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Started By
Message
JBE wants gross receipts tax and end all business credits EXCEPT film--
Posted on 3/26/17 at 9:55 am
Posted on 3/26/17 at 9:55 am
How did film welfare become so sacred???
$$$$$$$$
LINK
The common denominator in the history of our give away of billions to the film industry during the administration of three governors is Jay Dardenne.
$$$$$$$$
LINK
The common denominator in the history of our give away of billions to the film industry during the administration of three governors is Jay Dardenne.
quote:
Edwards' plan to replace the corporate income and franchise taxes with a gross receipts tax could get at some of the same goals he set for income tax changes. His task force had recommended changing the corporate franchise tax, for example, and the gross receipts tax would allow the corporate franchise tax to be eliminated altogether.
Likewise, Edwards had been interested in eliminating a tax deduction based federal tax burden that applies to state corporate income taxes, the same measure that failed at the polls in November. If the gross receipts tax replaces the corporate income tax entirely, that deduction would no longer apply despite being enshrined in the state Constitution. The same might be true of some other business income tax breaks as well.
All business tax credits would not be eliminated through a gross receipts tax. For example, a gross receipts tax would have no effect on film tax credits issued in Louisiana, on which the state is expected to spend $180 million in the current fiscal year.
10
Posted on 3/26/17 at 10:07 am to I B Freeman
A gross receipts tax will be passed onto every consumer, and unlike a sales tax it will be calculated on the invoiced amount which would include labor, Mark up, etc.
If you build a house the contractor will pass the tax along. If you have your car repaired you will be charged.
If you build a house the contractor will pass the tax along. If you have your car repaired you will be charged.
Posted on 3/26/17 at 10:09 am to I B Freeman
I am sick and tired of my tax dollars going straight into the accounts of out of state corporations. Tax credits are just another way to distribute wealth by the state and should be used rarely and with strict oversight.
Posted on 3/26/17 at 10:18 am to doubleb
quote:
A gross receipts tax will be passed onto every consumer, and unlike a sales tax it will be calculated on the invoiced amount which would include labor, Mark up, etc.
One bad thing is that it will tax shipments outside the state too. That could lessen the competitive position of Louisiana based manufacturers BUT I might prefer it to the corporate income tax AND I think we could replace some of the personal income tax with it too.
Posted on 3/26/17 at 10:19 am to I B Freeman
Because its revenue that never would have been here otherwise ?
Posted on 3/26/17 at 10:38 am to Machine
I really would like to see it coupled with property tax reform too. We should end the homestead exemption, the 10 year industrial tax exemption and the treatment of agricultural property while holding the collections of property tax the same thus forcing millages lower. Basically lower the rates of property tax by adding hundreds of millions to the property tax rolls.
Of JBE knows he is not collecting hardly any corporate tax thanks to the film tax credits and other tax credits so the GRT will be more money for the state. I prefer the GRT be revenue neutral allowing income taxes and sales taxes to be lowered for all.
Of JBE knows he is not collecting hardly any corporate tax thanks to the film tax credits and other tax credits so the GRT will be more money for the state. I prefer the GRT be revenue neutral allowing income taxes and sales taxes to be lowered for all.
Posted on 3/26/17 at 10:46 am to I B Freeman
Governor Tax and Spend fooled enough morons into believing the honor code shite.
Hopefully they are smart enough to realize that fricking the whole state is worse than a few professional sex workers.
Hopefully they are smart enough to realize that fricking the whole state is worse than a few professional sex workers.
This post was edited on 3/26/17 at 10:47 am
Posted on 3/26/17 at 10:47 am to I B Freeman
JBE needs to just be recalled
Posted on 3/26/17 at 10:55 am to I B Freeman
What would the rate be? Ohio has a Commercial Activity Tax that replaced corporate income tax and they also did away with property tax. The rate in Ohio is .26%, and has a million dollar exclusion.
