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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 In2020
Program nameNew Market Tax Credit
Program purpose: Capital investment
Statutory authority: LRS 47:6016
Abating jurisdiction(s): State of Louisiana
Applicable taxesCorporate Income Tax; Corporate Franchise Tax; Individual Income Tax
Method of abatement: Tax Credit
Provisions for recapture: If a company fails to maintain qualified lowincome community investments in the state in an amount at least equal to the amount used in calculating the credits issued, then the credits awarded can be recaptured.
Gross revenue loss: $23,624
Reimbursement / offset: $0
Net revenue loss: $23,624
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.doa.la.gov/doa/osrap/annual-financial-report/