HLS 21RS-495 REENGROSSED
2021 Regular Session
HOUSE BILL NO. 293
BY REPRESENTATIVE RISER
TAX/CORP INCOME: Provides for the rate of corporation income tax
1 AN ACT
2To amend and reenact R.S. 47:287.12, relative to corporation income tax; to provide relative
3 to the rate of the corporation income tax; to provide for applicability; to provide for
4 effectiveness; and to provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:287.12 is hereby amended and reenacted to read as follows:
7 ยง287.12. Rates of tax
8 The tax to be assessed, levied, collected, and paid upon the Louisiana taxable
9 income of every corporation shall be computed at the rate of:
10 (1) Four percent upon the first twenty-five thousand dollars of Louisiana
11 taxable income.
12 (2) Five percent upon the amount of Louisiana taxable income above twenty-
13 five thousand dollars but not in excess of fifty thousand dollars.
14 (3) Six percent on the amount of Louisiana taxable income above fifty
15 thousand dollars but not in excess of one hundred thousand dollars.
16 (4) Seven percent on the amount of Louisiana taxable income above one
17 hundred thousand dollars but not in excess of two hundred thousand dollars.
18 (5) Eight six and one-half percent on all Louisiana taxable income in excess
19 of two hundred thousand dollars.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 21RS-495 REENGROSSED
HB NO. 293
1 Section 2. The provisions of this Act shall be applicable to tax years beginning on
2or after January 1, 2023.
3 Section 3. This Act shall take effect and become operative January 1, 2023, if the
4proposed amendment of Article VII of the Constitution of Louisiana contained in the Act
5which originated as House Bill No. 275 of this 2021 Regular Session of the Legislature is
6adopted at a statewide election and becomes effective.
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 293 Reengrossed 2021 Regular Session Riser
Abstract: Changes the corporate income tax rate from a graduated schedule of rates
dependent on the taxable income of the taxpayer to a flat rate of 6.5%.
Present law requires that the tax to be assessed, levied, collected, and paid on the La. taxable
income of every corporation is to be computed at the following rates:
(1)4% on the first $25,000 of La. taxable income.
(2)5% on La. taxable income above $25,000 but not in excess of $50,000.
(3)6% on La. taxable income above $50,000 but not in excess of $100,000.
(4)7% on La. taxable income above $100,000 but not in excess of $200,000.
(5)8% on all La. taxable income in excess of $200,000.
Proposed law changes present law by eliminating the graduated schedule of rates dependant
on the amount of taxable income of the taxpayer in favor of a flat 6.5% corporate income
tax rate.
Applicable to tax years beginning on or after Jan. 1, 2023.
Effective Jan. 1, 2023, if the proposed amendment of Article VII of the Constitution of La.
contained in the Act which originated as House Bill No. 275 of the 2021 Regular Session
of the Legislature is adopted at a statewide election and becomes effective.
(Amends R.S. 47:287.12)
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Ways and Means to the
original bill:
1. Specify the House Bill No. of the proposed constitutional amendment to which
the effectiveness of proposed law is tied.
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HB NO. 293
The House Floor Amendments to the engrossed bill:
1. Increase the rate of the flat tax from 6% to 6.5%.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.