Revenue chief: Loopholes allow many companies to skip taxes
BATON ROUGE - Revenue Secretary Tim Barfield says data analysis by his department shows many of the largest companies doing business in Louisiana don't pay income taxes to the state.
Lawmakers have questioned why Louisiana's corporate tax collections have remained largely stagnant despite the national economic recovery and a list of announced business projects.
That prompted a research project for Barfield.
In a review of a slice of the state's largest companies, Barfield said his agency found only about one-fourth were paying corporate income taxes to Louisiana.
The secretary says companies are aggressively using loopholes and tax breaks to avoid owing anything to Louisiana.
The revenue department opened more than 100 audits based on its findings, and Barfield's talking to lawmakers about possibly closing some of the loopholes in the upcoming legislative session.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Staying safe and warm in Baton Rouge low temps
All Hazards Recovery Plan goes to vote at Metro Council Meeting
Neighbors help Ascension man stay warm during season's first freeze
LSU rises to #1 in College Football Playoff rankings; Bama knocked out...
Family Strong: Three Baton Rouge siblings enlist in US Army