The Pelican Institute today released a comprehensive package of solutions aimed at improving Louisiana’s tax system.
To address Louisiana’s ongoing revenue problems, the proposal from the New Orleans-based, right-leaning think tank would reform both individual and corporate taxes in the state with the goal of making the system simpler, flatter and more predictable.
For individuals, the group says state government should lower tax brackets, eliminate the federal tax deduction from the state Constitution, eliminate excess itemized deductions used by a small percentage of tax filers and eliminate other tax preferences—such as refundable tax credits or targeted tax preferences like the historic preservation credit.
Reforms to corporate tax collections highlighted in the package include repealing franchise taxes, inventory taxes, inventory tax credits along as well as so-called jobs “incentive” programs, which the Pelican Institute says incorrectly rely on lawmakers or state bureaucrats to determine what programs best aid the Louisiana job market and economy.
The tax solution package is the latest in Pelican Institute’s series of policy papers under the nonpartisan policy platform, “A Jobs and Opportunity Agenda for Louisiana.” Read the full tax proposal.