Phases-out the taxes levied on the income of individuals and estates and trusts over five years (OR DECREASE GF RV See Note)
Levies a flat tax on business income and provides relative to business entities subject to the tax (RE SEE FISC NOTE GF RV)
Phases-out the taxes levied on the income of individuals and estates and trusts and reduces the amount of exemptions, deductions, and credits that may be claimed to reduce income tax liability (OR DECREASE GF RV See Note)
Provides with respect to corporate and individual income taxes
Authorizes a one-time refundable individual income tax credit for certain Louisiana taxpayers (OR -$275,400,000 GF RV See Note)
Changes the rates and brackets for purposes of calculating individual income tax liability and eliminates certain deductions and credits (EG +$21,000,000 GF RV See Note)
Changes the rates and brackets for purposes of calculating individual income tax liability and eliminates or modifies certain deductions, exemptions, and credits (EG DECREASE GF RV See Note)
Provides for the comprehensive revision of the tax code and tax incentives (EG SEE FISC NOTE GF RV See Note)