SLS 17RS-43 ORIGINAL
2017 Regular Session
SENATE BILL NO. 51
BY SENATOR PEACOCK
TAX/TAXATION. Requires a credit to be given on income taxes for franchise taxes paid
in another state. (gov sig)
1 AN ACT
2 To enact R.S. 47:33(B), relative to the credit for taxes paid in other states; to allow the credit
3 for entity level taxes based on gross income paid on behalf of Louisiana residents;
4 to provide for an effective date; and to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:33(B) is hereby enacted to read as follows:
7 ยง33. Credit for taxes paid in other states
8 * * *
9 B. Notwithstanding the provisions of Subsection A of this Section to the
10 contrary, resident individual partners or members of an entity that pays an
11 entity level tax in another state based upon income included in the entity's
12 federal gross income shall be allowed the credit for their proportionate share
13 of the entity level tax paid in the other state on or after January 1, 2017.
14 Section 2. This Act shall become effective upon signature by the governor or, if not
15 signed by the governor, upon expiration of the time for bills to become law without signature
16 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
17 vetoed by the governor and subsequently approved by the legislature, this Act shall become
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 51
SLS 17RS-43 ORIGINAL
1 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 51 Original 2017 Regular Session Peacock
Present law provides an individual income tax credit for income taxes paid in other states
on net income that is taxable both in this state and another state.
Proposed law authorizes the credit for an individual taxpayer's proportionate share of an
entity level tax paid in another state based upon income included in the entity's federal gross
income paid on or after Jan. 1, 2017.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 47:33(B))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.