Frequently Asked Questions
What are the changes made with the passge of the Constitutional Amendment #2 on November 13, 2021, by voters to Corporation Income Tax?
With the passage of Constitutional Amendment #2, the provisions of Act 396 of the 2021 Regular Session of the Louisiana Legislature became effective. Effective for income tax periods beginning on or after January 1, 2022, Act 396 repealed the federal income tax deduction in exchange for reduced tax rates. The new tax rates are 3.5% on the first $50,000 of net income, 5.5% on the next $100,000 of net income, and 7.5% on the excess over $150,000. (New question & answer posted on January 3, 2022.)