Reduces the rates for the tax levied on individual income tax in favor of a flat tax and eliminates all individual income tax credits, deductions, exclusions, and exemptions
Authorizes an additional 5% tax credit in the motion picture investor tax credit program for investors headquartered in La. for a certain period of time
Provides for the carry forward rather than the refund of a certain portion of the tax credits for ad valorem taxes paid to local governments (EN +$129,000,000 GF RV See Note)
Includes limited liability companies taxed as corporations within the definition of domestic corporation for the purposes of the corporation franchise tax