Nevada instituted a Commerce Tax with a four million dollar exclusion. Their rate varies based on industry code.
Nevada instituted a Commerce Tax with a four million dollar exclusion. Their rate varies based on industry code.
Posted on 3/26/17 at 11:11 am to CubsFanBudMan
He has not said but I am sure he wants more revenue. He will only give the citizens what he feels he needs too to garner support of the GRT. He wants his hands on more money to pass around to potential political contributors like health providers and DOT vendors.
I would support a GRT if it eliminates the right taxes and if it is imposed on all receipts without exemptions for certain classes of business.
I would support a GRT if it eliminates the right taxes and if it is imposed on all receipts without exemptions for certain classes of business.
Posted on 3/26/17 at 11:21 am to I B Freeman
PAR's take on the Gross Receipts Tax
Just came out Friday.
Haven't sifted through all the issues yet myself, but I found this to be helpful.
Just came out Friday.
Haven't sifted through all the issues yet myself, but I found this to be helpful.
Posted on 3/26/17 at 11:35 am to BigJim
quote:
? It might be too much too fast. This idea is not
familiar territory for state legislators or the public.
An intensive education process will be needed,
and time is short. The session begins in less
than three weeks.
big changes always have this argument.
quote:
? If the business community and conservative
legislators view the proposal as a Trojan Horse
in the name of tax reform, if in fact it is meant
as a major revenue raising tool, it will be distrusted
and will be hard to pass.
That is exactly right.
quote:
? The concerns of small businesses that file under
the individual income tax and now would be
subject to the gross receipts tax are likely to be
heard loud and clear.
Small businesses should have to pay it too. It will be a flat tax and the fewer exemptions the smaller the tax.
Posted on 3/26/17 at 11:44 am to I B Freeman
quote:
The common denominator in the history of our give away of billions to the film industry during the administration of three governors is Jay Dardenne.
Funny thing is that he had actually had the nerve to brand himself as a fiscal conservative when he ran for governor in 2015.
This welfare program is his baby through and through and he has never apologized for it much less acknowledged its drawbacks. But that doesn't absolve Jindal and JBE from condoning his bullshite.
Dardenne is a glorified moocher living off the public tit. So glad he never earned my vote.
Posted on 3/26/17 at 1:03 pm to I B Freeman
quote:
A gross receipts tax would be made worse if:
? It keeps all the same complicated set of credits
and deductions. Moving to a new system is an
opportunity to shed credits and deductions to
apply business taxes more evenly and with better
revenue stability.
Thought you would like that too
Posted on 3/26/17 at 1:03 pm to I B Freeman
Property taxes are for local government, not state. The state has no teeth to enforce a property tax on private citizens by design. Trust me, you don't want a repeat of what our state government did the last time it had the power to repo private property for unpaid property taxes.
Posted on 3/26/17 at 1:07 pm to kingbob
quote:
Property taxes are for local government, not state.
True but the basic laws surrounding property tax are state laws.
I would support ending the inventory tax altogether with a GRT too.
Posted on 3/26/17 at 1:10 pm to BigJim
quote:
A gross receipts tax would be made worse if:
? It keeps all the same complicated set of credits
and deductions. Moving to a new system is an
opportunity to shed credits and deductions to
apply business taxes more evenly and with better
revenue stability.
Thought you would like that too
All those special treatments need to end without significantly raising revenue for bigger government.
If a GRT is to exist then those special interest tax treatments need to disappear. The film credits, music credits, digital credits ect. are not tax credits at all. They are pure spending.
Posted on 3/26/17 at 1:11 pm to I B Freeman
Inventory tax absolutely needs repeal.
Posted on 3/26/17 at 8:43 pm to I B Freeman
The end game won't be to lower taxes, watch.
Posted on 3/26/17 at 8:46 pm to doubleb
No.
Republicans (mostly RINOs in La. legislature) should insist it be revenue neutral.
Republicans (mostly RINOs in La. legislature) should insist it be revenue neutral.
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