 2013 8:11 AM
BATON ROUGE - State taxpayers who require more time to file their 2012 income taxes must submit their extension requests electronically. The Louisiana Department of Revenue implemented the requirement beginning with returns due in 2013. Filing extension requests must be submitted no later than the tax filing deadline. 2012 Louisiana... more »
March 21, 2013 12:21 PM
BATON ROUGE - A nonpartisan watchdog group says Gov. Bobby Jindal's tax code rewrite could cost the state as much as $650 million in lost revenue as currently proposed. The Public Affairs Research Council of Louisiana says Jindal's plan appears to fall short of the claim that it is "revenue... more »
March 5, 2013 10:37 AM
BATON ROUGE- Lawmakers who spent months reviewing Louisiana's lengthy list of tax breaks are recommending more regular oversight and study of the credits, exemptions and rebates. In its final report released Tuesday, the Revenue Study Commission didn't recommend getting rid of any specific tax breaks. Instead, the 14-member panel provided... more »
February 22, 2013 8:34 AM
NEW ORLEANS - State-licensed casinos won $185.2 million from gamblers last month, down considerably from the December holiday figure of $211.4 million.
The number is also lower than the January 2012 figure of nearly $185.7 million. Harrah's New Orleans Casino saw a slight January-to-January increase, going to just over... more »
January 21, 2013 6:40 AM
WASHINGTON - Democrats are looking to make new revenue part of the Senate's first budget in almost four years. That budget will be released soon after the start of President Barack Obama's second term. Obama has pushed for a "balanced approach" to solving the nation's financial woes, including more tax... more »
January 18, 2013 12:49 PM
LIVINGSTON - Livingston Parish sales tax revenue rose 7 percent in December, compared with the previous year, marking the 26th straight month that tax receipts have increased. The Advocate reports more than 70 percent of the sales taxes collected in the Denham Springs Economic Development District are still being used... more »
December 19, 2012 10:26 AM
GREENSBURG - The St. Helena Parish Police Jury has adopted a budget for 2013 that would keep expenditures below projected revenue and add money back to the parish's fund balance for only the second time in four years. The Advocate reports general and special fund revenue for 2013 are projected... more »
November 29, 2012 5:57 PM
BATON ROUGE - You may not be charged tax when online shopping, but that doesn't mean your purchases are tax-free.
Web retailers like Amazon.com aren't required to collect sales tax in states like Louisiana because there's no 'brick-and-mortar' store in the state, but Louisiana still requires consumers to pay... more »
November 19, 2012 10:19 AM
PLAQUEMINE - Despite declining tax revenues, Iberville Parish's $41.6 million budget for 2013 reflects a 1.5 percent increase in spending compared to 2012. The Advocate reports nearly 30 percent of the $611,882 projected spending increase is attributed to more than $11 million in capital outlay projects reflected in the proposed... more »
November 8, 2012 8:45 AM
SLIDELL - Slidell Mayor Freddy Drennan has warned city workers about possible layoffs beginning in January because of an unexpected slump in city sales tax revenues.
Drennan says he met with many of the city's 300 employees on Tuesday and notified them that jobs may be cut if the... more »
October 21, 2012 10:46 AM
BATON ROUGE - A new Baton Rouge casino is taking revenue away from casinos not only in Baton Rouge but in New Orleans and Mississippi, says the manager of a rival gambling hall. The L'Auberge Casino & Hotel Baton Rouge, which opened Sept. 1, reaped $13.3 million in revenue, The... more »
October 12, 2012 10:27 AM
BATON ROUGE - The state Department of Revenue announced it's working on a new program to collect money owed to the state by intercepting federal payments.
The Federal-State Offset Program would let them take money out of federal payments to vendors or contractors with outstanding, non-tax debts owed to... more »
October 9, 2012 5:25 PM
BATON ROUGE - Gov. Bobby Jindal's new revenue secretary Tim Barfield is on the job - but not officially as the secretary. Barfield has started working as executive counsel at the Louisiana Department of Revenue until the state Senate confirms his appointment as secretary, a move that won't happen until... more »
September 26, 2012 11:47 AM
BATON ROUGE - The state Department of Revenue is proposing new regulations governing Louisiana's alternative fuel vehicle tax credit to limit estimated program costs to $10 million a year. That's far higher than initial estimates of the tax break's price tag. But the move to eliminate "flex-fuel vehicles" - which... more »
September 26, 2012 7:45 AM
LIVINGSTON - For 22 consecutive months, Livingston Parish has shown increases in sales tax receipts when compared with the same months a year earlier.
August sales tax collections jumped 12 percent compared with August 2011.
