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 575 Original 2015 Regular Session Stokes
Abstract: Modifies the corporate tax rate for state tax levied on corporation income from a tiered
rate schedule to a flat 5% rate.
Present law provides the following tax rate for corporate income:
(1)Four percentum upon the first twenty-five thousand dollars of net income.
(2)Five percentum upon the amount of net income above twenty-five thousand dollars but not
in excess of fifty thousand dollars.
(3)Six percentum on the amount of net income above fifty thousand dollars but not in excess
of one hundred thousand dollars.
(4)Seven percentum on the amount of net income above one hundred thousand dollars but not
in excess of two hundred thousand dollars.
(5)
Eight percentum on all net income in excess of two hundred thousand dollars.
Proposed law eliminates the tiered tax rate schedule and provides a flat 5% tax on corporate income.
Effective when the proposed amendment of Art. VII of the La. Const. contained in the Act that
originated as House Bill No._____ of this 2015 Regular Session of the Legislature is adopted and
becomes effective.
(Amends R.S. 47:32(C))