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Economic Competitiveness in Louisiana-The Inventory Tax Credit

Economic Competitiveness in Louisiana: The Inventory Tax Credit

Louisiana’s local inventory tax is assessed on tangible personal property used in a business. This includes goods awaiting sale, commodities that are in the course of production, and raw materials and supplies. Examples of taxable items include retail or wholesale merchandise, commodities from farms, repair parts, and manufacturing by-products, among others.

For decades, Louisiana has maintained an ad valorem tax on inventory held by manufacturers, distributors, and retailers that is assessed and collected by local government. In 1991, the Louisiana Legislature authorized a five-year phase-in […]

Lawmakers say budget process needs change

State Rep. Lenar Whitney, R-Houma, speaks Tuesday at the Houma-Terrebonne Chamber of Commerce luncheon in Houma.
Chris Heller/Staff

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By Aaren Gordon
Staff Writer
Published: Tuesday, February 24, 2015 at 7:40 p.m.

Several members of the local legislative delegation agreed Tuesday that the state has to change its budget structure as it faces a $1.6 billion deficit for the coming fiscal year.

Addressing the Houma-Terrebonne Chamber of Commerce, Sen. Bret Allain, R-Franklin, said the state cannot continue to use patchwork financing with one […]

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