Parish officials say the added income arrives at an opportune time. They are... more »
September 21, 2012 9:11 AM
BATON ROUGE - Louisiana's state-licensed casinos took in $188 million from gamblers last month, winnings that were on par with a year earlier but a 5 percent drop from July.
The figures, compiled by the state police, were presented Thursday to the Louisiana Gaming Control Board. The winnings don't... more »
June 15, 2012 6:21 PM
BATON ROUGE - Gov. Jindal announced that the Secretary of Revenue, Cynthia Bridges, resigned abruptly today.
This comes after Jindal announced he was putting the brakes on the expansion of a controversial tax credit for alternate fuel vehicles.
In April, the Department of Revenue issued an emergency ruling... more »
May 24, 2012 2:06 PM
BATON ROUGE - Louisiana's tax-free holiday for people to get ready for hurricane season is this weekend.
The Hurricane Preparedness Sales Tax Holiday runs this Saturday and Sunday, May 26 and 27.
During the annual two-day holiday, the state sales tax is waived on the first $1,500 of... more »
May 23, 2012 11:15 AM
BATON ROUGE- Albemarle Corp.'s chief executive officer says the Baton Rouge-based specialty chemicals maker is well on its way to reaching its 2015 goal of more than $5 billion in revenue and earnings of more than $9 per share. The Advocate reports CEO Luke Kissam said Tuesday Albemarle set those... more »
April 19, 2012 11:32 AM
BATON ROUGE- Louisiana's state-licensed casinos in March continued a recent trend of winning more money from players. State police said Thursday that the 12 riverboat casinos, Harrah's downtown New Orleans casino and the four race track casinos took in $227.9 million. That's a 5.8 percent gain from $215.4 million won... more »
March 15, 2012 11:38 AM
BATON ROUGE- February winnings for Louisiana's state-licensed casinos jumped 8.7 percent from a year ago. State police say the 12 riverboat casinos, Harrah's New Orleans land casino and the three casinos at race tracks won $217.7 million, compared with $199.5 million for February 2011. Last month included an extra day... more »
December 14, 2011 1:40 PM
BATON ROUGE - Louisiana's income forecasting panel is planning to talk about whether the state's revenue projections should be dropped, a move that could force a new round of budget cuts. The four-member Revenue Estimating Conference meets Wednesday to hear from two state economists about how income projections have fallen... more »
November 30, 2011 10:57 AM
BATON ROUGE - The frequently cash-strapped bus system for East Baton Rouge Parish does not anticipate finding a revenue source to fill its projected $2.1 million budget gap next year.
Capital Area Transit System board member Jared Loftus told the East Baton Rouge Metro Council Tuesday night they will... more »
September 28, 2011 7:36 PM
The city of Orange Beach, Alabama reached a settlement with BP over money it lost from last year's oil spill. BP agreed to pay $1.27 million for lodging and retail revenue the town didn't collect because tourists stayed away. City leaders still believe BP should have paid as much as... more »
May 18, 2011 5:24 PM
BATON ROUGE - Any lawmakers' hopes that Louisiana's income picture would brighten have been dashed.
The state income forecasting panel, called the Revenue Estimating Conference, instead dropped the state's forecast by $77 million this year. While the panel agreed Wednesday to leave next year's estimates alone, the drop in... more »
April 26, 2011 11:27 AM
BATON ROUGE - Facing significant opposition from lawmakers, Gov. Bobby Jindal says he won't push the sale of three state prisons until economists offer the latest revenue forecasts.
