Taxes inhibit business from investing in the state and growing the economy. Tax credits encourage businesses to expand and grow, which means more jobs and more tax dollars generated. It is crucial that Louisiana have a tax policy that encourages companies to locate here. Louisiana should improve the business climate for all companies, and not just for those in one particular industry.

Repeal “temporary taxes” on natural gas and utilities
Taxes on natural gas and utilities are making it increasingly difficult for manufacturing industries to compete in global markets. Louisiana is the only state in the nation in which business and industry pay a 3.3 percent sales tax on the use of natural gas and electricity.

Accelerate, as soon as practical, the repeal of the corporate franchise tax on long-term debt and the sales tax on machinery and equipment
Louisiana is the only southern state that does not exempt or heavily reduce the sales tax on machinery and equipment. It is also one of only a handful of states which includes corporate debt in the basis for determining the corporate franchise tax.

Put an end to all refinery and oil and gas processing tax proposals
The very mention of such taxes sends the message that the state is anti-business and has a chilling effect on future investment in Louisiana, not only in the petrochemical manufacturing sector but in other sectors as well.

Protect the Ten Year Industrial Tax Exemption
Protect the Ten Year Industrial Tax Exemption by providing a long-term, secure plan to ensure its preservation. Bills being introduced to eliminate or compromise this incentive discourage potential investments and expansions.

Protect Enterprise Zone (EZ) Program
Protect Enterprise Zone (EZ) Program, a jobs incentive program which provides Louisiana income and franchise tax credits to a business hiring a minimum number of net new employees. This Louisiana Economic Development Department program creates tax credits and sales/use tax rebates for businesses meeting the job creation requirements.

Reduce property tax burden on business
Develop fair and equitable property tax assessments and a broad based taxation system. Offer additional property tax abatement for investment in emission control equipment.

Insure state conformity with federal programs
State laws should track federal policies that provide tax and other types of relief in hurricane impacted areas.