Home News State Major tax reform appears dead on arrival

Major tax reform appears dead on arrival

313

Rep. Barry Ivey, R-Baton Rouge, confers with Clerk of the House Alfred Speer following a vote to shelve House Bill 360. Ivey’s business tax reform measure failed to achieve the needed two-thirds vote required to pass.

BATON ROUGE — One of the last major tax reform packages of the session, one that overhauls the state’s tax code, likely is dead in the House after a core piece of Baton Rouge Republican Barry Ivey’s legislation was shot down Tuesday evening.

House Bill 360, which needed the two-thirds approval for revenue measures, fell short, 58-31 vote. The bill proposed a flat corporate tax rate of 6.5 percent and removed the deductibility of federal income taxes from corporate tax filings in state.

HB360 was one in a slew of tax bills authored by Ivey. Substantive

OR
OR

NO COMMENTS