HLS 20RS-1571 ENGROSSED
2020 Regular Session
HOUSE CONCURRENT RESOL UTION NO. 66
BY REPRESENTATIVE BISHOP
TAX/CORP FRANCHISE: Suspends the lower tier of the corporation franchise tax levied
on domestic and foreign corporations and the initial tax levied on certain business
entities subject to the corporate franchise tax
1 A CONCURRENT RESOL UTION
2To suspend until sixty days after final adjournment of the 2021 Regular Session of the
3 Legislature of Louisiana the state corporation franchise tax levied on domestic and
4 foreign corporations at the rate of one dollar and fifty cents for each one thousand
5 dollars, or major fraction thereof on the first three hundred thousand dollars of
6 taxable capital pursuant to the provisions of R.S. 47:601(A) and to suspend the initial
7 tax levied on corporations or other entities for the first accounting period in which
8 the entity becomes subject to the corporation franchise tax pursuant to the provisions
9 of R.S. 47:611(A).
10 WHEREAS, On March 11, 2020, Governor John Bel Edwards issued Emergency
11Proclamation Number 25 JBE 2020, which declared a statewide public health emergency as
12a result of the imminent threat posed to Louisiana citizens by the outbreak of a respiratory
13disease caused by a novel coronavirus known commonly as COVID-19; and
14 WHEREAS, on March 13, 2020, Governor John Bel Edwards issued Emergency
15Proclamation Number 27 JBE 2020, which supplemented the measures taken in his
16declaration of a public health emergency with additional restrictions in order to further
17protect the health and safety of the public because of COVID-19; and
18 WHEREAS, On March 22, 2020, Governor John Bel Edwards issued Emergency
19Proclamation Number 33 JBE 2020 which implemented additional measures, including a
20general stay-at-home order to the public and the temporary closure of certain businesses and
Page 1 of 3 HLS 20RS-1571 ENGROSSED
HCR NO. 66
1further limiting the operations of certain non-essential businesses to the public to mitigate
2the impact of COVID-19, and to disrupt the spread of the virus; and
3 WHEREAS, as a result of the issuance of the general stay-at-home order and the
4temporary closure of certain businesses and the further limiting of the operations of certain
5non-essential businesses to the public, businesses as well as employees have suffered great
6economic losses; and
7 WHEREAS, in an effort to mitigate some of the financial losses suffered by
8businesses, the state should consider temporarily suspending the state corporation franchise
9tax levied on domestic and foreign corporations and suspending the initial tax levied on
10corporations or other entities for the first accounting period in which the entity becomes
11subject to the corporation franchise tax.
12 THEREFORE, BE IT RESOLVED that the Legislature of Louisiana hereby suspends
13the provisions of the state corporation franchise tax levied on domestic and foreign
14corporations at the rate of one dollar and fifty cents for each one thousand dollars, or major
15fraction thereof on the first three hundred thousand dollars of taxable capital pursuant to the
16provisions of R.S. 47:601(A) and suspends the initial tax levied on corporations or other
17entities for the first accounting period in which the entity becomes subject to the corporation
18franchise tax pursuant to the provisions of R.S. 47:611(A).
19 BE IT FURTHER RESOLVED that this suspension shall become effective upon
20adoption of this Resolution and shall extend through the sixtieth day after final adjournment
21of the 2021 Regular Session of the Legislature of Louisiana.
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)]
HCR 66 Engrossed 2020 Regular Session Bishop
Suspends the state corporation franchise tax levied at the rate of $1.50 for each $1,000, or
major fraction thereof on the first $300,000 of taxable capital on domestic and foreign
corporations and the initial tax levied on corporations or other entities for the first
accounting period in which the entity becomes subject to the corporation franchise tax.
(Suspends R.S. 47:601(A) and 611(A))
Page 2 of 3 HLS 20RS-1571 ENGROSSED
HCR NO. 66
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Ways and Means to the
original bill:
1. Limit the suspension of the corporation franchise tax to the tax levied at the rate
of $1.50 for each $1,000, or major fraction thereof on the first $300,000 of
taxable capital on domestic and foreign corporations.
Page 3 of 3