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Senators hear package to cut income taxes, repeal franchise tax and sunset incentives
Summary
Sponsors presented a three-bill tax package (HB1–3) seeking to compress personal and corporate tax brackets, repeal the corporate franchise tax and sunset many tax credits while promising to honor approved applications; LED and Revenue secretaries defended the plan as competitiveness reform, but senators pressed on local impacts and program backstops.
Lawmakers and administration officials spent substantial portion of the Nov. 17 Revenue and Fiscal Affairs hearing presenting a linked package of bills designed to reshape Louisiana’s tax code.
Representative Emerson and Revenue Secretary Richard Nelson described HB1 as a move to a flat individual rate (3%) with a raised standard deduction that eliminates tax for the lowest‑income bracket. HB2 would compress corporate brackets toward 3.5% via a staged reduction. HB3 would repeal the corporate franchise tax —…
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