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 23 Engrossed 2016 First Extraordinary Session Jackson
Abstract: Repeals the three-year sunset on reductions made to certain corporate income tax
deductions and exclusions in Act No. 123 of the 2015 R.S.
Present law sunsets on June 30, 2018, the 28% reductions made in Act No. 123 of the 2015 R.S. to
the following corporate income tax deductions and exclusions:
(1)R.S. 47:51 Exclusions from gross income; governmental subsidies
(2)R.S. 47:158 Basis for depletion (oil and gas wells)
(3)R.S. 47:246 Corporations; deduction from net income from La. sources
(4)R.S. 47:287.71 Modifications to federal gross income
(5)R.S. 47:287.73 Modifications to deductions from gross income allowed by federal law
(6)R.S. 47:287.86 Net operating loss deduction
(7)R.S. 47:287.738 Other inclusions and exclusions from gross income
(8)R.S. 47:287.745 Deductions from gross income; depletion
(9)R.S. 51:3092 Corporation income and franchise tax exemption
Proposed law repeals the three-year sunset of the modifications in present law making the 28%
reductions permanent.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends §6 of Act No. 123 of the 2015 R.S.; Repeals §§3 and 4 of Act No. 123 of the 2015 R.S.)