New Legislation Could Eliminate Personal State Income Taxes
Today is tax day and a Louisiana lawmaker is introducing legislation to be considered for the upcoming session that would eliminate personal state income taxes. New Orleans Representative Walker Hines says the Louisiana Fair Tax Act would eliminate corporate income taxes and corporate franchise taxes as well. Hines says if the state income taxes were eliminated, Louisiana could make up the money lost by taking some four-billion dollars in tax credits and exemptions off the books. Hines believes eliminating state taxes would benefit the Louisiana economy. He says he knows it will be a difficult to pass the bill this year.