State of Louisiana Archives: on Corporations


John Bel Edwards: 80% of C-corps pay no state tax; that's just not right

Our corporate income tax structure is broken. It is far too laden with credits, exemptions, and deductions that put too much of the burden of funding critical state services on individuals. In fiscal year 2015, 80% of Louisiana corporations did not pay any state income tax. For C corps, those businesses that are taxed at the entity level, 80,000 out of 101,000 did not pay any income taxes. That's just not right. Basic fairness demands that we do better.

My proposal will ensure that those 80,000 C corps that pay no income taxes do their part. The Commercial Activity Tax--or CAT--is based on gross receipts, but will be a minimal graduated amount for businesses with gross receipts of less than $1.5 million. Corporations with receipts of over $1.5 million will pay 0.35% of their gross receipts.

For all other businesses in Louisiana--S corps, LLCs and partnerships, there will be no percentage tax. These entities will instead be assessed with a set and graduated tax, based on their gross receipts.

Source: 2017 Louisiana State of the State address Apr 10, 2017

Thomas Clements: Eliminate corporate tax to create jobs & avoid more debt

Q: Do you agree or disagree with the statement, "Stimulus better than market-led recovery"?

A: US National Debt over 19.4 [trillion dollars] is bankrupting us. Refurbish job killing tax code to boost our economy and eliminate corporate income tax to create jobs. Fiscally responsible Americans.

Source: Email interview on 2016 Louisiana Senate race by OnTheIssues Jul 31, 2016

Charles Melancon: Supported $30 billion small-business lending fund

Melancon voted for the Small Business Tax and Lending Bill, which established a $30 billion small-business lending fund administered by the U.S. Treasury. The money was directed to community banks to lend to small businesses.

Melancon is a former small businessman, having operated an insurance agency and several ice cream stores. "I had to worry about making payroll and staying in business and creating jobs," Melancon said.

Vitter didn't vote on the measure, saying his absence was equal to a "no" vote. The bill passed.

Vitter, who sits on the Senate Small Business and Entrepreneurship Committee, joined fellow Republicans in calling the measure another government bailout that would do little to stimulate small business and didn't provide enough tax breaks.

Source: Baton Rouge Advocate on of 2010 Louisiana Senate debate Oct 18, 2010

David Vitter: Small Business Tax and Lending Bill is a government bailout

Melancon voted for the Small Business Tax and Lending Bill, which established a $30 billion small-business lending fund administered by the U.S. Treasury. The money was directed to community banks to lend to small businesses.

Melancon is a former small businessman, having operated an insurance agency and several ice cream stores. "I had to worry about making payroll and staying in business and creating jobs," Melancon said.

Vitter didn't vote on the measure, saying his absence was equal to a "no" vote. The bill passed.

Vitter, who sits on the Senate Small Business and Entrepreneurship Committee, joined fellow Republicans in calling the measure another government bailout that would do little to stimulate small business and didn't provide enough tax breaks.

Source: Baton Rouge Advocate on of 2010 Louisiana Senate debate Oct 18, 2010

John Neely Kennedy: Disallow bank getting so big that its failure wrecks economy

Both candidates offered differing views of how to ease the national economic crisis. Kennedy said federal officials should suspend accounting rules that financial industry representatives blame for exacerbating the problems. He said Congress should put limits on the nation’s banks and lending firms. “Never again can we allow a financial institution to get so big that its failure can wreck our economy,” he said.
Source: 2008 Louisiana Senate Debate by Associated Press on NOLA.com Oct 16, 2008

  • The above quotations are from State of Louisiana Politicians: Archives.
  • Click here for definitions & background information on Corporations.
  • Click here for other issues (main summary page).
2016 Presidential contenders on Corporations:
  Republicans:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI)
Democrats:
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
Please consider a donation to OnTheIssues.org!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
E-mail: submit@OnTheIssues.org
(We rely on your support!)

Page last updated: Sep 26, 2017