HLS 13RS-585 ORIGINAL
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Regular Session, 2013
HOUSE BILL NO. 338
BY REPRESENTATIVE RITCHIE
TAX/CORP INCOME: Reduces the rates for corporate income tax
AN ACT1
To amend and reenact R.S. 47:32(C) and 287.12, relative to corporation income tax; to2
provide relative to the rate of the corporation income tax; to reduce the rates of such3
tax; to provide for effectiveness; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 47:32(C) and 287.12 are hereby amended and reenacted to read as6
follows: 7
§32. Rates of tax8
* * *9
C. On corporations. The tax to be assessed, levied, collected, and paid upon10
the net income of every corporation shall be computed at the rate of:11
(1) Four percentum Three percent upon the first twenty-five thousand dollars12
of net income.13
(2) Five percentum Four percent upon the amount of net income above14
twenty-five thousand dollars but not in excess of fifty thousand dollars.15
(3) Six percentum Five percent on the amount of net income above fifty16
thousand dollars but not in excess of one hundred thousand dollars.17
(4) Seven percentum Six percent on the amount of net income above one18
hundred thousand dollars but not in excess of two hundred thousand dollars.19 HLS 13RS-585 ORIGINAL
HB NO. 338
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(5) Eight percentum Seven percent on all net income in excess of two1
hundred thousand dollars.2
* * *3
§287.12. Rates of tax 4
The tax to be assessed, levied, collected, and paid upon the Louisiana taxable5
income of every corporation shall be computed at the rate of: 6
(1) Four Three percent upon the first twenty-five thousand dollars of7
Louisiana taxable income. 8
(2) Five Four percent upon the amount of Louisiana taxable income above9
twenty-five thousand dollars but not in excess of fifty thousand dollars. 10
(3) Six Five percent on the amount of Louisiana taxable income above fifty11
thousand dollars but not in excess of one hundred thousand dollars. 12
(4) Seven Six percent on the amount of Louisiana taxable income above one13
hundred thousand dollars but not in excess of two hundred thousand dollars. 14
(5) Eight Seven percent on all Louisiana taxable income in excess of two15
hundred thousand dollars. 16
Section 2. This Act shall become effective on January 1, 2014, and shall be17
applicable to all tax years beginning on and after January 1, 2014.18
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)]
Ritchie HB No. 338
Abstract: Reduces the rate of tax on the taxable income of corporations in La.
Present law provides that the tax to be assessed, levied, collected, and paid on the La. taxable
income of every corporation shall be computed at the following rates:
(1)4% on 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. HLS 13RS-585 ORIGINAL
HB NO. 338
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(5)8% on all La. taxable income in excess of $200,000.
Proposed law reduces the present law rates for the tax on the taxable income of corporations
to the following:
(1)3% on the first $25,000 of La. taxable income.
(2)4% on La. taxable income above $25,000 but not in excess of $50,000.
(3)5% on La. taxable income above $50,000 but not in excess of $100,000.
(4)6% on La. taxable income above $100,000 but not in excess of $200,000.
(5)7% on all La. taxable income in excess of $200,000.
Effective Jan. 1, 2014, and applicable to all tax years beginning on and after Jan. 1, 2014.
(Amends R.S. 47:32(C) and 287.12)