incentives & taxes
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The state of Louisiana has a competitive package of incentives for new and existing businesses including infrastructure grants, tax rebates, and tax credit programs developed to assist in the recovery and growth after the 2005 hurricanes. Companies locating to the Port of Avoyelles and other parts of Avoyelles Parish also benefit from two federal programs: Renewal Community and the New Markets Tax Credit Initiative. The Port and Parish are proactive in their approach to collaborating on a mutually beneficial incentive package for development.
Incentives
Special Federal Incentives:
- Gulf Opportunity Zone
- Enhanced Section 179 expensing for small businesses
- Fifty percent bonus depreciation for expansion or new building construction
- Increase in the Rehabilitation Tax Credit to help restore commercial buildings
- Employer-provided housing incentives
- Expansion and extension of the Employee Retention Tax Credit
- Extension of the net operating loss carryback period
- Reduction of demolition and cleanup costs
- Renewal Community
Three-part program: (1) $1,500 to $3,500 per new job created per year until 2010;
(2) Zero percent capital gains rate: if held for 5 years; and (3) 50% depreciation deduction for the first year, not to exceed $10 million, and fully depreciated after the 10th year.
- Community Development Block Grants
Grant of $10,000 per new job to expanding and new companies for infrastructure projects.
- New Markets Tax Credit
5% to 6% tax credit of the amount invested for each of the years the investment is held for up to 7 years.
State of Louisiana
- Quality Jobs Program
Annual cash rebate up to 6% of payroll for a period of up to 10 years; and a sales tax rebate (local and state) up to 8.5%.
- Industrial Property Tax Exemption
Exempts new or expanded manufacturing facilities from property tax for up to 10 years.
- Sales and Use Tax Exemption
Louisiana businesses receive an exemption of the
4 percent state sales, use, lease and rental tax on eligible machinery & equipment purchased in the state. Sales tax on these purchases will be phased out completely by 2010.
- Enterprise Zone
Tax credits & rebates for hiring workers within a designated zone.
- Inventory Tax Credit
100% income tax credit on inventory taxes paid.
- Film and Video Production Tax Credit
Allows tax credits on percentage of production costs associated with motion picture production companies producing nationally distributed movies, videos, commercials, television series, etc.
Download our brochure on Louisiana incentives and financing programs.
Local and State Taxes
- Sales Tax Rate
- Local Sales Tax
Range: 8% - 9% (including Louisiana 4%)
- State Sales Tax: 4%
- Real Property (per $1000 of assessed value)
Only local and parish governments levy property taxes in Louisiana. There is no state tax.
Assessors are required by law to assess on improvements of industrial property at 15% of fair market value. (Land at 10%)
Private residences are assessed at 10% of fair market value. There is no property tax on the first $75,000.
- Avoyelles Parish Property Taxes
Municipal: 45.36 – 60.40
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