Post by pavel on Apr 21, 2016 5:06:16 GMT -6
Louisiana continues to pay more to corporations in tax rebates than it receives
BATON ROUGE -- The Louisiana treasury has continued to pay out more to corporations in tax rebates this year than it has collected from them in tax receipts, the latest figures show.
The state had paid out $152 million more to corporations than it had collected in corporate income and franchise taxes through March, according to the Department of Revenue.
"A negative number is always a concern," said Jay Dardenne, who as commissioner of administration drew up a budget that closes a $750 million budget deficit before the regular session ends on June 6 by making deep cuts in funding for higher education and safety-net hospitals.
State officials have projected that corporate tax collections will reach $359 million through June 30. That would require a $511 million turnaround over the next three months.
Read more: www.houmatoday.com/article/20160420/WIRE/160429981/1319?Title=Louisiana-continues-to-pay-more-to-corporations-in-tax-rebates-than-it-receives
BATON ROUGE -- The Louisiana treasury has continued to pay out more to corporations in tax rebates this year than it has collected from them in tax receipts, the latest figures show.
The state had paid out $152 million more to corporations than it had collected in corporate income and franchise taxes through March, according to the Department of Revenue.
"A negative number is always a concern," said Jay Dardenne, who as commissioner of administration drew up a budget that closes a $750 million budget deficit before the regular session ends on June 6 by making deep cuts in funding for higher education and safety-net hospitals.
State officials have projected that corporate tax collections will reach $359 million through June 30. That would require a $511 million turnaround over the next three months.
Read more: www.houmatoday.com/article/20160420/WIRE/160429981/1319?Title=Louisiana-continues-to-pay-more-to-corporations-in-tax-rebates-than-it-receives