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)]
HB 254 Original 2015 Regular Session Jay Morris
Abstract: Reduces rates for purposes of calculating corporation income tax liability.
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.
(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)From 4% to 2% on the first $25,000 of La. taxable income.
(2)From 5% to 3% on La. taxable income above $25,000 but not in excess of $50,000.
(3)From 6% to 4% on La. taxable income above $50,000 but not in excess of $100,000.
(4)From 7% to 5% on La. taxable income above $100,000 but not in excess of $200,000.
(5)From 8% to 6% on all La. taxable income in excess of $200,000.
Effective Jan. 1, 2016, and applicable to all tax years beginning on and after that date.
(Amends R.S. 47:287.12)