Tax-related measures on today’s legislative agenda:
Ways and Means. At adjournment in Committee Room 6. Agenda includes:
HB35 Provides for a sales and use tax exemption for sales of certain property to the “Make It Right Foundation”.
HB181 Provides with respect to filing, witness, and mileage fees associated with proceedings before the Tax Court and its small claims division.
HB223 Creates and provides for a Tax Court as an administrative agency in the office of the governor.
HB488 Prohibits the Dept. of Revenue from collecting tax on any transaction for which no clear intent to tax by the legislature exists unless the department promulgates a rule indicating its intention to do so.
HB503 Provides for the tax periods applicable to and amounts of tax credits for the new markets tax credit program.
HB508 Authorizes a state sales and use tax exemption for the purchase and installation of certain adaptive devices for persons with orthopedic disabilities.
HB600 Provides for an individual income tax exclusion for certain persons based on federal adjusted gross income.
HB606 Adds facilities supporting medical physicists residency programs to facilities eligible for the sales and use tax exemption for certain qualifying radiation therapy treatment centers.
HB615 Adds geothermal energy systems to systems eligible for the wind or solar energy systems tax credit.
HB616 Provides for changes to the exemption for ships and ships’ supplies.
HB618 Revises the definition of “hurricane recovery entity” for purposes of the individual income tax deduction for hurricane recovery benefits.
HB620 Excludes from state income taxation certain payments for lost wages and lost income as a result of the Gulf Oil Spill.
HB627 Provides for a sales and use tax exemption for purchases of certain construction and building materials pur-chased by or for NOLA Motorsports Park.
The Louisiana Departmen of Revenue has issued Revenue Information Bulletin (RIB) 11-010, which pertains to the taxability of certain software and media products.
The Department is repealing the implementation of Revenue Ruling No. 10-001, which addresses the issue of whether sales, use and/or lease tax is due upon the purchase or use of products, computer software and applications, or stored media and/or other materials electronically delivered into Louisiana, which are accessed from instate or out-of-state providers or vendors. Revenue Ruling No. 10-001 is available on the LDR’s website using the link provided.
BATON ROUGE – Save money while protecting your home and your family from hurricanes.
The 2011 Louisiana Hurricane Preparedness Sales Tax Holiday takes place Saturday, May 28, and Sunday, May 29. During these two days, specified emergency supplies are exempt from the 4 percent state sales tax.
“This is a good opportunity to stock up on the basic items families need in the event of a strong storm,” Governor Bobby Jindal said. “The fact is when storms or other emergencies impact our state, power is down, streets are covered with debris and sometimes high waters prevent folks from going to the store and getting what they need. This tax holiday doesn’t just make financial sense, it’s about reminding folks to Get-a-Gameplan, get prepared, and take steps now to protect their family in the event of a storm.”
The sales tax exemption applies to the first $1,500 of the purchase price of each of the following items:
- Self-powered light sources, such as flashlights and candles
- Portable self-powered radios, two-way radios, and weather-band radios
- Tarpaulins or other flexible waterproof sheeting
- Ground anchor systems, straps or tie-down kits
- Gas or diesel fuel tanks
- Batteries, sizes AAA, AA, C, D, 6-volt, or 9-volt (Automobile batteries and boat batteries are ineligible)
- Cellular phone batteries and chargers
- Non-electric food storage coolers
- Portable generators
- Storm shutter devices (Materials and products manufactured, rated, and marketed specifically for the purposes of preventing window damage from storms)
- Carbon monoxide detectors
- “Blue Ice” (and similar re-usable cooling products)
The 2011 Louisiana Hurricane Preparedness Sales Tax Holiday does not apply to items or supplies purchased at airports, public lodging establishments, hotels, convenience stores, or entertainment complexes.
For more information, visit www.revenue.louisiana.gov/hurricaneprep.
BATON ROUGE (May 17, 2011) – Louisiana taxpayers in areas of the state affected by the 2011 spring flood are eligible for extensions to file and pay state taxes, the Louisiana Department of Revenue (LDR) announced Monday.
LDR will grant a 30-day filing extension for tax returns due May 15-31 on a case-by-case basis for taxpayers who:
- evacuated as the result of a mandatory order;
- engaged in preventative flood protection measures for homes or property located in an area projected to flood as a result of the opening of a spillway; or
- suffered damage to a home or property as a result of flooding on a date in which a return was due.
Taxpayers filing electronic returns should fax spring flood-related extension requests to 225-923-4069. Faxed requests should bear the title “2011 Flood Impact;” include the name and address of the residence or business; the type of tax; and the account number, along with a description of flood-related effects and reasons supporting the taxpayer’s inability to file a return by the deadline.
Paper-filed returns requesting spring flood extensions should be written in blue or black ink and have “2011 Flood Impact” written at the top of the return on page 1.
For more information, call 225-219-0102 for individual income taxes and 225-219-7462 for business taxes.
The Advocate reports that house and senate committees in the Louisiana legislature advanced bills that would repeal the state’s corporate and individual income taxes:
Three bills advanced:
n House Bill 633 by state Rep. Hunter Greene to repeal the state corporate income tax beginning Jan. 1. The bill would reduce state revenue by $81 million the first year.
n House Bill 634, also by Greene, to repeal the state personal income tax beginning Jan. 1. The bill would reduce state revenue by $3 billion the first year of the repeal.
n Senate Bill 259 by state Sen. Rob Marionneaux to phase out the state personal and corporate income taxes by Jan. 1, 2015.
Greg Albrecht, chief economist for the Legislative Fiscal Office, said HB633 and HB634 would eliminate half of the state general fund.
Health care and higher education rely heavily on the state general fund. “It would be quite a challenge,” Albrecht said.
Other states have an increased reliance on property and sales taxes rather than being dependent on income taxes, Albrecht said.
From the Advocate Acadiana Bureau:
Tax help for businesses
The Louisiana Department of Revenue will host a free seminar on sales tax at 2 p.m. May 16.
The seminar will be held at the department’s Lafayette office, 825 Kaliste Saloom Road.