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re: Gov. John Bel Edwards wants big changes in how LA biz, individuals taxed
Posted on 3/17/17 at 8:08 am to tke857
Posted on 3/17/17 at 8:08 am to tke857
quote:That should kill any hope of developing a hi-tech start up industry in Louisiana.
replacing the current corporate tax on income with a corporate tax on sales
Those types of companies don't make a profit for years so taxing their sales will discourage them from establishing their business here.
5
Posted on 3/17/17 at 8:10 am to LSURussian
quote:
Those types of companies don't make a profit for years so taxing their sales will discourage them from establishing their business here.
yeah especially if they are ridding away or gutting most of the tax incentives for technology such as digital media tax credit.
I am not huge on tax credits here but there are a few that actually do what they are supposed to. Which is bolster a new sustainable and innovative industry in the state i.e. tech companies.
Posted on 3/17/17 at 8:23 am to LSURussian
Thank you.
A corporation generating revenues doesn't necessarily generate profits.
Good point.
A corporation generating revenues doesn't necessarily generate profits.
Good point.
Posted on 3/17/17 at 8:47 am to LSURussian
Corporations already pay Louisiana sales and use tax, I assume what he is proposing is something similar to Texas' gross margin tax. High tech start ups would likely still show a loss on this tax. Could be wrong though, out of the state and local game so I'm not researching it...
That being said, Louisiana isn't developing a high tech start up industry for the sole reason that it is Louisiana. Nothing to do with taxes.
That being said, Louisiana isn't developing a high tech start up industry for the sole reason that it is Louisiana. Nothing to do with taxes.
This post was edited on 3/17/17 at 8:50 am
Posted on 3/17/17 at 8:53 am to LSURussian
quote:
That should kill any hope of developing a hi-tech start up industry in Louisiana.
Those types of companies don't make a profit for years so taxing their sales will discourage them from establishing their business here.
This proposed tax system is exactly how's it's done in Texas, which has a decent start-up scene. If I'm not mistaken, the first $150,000 of gross receipts are exempt.
I thought y'all wanted our corporate tax to be like Texas? Is that not true any more?
Posted on 3/17/17 at 10:20 am to LSURussian
[QUOTE-]That should kill any hope of developing a hi-tech start up industry in Louisiana.[/QUOTE]
Certainly, but to be fair, was there ever a hope of that happening in the first place?
Certainly, but to be fair, was there ever a hope of that happening in the first place?
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