HLS 12RS-187 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2012
HOUSE BILL NO. 297
BY REPRESENTATIVE SEABAUGH
TAX/CORP INCOME: Reduces the rates for corporation income tax
AN ACT1
To amend and reenact R.S. 47:287.12, relative to corporation income tax; to reduce the rates2
of the corporation income tax; to provide for an effective date; and to provide for3
related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 47:287.12 is hereby amended and reenacted to read as follows: 6
ยง287.12. Rates of tax 7
The tax to be assessed, levied, collected, and paid upon the Louisiana taxable8
income of every corporation shall be computed at the rate of: 9
(1) Four Two percent upon the first twenty-five thousand dollars of10
Louisiana taxable income. 11
(2) Five Two and one-half percent upon the amount of Louisiana taxable12
income above twenty-five thousand dollars but not in excess of fifty thousand13
dollars. 14
(3) Six Three percent on the amount of Louisiana taxable income above fifty15
thousand dollars but not in excess of one hundred thousand dollars. 16
(4) Seven Three and one-half percent on the amount of Louisiana taxable17
income above one hundred thousand dollars but not in excess of two hundred18
thousand dollars. 19 HLS 12RS-187 ORIGINAL
HB NO. 297
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
(5) Eight Four percent on all Louisiana taxable income in excess of two1
hundred thousand dollars. 2
Section 2. The provisions of this Act shall become effective on July 1, 2012, and3
shall be applicable for all taxable periods beginning on and after July 1, 2013.4
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Seabaugh HB No. 297
Abstract: Reduces the rates for corporation income tax.
Present law provides for the assessment, levy, collection, and payment of a tax upon the La.
taxable income of every corporation to be computed at the following rates:
(1)4% upon the first $25,000 of La. taxable income.
(2)5% on La. taxable income above $25,000 but not in excess of $50,000.
(3)6% on La. taxable income above $50,000 but not in excess of $100,000.
(4)7% on La. taxable income above $100,000 but not in excess of $200,000.
(5)8% on all La. taxable income in excess of $200,000.
Proposed law changes present law by reducing the rates of the corporation income tax as
follows:
(1)From 4% to 2% upon the first $25,000 of La. taxable income.
(2)From 5% to 2.5% on La. taxable income above $25,000 but not in excess of $50,000.
(3)From 6% to 3% on La. taxable income above $50,000 but not in excess of $100,000.
(4)From 7% to 3.5% on La. taxable income above $100,000 but not in excess of
$200,000.
(5)From 8% to 4% on all La. taxable income in excess of $200,000.
Effective July 1, 2012, and applicable for all taxable periods beginning on and after July 1,
2013.
(Amends R.S. 47:287.12)