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 275 Engrossed 2021 Regular Session Riser
Abstract: Eliminates the mandatory deductibility of federal income taxes paid when computing
state corporate income taxes.
Present constitution authorizes equal and uniform taxes to be levied on net income. Further
authorizes the rates for these taxes to be graduated according to the amount of the taxpayer's net
income; however, the state individual and joint income tax schedule of rates and brackets are
prohibited from exceeding the rates and brackets as they existed on Jan. 1, 2003.
Present constitution authorizes federal income taxes paid to be allowed as a deductible item in
computing state income taxes for the same period.
Proposed constitutional amendment changes present constitution by eliminating the mandatory
deductibility of federal income taxes paid when computing corporate income tax liability.
Effective Jan. 1, 2023, and applicable to tax years beginning on or after Jan. 1, 2023.
Provides for submission of the proposed amendment to the voters at the statewide election to be held
Nov. 8, 2022.
(Amends Const. Art. VII, ยง4(A))