La. Admin. Code tit. 13 § I-1715

Current through Register Vol. 50, No. 3, March 20, 2024

Section I-1715 - Taxes to be Exempt

A. The Department of Economic Development shall report to the governor and to the Joint Legislative Committee of the Budget the effect upon the applicant of the taxes or portions thereof to be exempt. Taxes that may be exempted include:

1. the corporation franchise tax;

2. sales and use taxes imposed by the state on any goods, services, material and supplies necessary for or used in manufacturing or production of a product or consumed by the applicant;

3. sales and use taxes imposed by the state on machinery and equipment to be used by the applicant, or materials and building supplies, whether purchased directly or through a contractor, to be used in the repair, reconstruction, modification or construction of plant and facilities;

4. the corporation income tax;

5. any other taxes imposed directly by the state on the applicant.

B. The Department of Economic Development shall recommend to the governor, such tax relief as shall be appropriate to and consistent with the purposes of statute and these rules. Provided, however, that the governor and the Joint Legislative Committee on the Budget shall agree to a determination of the relief to be provided by contract with the applicant subject to a maximum amount of exemption from taxation.

La. Admin. Code tit. 13, § I-1715

Promulgated by the Department of Commerce, Office of Commerce and Industry, Finance Division, LR 11:944 (October 1985), amended by the Department of Economic Development, Office of Business Development Services, LR 37:3499 (December 2011).

AUTHORITY NOTE: Promulgated in accordance with Act 403 of 2005 amending R.S. 47:4301-4306.