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Could a flat tax rate be coming to Louisiana?

Source: theadvertiser.com/story/news/local/louisiana/2017/05/08/could-flat-tax-rate-coming-louisiana/101443514/ - May 11, 2017

BATON ROUGE — The House Committee on Ways and Means Monday moved without opposition legislation to the House floor for full debate that would dramatically change Louisiana’s tax system.

A package authored by Rep. Barry Ivey, R-Baton Rouge, would institute a flat corporate and individual income tax rate that would raise the standard deduction for single Louisianans to $12,500 and for married couples filing jointly to $25,000.

In turn, Ivey’s package would eliminate almost all itemized deductions. Certain charitable donations would remain deductible, along with an exception for families with children living with disabilities.

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Category: General Business