Section 47:32 - Rates of taxA. On individuals. The tax to be assessed, levied, collected, and paid upon the taxable income of an individual shall be computed at the rate of three percent on net income.
B. Joint returns of individuals. In the case of a joint return of husband and wife under R.S. 47:101 B, the combined tax under Sub-section A of this Section shall be twice the combined tax that would be determined if the net income and the applicable credits against net income provided by R.S. 47:79 were reduced by one-half.C. On corporations. The tax to be assessed, levied, collected, and paid upon the taxable income of every corporation shall be computed at the rates provided for in R.S. 47:287.12.Amended by Acts 1950, No. 445, §1; Acts 1968, No. 106, §2; Acts 1969, No. 124, §1; Acts 1977, 1st Ex.Sess. No. 2, §1; Acts 2002, No. 51, §1, eff. Jan. 1, 2003; Acts 2008, No. 396, §1, eff. June 22, 2008; Acts 2021, No. 395, §1, eff. Jan. 1, 2022; Acts 2021, No. 396, §1, eff. Jan. 1, 2022.Amended by Acts 2024EX3, No. 11,s. 4, eff. 12/4/2024, app. 1/1/2025.Amended by Acts 2024EX3, No. 11,s. 2, eff. 12/4/2024, app. 1/1/2025.Amended by Acts 2021, No. 396,s. 1, eff. 1/1/2022.Amended by Acts 2021, No. 395,s. 1, eff. 1/1/2022.Amended by Acts 1950, No. 445, §1; Acts 1968, No. 106, §2; Acts 1969, No. 124, §1; Acts 1977, 1st Ex.Sess. No. 2, §1; Acts 2002, No. 51, §1, eff. 1/1/2003; Acts 2008, No. 396, §1, eff. 6/22/2008.