There are five basic legal forms of business structures found in the United States: C corporations, S corporations, sole proprietorships, partnerships, and Limited Liability Companies (LLCs). In order to understand...
- The Tax Policy Blog
- State Budgets: Louisiana Governor Stands By Tax Cuts and ...
State Budgets: Louisiana Governor Stands By Tax Cuts and Tax Credits; Holds Off Using Rainy Day Fund
Louisiana Gov. Bobby Jindal (R) expects the $1.3 billion shortfall in current $30 billion budget will worsen. He has urged efficiencies such as $25 million from a hiring freeze and other cuts, and is also studying program elimination. Jindal has refused to consider drawing down the state's $280 million rainy day fund until next year, or using $800 million in reserves, or postponing $380 million in "Stelly rollback" income tax cuts that take effect next year. He remains supportive of Louisiana's costly film tax credit, and has cautioned income tax repeal proponents of the need to replace the revenue.
More on Louisiana here.
Subscribe to the Tax Foundation Newsletter
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.