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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionLouisiana
Jurisdiction type: State
Fiscal year ending In2017
Program nameNew Markets Jobs Act Program
Program purpose: Capital investment
Statutory authority: LRS 47:6016.1
Abating jurisdiction(s): State of Louisiana
Applicable taxesInsurance Premium Tax; Fire Casualty Tax; Surplus Lines Tax; Retaliatory Tax
Method of abatement: Tax Credit
Provisions for recapture: If the company violates the terms of the agreement, or if the federal Tax Credit is recaptured by the IRS, the Department of Insurance shall recapture the claimed credit on a return.
Gross revenue loss: $4,675,020
Reimbursement / offset: $0
Net revenue loss: $4,675,020
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.doa.la.gov/doa/osrap/annual-financial-report/