If those income forecasts give lawmakers enough money to cover what the prison sales would generate, Jindal says he won't oppose... more »
January 20, 2011 1:12 PM
BATON ROUGE - Louisiana's state-licensed casinos won $2.37 billion from players in 2010 - a 3.3 percent drop over what was left behind in 2009. In 2009, casino winnings totaled $2.45 billion in Louisiana. At the same time, state figures show the casinos increased their take last month by 6.2... more »
January 13, 2011 3:09 PM
BATON ROUGE - The state's revenue forecasting panel has decided against revising its income projections for now, leaving Gov. Bobby Jindal without additional money to plug into his budget proposal. Two members of the four-member Revenue Estimating Conference, including House Speaker Jim Tucker, say they are hesitant to raise revenue... more »
December 22, 2010 2:21 PM
CHICAGO - Holiday shoppers are racing to the end of the season at a more feverish pace this year, with retail revenue up 5.5 percent during the last weekend before Christmas. The figure, released by ShopperTrak on Wednesday, is a drastic improvement from a year ago, when revenue dropped 6.2... more »
December 10, 2010 12:39 PM
BATON ROUGE – Total state revenues for 2010-2011 to-date (July - November) are $2.866 billion, for a decrease of $395 million compared to last year. Total revenues reported in November were down 12 percent compared to last year, and total revenues reported in October were down 6 percent compared to... more »
October 25, 2010 11:12 AM
The Louisiana Department of Revenue has established an independent unit to work with taxpayers disputing audits. The Audit Protest Bureau was set up to give taxpayers who are in the early stages of disputing an audit an alternative to the court system. The bureau is managed by tax experts who... more »
October 15, 2010 6:13 PM
LSU has submitted its plan to meet a $2.2 million mid-year budget reduction after a $108 million deficit in last year’s state budget. Officials said the University will accommodate the reduction with tuition and fee revenue coming from a higher-than-expected enrollment this fall. “Had there been no reduction in state... more »
October 12, 2010 6:02 AM
The East Baton Rouge Parish school system is scaling down plans for construction because of a sharp falloff in sales tax revenue. Superintendent John Dilworth released some initial proposals callin for closing three elementary schools in May, and drastically rewriting construction plans. Dilworth said the ideas are preliminary and may... more »
July 20, 2010 6:18 AM
Entergy Corp. is expecting to post an annual gain in net income for the second quarter thanks to higher revenue and sales growth in its utility and nuclear segments. The utility said it anticipates net income for the three months ended in June will be about $1.64 a share, up... more »
June 11, 2010 5:45 AM
The state's already bleak budget picture is expected to get bleaker Friday when the Revenue Estimating Conference releases its adjusted revenue projections.
State economists already have said the state's current year budget woes are worse than the $319 million deficit over which lawmakers are haggling. The economists who advise... more »
April 22, 2010 8:01 AM
By the slimmest of margins, Southwest Airlines made a profit in the first quarter while other big carriers were losing money.
Southwest said Thursday it earned $11 million, or a penny per share.
Revenue rose 11.6 percent.
The airline said it's seeing an uptick in business travel,... more »
April 14, 2010 10:06 AM
Governor Jindal is set to speak at 12:30 p.m. Wednesday about the state's revenue forecast.
News 2 will have a crew on the scene and bring you information as it becomes available. more »
April 14, 2010 8:04 AM
Update: The Revenue Estimating Conference made a formal estimate of the deficit for the current budget year that ends June 30. The projected deficit for remainder of 2010 fiscal year is $319 million. The new fiscal year starts July 1st. The latest deficit presents a problem since it's happening so... more »
February 2, 2010 10:44 AM
Power provider Entergy Corp. parlayed increased electricity usage and sharply lower fuel expenses into an 84 percent gain in fourth-quarter profit, the company reported Tuesday.
For the October-through-December period, Entergy earned $313.8 million, or $1.64 per share, on revenue of $2.5 billion, compared with year-ago earnings in the fourth... more »
January 28, 2010 12:28 PM
The state is paying $5.3 million to a California-based collection agency that helped with a recent tax amnesty program.
Diversified Collection Services operated a phone bank, mailed letters and developed a Web site for the two-month program that ended on Halloween and generated more than $460 million.
DCS'... more »
January 25, 2010 5:59 AM
A weak second half of 2009 wiped out the year's strong start in Livingston Parish and left sales tax revenue collections below those of 2008. Records show collections by local government dropped 14.5 percent in November and 7.3 percent in December, compared to the same months in 2008. For the... more »
January 7, 2010 4:39 AM
The Louisiana Department of Revenue has ended a program to certify contractors. The revenue department said the program failed to make more contractors comply with the state's tax laws. Resident contractors therefore no longer need to renew their certifications and nonresident contractors will no longer be required to pay a... more »
December 18, 2009 10:31 AM
Sales tax revenue for East Baton Rouge Parish dropped more than 22 percent in October compared to last year, according to figures released Friday. Mayor-President Kip Holden says city leaders anticipated the deficit, and he blamed it on what he called the "Hurricane Gustav effect." Holden says in October 2008,... more »
December 9, 2009 8:57 AM
Delta Air Lines expected the improving revenue environment to continue in the months ahead, though sales of premium seats remain pressured.
Chief Financial Officer Hank Halter told investors at a conference Wednesday that Delta's revenue per available seat mile likely will show growth in the first half of 2010.... more »
November 16, 2009 6:57 AM
Sales taxes for Livingston Parish's two largest municipalities were down again in October. Sales tax revenues dropped 5 percent in Walker and 14 percent in Denham Springs, compared to October of 2008. Denham Springs Mayor Jimmy Durbin and Walker Mayor Bobby Font both said they have taken steps to reduce... more »
October 27, 2009 2:35 PM
A former employee of the Louisiana Department of Revenue is under arrest, after an investigation by State Police.
Authorities say Joyce Aikens, of Prarieville, asked for credit card information from two taxpayers when they were trying to make a payment on their accounts.
An investigation later found Aikens... more »