Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
Louisiana modifies approval process for the Industrial Tax Exemption Program On February 21, 2024, the governor of Louisiana signed Executive Order Number JML 24-23 (“EO No. 24-23”), revising the Louisiana Industrial Tax Exemption Program (“ITEP”). The ITEP was established in 2016 to provide property tax abatements and exemptions to eligible manufacturers investing in the State. Among other revisions, EO No. 24-23 revises the standards and approval process for the ITEP. The most notable change is the removal of the previously required job creation condition for eligibility. The revisions set forth criteria that the governor and the Board of Commerce and Industry will consider for purposes of deciding what is in the best interests of the State and which ITEP projects will be approved.
This Multistate Tax Alert summarizes some of the key provisions of EO No. 24-23. [Issued: April 19, 2024] More
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