Moret: Tax Changes Would Push State Forward
By: Louisiana Economic Developement
Updated: February 20, 2013
Louisiana Economic Development Secretary Stephen Moret's letter to the editor builds the case for tax reform in Louisiana:
"When deciding where to place major job-creating projects, corporate executives often choose among several states with comparable location advantages. Taxes usually are among their top site-selection criteria.
The Tax Foundation reports Louisiana's state/local tax burdens for individuals and corporations are among the lowest in the country once our myriad state tax exemptions are considered. Yet our state's tax structure often is poorly perceived because of its complexity. ...
Eliminating income taxes in a revenue-neutral manner and improving sales tax administration would dramatically simplify our tax system, reducing administrative headaches for families and small businesses.
Louisiana would climb from No. 32 to approximately No. 4 in the State Business Tax Climate Index. Moreover, Louisiana's position would improve in a dozen other national rankings of tax competitiveness or business climate.
Most importantly, our state would become more attractive for business investment, meaning more and better job opportunities for Louisiana citizens and enhanced growth prospects for Louisiana's small businesses. ..."
