ARTICLE
21 June 2024

Louisiana Heads Toward Fiscal Cliff – Time For Tax Reform

JW
Jones Walker

Contributor

At Jones Walker, we look beyond today’s challenges and focus on the opportunities of the future. Since our founding in May 1937 by Joseph Merrick Jones, Sr., and Tulane Law School graduates William B. Dreux and A.J. Waechter, we have consistently asked ourselves a simple question: What can we do to help our clients succeed, today and tomorrow?
As Louisiana heads towards a fiscal cliff, the Department of Revenue has been tasked with developing a plan to avoid the cliff and to address long called-for tax reform. Richard Nelson, Secretary of the Department...
United States Louisiana Tax

As Louisiana heads towards a fiscal cliff, the Department of Revenue has been tasked with developing a plan to avoid the cliff and to address long called-for tax reform. Richard Nelson, Secretary of the Department of Revenue, reports that his Department is 1) reviewing approximately 200 sales tax exemptions for possible amendment, 2) reviewing the possibility of taxing digital goods and services and 3) considering the taxation of additional services that are not currently subject to sales tax. He also discussed the possibility of decreasing personal and corporate income taxes. His presentation to members of the state legislative committees that are responsible for drafting tax legislation is part of the administration's preparation for the upcoming 2025 fiscal session, or possibly a special session to deal with the fiscal cliff. A spokesman for the Department indicated that the Secretary would recommend that a number of sales tax exemptions be eliminated or modified.

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