The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 47 Original 2017 Regular Session Gatti
Present law provides that personal income subject to taxation by the state is taxed under a graduated
rate structure of two, four, and six percent.
Present law provides that the Louisiana income of corporations and entities taxed as corporations
subject to taxation by the state is taxed under a graduated rate structure of four, five, six, seven, and
eight percent.
Present law applies the graduated rate structure to all income subject to taxation by the state
including income from oil and gas lease bonus and royalty payments.
Proposed law reduces the rate of tax for individuals and corporations on income from oil and gas
lease bonus payments and oil and gas royalty payments to zero percent.
Applicable to taxable periods beginning on or after January 1, 2017.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 47:32(D))