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 266 Original 2015 Regular Session Thierry
Abstract: Eliminates the deductibility of federal income taxes paid when computing state
individual and corporate income taxes.
Present constitution authorizes equal and uniform taxes to be levied on net income. Further
authorizes the rates for these taxes to be graduated according to the amount of net income of the
taxpayer; however, the state individual and joint income tax schedule of rates and brackets are
prohibited from exceeding the rates and brackets as they existed on Jan. 1, 2003.
Present constitution authorizes federal income taxes paid to be allowed as a deductible item in
computing state income taxes for the same period.
Proposed constitutional amendment changes present constitution by eliminating the deductibility of
federal income taxes paid when computing both individual and corporate income tax liability.
Provides for submission of the proposed amendment to the voters at the statewide election to be held
Oct. 24, 2015.
Applicable to all tax years beginning on and after Jan. 1, 2015.
(Amends Const. Art. VII, ยง4(A))