Governor Bobby Jindal’s office confirmed yesterday that the governor want to eliminate all personal and corporate income taxes in the state. The bold move would put Louisiana on equal footing with Texas and Florida.
About 8 states presently have no income tax. Jindal wants to increase the state’s sales tax by 3% to cover the change. The state sales tax presently is at 4%.
The governor makes a great point when he talks about the complicated tax system presently in place in Louisiana. He’s right when he says it’s hard to understand and its burdensome.
Jindal’s proposal would wipe the slate clean and essentially start over with an increased sales tax and no income tax. This tax proposal by the governor could be his legacy. Jindal expects more businesses than ever to come to Louisiana with a more inviting tax structure. Also, individuals would not have to pay a state income tax although all purchases will cost you 3 cents more on every dollar spent.
Jindal hopes Louisiana could become a haven for retirees.
Jindal’s “no income tax” plan should make things interesting up in Baton Rouge for the next few months.
1 Comment to “Jindal’s ‘No Income Tax’ proposal should make things interesting”
January 11, 2013 at 2:44 PM
Jindal better look at the cost of home insurance and property tax in Jefferson Parish. It has risen over 60 percent since Katrina. Us future retirees are considering leaving instead of having to pay $ 8000.00 a year to live in our homes with no house payments. St. Bernard pays $250.00 for $ 250,000 coverage on flood insurance. Mandeville $ 450.00 same coverage. Kenner $1,025 upward to several thousand same coverage, all through FEMA. Maybe you could find out why? It is not the flood zoning, I reviewed that one. We have never flooded in Kenner except when Broussard did not turn on the pumps, and we are paying for his mistake bigtime. Thanks for your time.