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Tax reform will be tough sell
Source:
americanpress.com
- Oct 31, 2016
The task force appointed to study ways to reform Louisiana’s budget process and tax structure is scheduled to make its final report this week. Unfortunately, there is already a clear indication that most of its proposals will be unpopular with one group or another.
The state’s 5 percent sales tax, when combined with local sales taxes, totals almost 11 percent, highest in the nation and a job and business killer. A 1 percent increase in the state sales tax that passed in an earlier special session goes off the books in July of 2018, and the big question is how do you replace the $880.6 million it raises annually.
Jim Richardson, an LSU economist and co-chairman of the task force, said, “The state will collect about $4.3 billion from sales tax revenue in the current fiscal year. We’d like to keep that at about $4 billion.”
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Category: Louisiana
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