The 2023 Louisiana Legislative session is now under way, and lawmakers have two months worth of work ahead of them.
"There are over 800 bills filed, and most of those have to do with corporate taxes," University of Louisiana political science professor Pearson Cross told WWL's Newell Normand. "Senate Bill 1 repeals the corporate franchise tax. People have hated the franchise tax for a long time. They'd like to get rid of it with the Republican majority."
Cross also noted that lawmakers will consider phasing out the inventory tax.
"(It's) another onerous tax that businesses hate and reduces competitiveness," Cross said.
If you're waiting for lawmakers to abolish the state's personal income tax, Cross says don't hold your breath.
"Nothing is going to get passed to rid of the income tax generally while Edwards is governor," Cross said. "That currently brings in about three billion dollars to the state treasury. It's really unclear what would happen if the income tax in Louisiana went away."
While the corporate taxes will occupy much of lawmakers' attention, Cross says Governor John Bel Edwards's budget proposal will be the main focus for lawmakers during the session.
"He's got spending in there for higher education, for teacher raises, (and) for other kinds of things."
Cross added that lawmaker might balk at some of those items even though the state has higher-than-expected revenues.
"The House and the Senate, of course now with a supermajority in both branches thanks to Francis Thompson's switch, is going to be looking at those with what I would call a jaundiced eye, saying, "Do we really want to spend all these dollars?"
