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Posted on 3/17/17 at 8:42 am
Posted on 3/17/17 at 8:42 am
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This post was edited on 9/18/22 at 3:42 pm
Posted on 3/17/17 at 8:44 am to cahoots
So would this be a good thing?
Posted on 3/17/17 at 8:46 am to cahoots
quote:
Louisiana's would be modeled on the one in Ohio, which imposes a 0.26 percent tax on all sales. Businesses that sell at least $150,000 a year must pay the tax.
And this would replace corporate income tax? Would likely be far more stable. Would also hit many services and intermediate goods up&down the supply chain
Posted on 3/17/17 at 8:47 am to 90proofprofessional
quote:
And this would replace corporate income tax?
More likely it would be a tack on. I don;t trust a single thing JBE wants to do. His first week in office, he said we can't cut our way out of a deficit. He wants more taxes without cuts. frick JBE
Posted on 3/17/17 at 8:49 am to CoachChappy
quote:
More likely it would be a tack on.
The thing is, our corporate tax hasn't raised very much in recent years. So I could see the dems actually being willing to get rid of it in exchange for this
Posted on 3/17/17 at 8:55 am to CoachChappy
quote:
More likely it would be a tack on. I don;t trust a single thing JBE wants to do. His first week in office, he said we can't cut our way out of a deficit. He wants more taxes without cuts. frick JBE
Literally the first line in the article says it would be a replacement, not a tack-on.
JBE is proposing changing our corporate tax system to mirror the one in Texas. Isn't that what Republicans want?
Posted on 3/17/17 at 8:56 am to cahoots
i think the LA Constitution is an obstacle for getting our property taxes that high
Posted on 3/17/17 at 9:27 am to 90proofprofessional
quote:
i think the LA Constitution is an obstacle for getting our property taxes that high
The state of La. collects NO property taxes. Property taxes are all parish wide or local.
Posted on 3/17/17 at 9:39 am to doubleb
yeah, isn't it the case that the state CAN'T do property taxes constitutionally? or something like that?
Posted on 3/17/17 at 9:41 am to 90proofprofessional
The state can't repo property for unpaid property taxes, so any statewide property taxes are basically unenforceable.
Posted on 3/17/17 at 9:44 am to 90proofprofessional
quote:
yeah, isn't it the case that the state CAN'T do property taxes constitutionally? or something like that
I am not sure.
I know the Constitution sets the Homestead Exemption, but I know all property taxes are below the state level.
Posted on 3/17/17 at 9:44 am to cahoots
He should end film welfare before he ask for a single dollar from the rest of the Louisiana business communtiy.
Posted on 3/17/17 at 9:47 am to doubleb
The only thing the Louisiana Constitution does on property taxes is to set the Homestead Exemption which I believe still sits at 75K on the first 75K. After that, the local Assessors set the millage rates.
If you could amend the LA Constitution to change the exemption to the 2nd 75K of value, we would probably get more overall revenue and with this GRT proposal we could probably solve a good bit of the budget mess....but only if it is a replacement.
If you could amend the LA Constitution to change the exemption to the 2nd 75K of value, we would probably get more overall revenue and with this GRT proposal we could probably solve a good bit of the budget mess....but only if it is a replacement.
Posted on 3/17/17 at 9:53 am to cahoots
quote:
JBE is proposing changing our corporate tax system to mirror the one in Texas. Isn't that what Republicans want?
Actually it appears to be modeled on Ohio.
quote:
Louisiana's would be modeled on the one in Ohio, which imposes a 0.26 percent tax on all sales. Businesses that sell at least $150,000 a year must pay the tax.
But JBE also wants to tax certain things that aren't taxed, like cable service and internet like they are in Texas.
So not only a change in how they tax but an increase in the things that can be taxed too.
Posted on 3/17/17 at 9:56 am to KiwiHead
quote:
If you could amend the LA Constitution to change the exemption to the 2nd 75K of value, we would probably get more overall revenue and with this GRT proposal we could probably solve a good bit of the budget mess....but only if it is a replacement
Since the state doesn't collect any sales taxes, how would this help the state's budget?
Posted on 3/17/17 at 9:58 am to KiwiHead
We need to amend the constitution to allow property taxes on churches and non profits.
Posted on 3/17/17 at 9:59 am to 90proofprofessional
quote:our constitution is an obstacle for just about any progress ever being made in this state
i think the LA Constitution is an obstacle for getting our property taxes that high
Posted on 3/17/17 at 10:03 am to bbrownso
There is some merit to this however I think it should be coupled with much broader tax reform too.
First off we do need to address property tax. I know this is poltiically a hard sale but not as hard as it would have been in the past I think---we need to eliminate the homestead exemption, the ten year industrial tax exemption and modify the farmstead tax model WHILE HOLDING COLLECTIONS THE SAME for one year while millages adjust--this will dramatically lower the overall millages and for many would result in lower property tax not higher. By putting this much property on the books local governments do not have to burden property with such high rates. We could push some more state spending back to the local level since the tax base would be so much larger.
We do need to work to eliminate the individual income tax altogether. A gross receipts tax will be hitting a HUGE amount of revenue in the state and could replace the income tax for both individuals and corporations.
We need toll roads. (Lets build the Zachary Taylor Parkway between Bogalusa and Vinton as a private/public toll road greatly reducing the burden on the I-10 corridor. We could then put toll roads around Baton Rouge connecting I-10 and the parkway and giving much need relief on downtown traffic. This is a need that we are going to have to address---let's do it with private funding.)
Making the tax system more fair does not alleviate the need to reduce state spending.
Not a single dollar of taxes should be raised until things like Film Industry Welfare are eliminated.
First off we do need to address property tax. I know this is poltiically a hard sale but not as hard as it would have been in the past I think---we need to eliminate the homestead exemption, the ten year industrial tax exemption and modify the farmstead tax model WHILE HOLDING COLLECTIONS THE SAME for one year while millages adjust--this will dramatically lower the overall millages and for many would result in lower property tax not higher. By putting this much property on the books local governments do not have to burden property with such high rates. We could push some more state spending back to the local level since the tax base would be so much larger.
We do need to work to eliminate the individual income tax altogether. A gross receipts tax will be hitting a HUGE amount of revenue in the state and could replace the income tax for both individuals and corporations.
We need toll roads. (Lets build the Zachary Taylor Parkway between Bogalusa and Vinton as a private/public toll road greatly reducing the burden on the I-10 corridor. We could then put toll roads around Baton Rouge connecting I-10 and the parkway and giving much need relief on downtown traffic. This is a need that we are going to have to address---let's do it with private funding.)
Making the tax system more fair does not alleviate the need to reduce state spending.
Not a single dollar of taxes should be raised until things like Film Industry Welfare are eliminated.
This post was edited on 3/17/17 at 10:04 am
Posted on 3/17/17 at 10:03 am to 90proofprofessional
quote:
The thing is, our corporate tax hasn't raised very much in recent years. So I could see the dems actually being willing to get rid of it in exchange for this
After implementation...
I could then see the Dems argue that the corporations are now only paying 1% tax.
They would then get their low info paid protestors to riot in the streets.
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