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Revenue estimates plunge in Louisiana Gov. John Bel Edwards' tax plan

Source: nola.com - Apr 21, 2017

Changes that Gov. John Bel Edwards made to his business tax plan in hopes of lessening criticism cut in half the estimate of what the tax will raise. That leaves his budget-stabilizing tax package hundreds of millions short of what he wanted to generate.

The Edwards administration expected the tax to bring in $800 million to $900 million a year when the Democratic governor first introduced a plan to tax companies' gross receipts, essentially taxing their sales without accounting for profit margins or expenses. The administration calls it a corporate activity tax.

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Category: General Business