Federal Incentives
Gulf Opportunity Zone Act of 2005
GO Zone - JW Summary (PDF file)
2008 Economic Stimulus Act
Louisiana Business Incentives
Louisiana
Business Incentives Page (PDF)
Link to the Louisiana Department of Economic Development
Incentives Page and Application
Community Development Block
Grant Funds (for Economic Development Projects) Brochure-(Front)
Community Development Block
Grant Funds (for Economic Development Projects) Brochure-(Back)
Atchafalaya Heritage Area Development Zone Tax Credit
Program (< 20 employees)
Taxes and Incentives
Local and State Taxes | Local Incentives | State Incentives
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 expansion and location of businesses.
Ascension Parish is fortunate to have been considered part of the federal Gulf Opportunity Zone (GO Zone), though the parish did not suffer any devastation. GO Zone is special federal incentive package benefiting businesses that locate in federally designated areas. There is also increased grant funding available for infrastructure projects through the Community Development Block Grant program.
Local and State Taxes
Tax |
State |
Local |
Sales and Use |
4% |
4.5% parish rate |
Local Business Tax |
None |
None |
Corporate
Income |
- Four percent on the first $25,000 of net income
- Five percent on the next $25,000
- Six percent on the next $50,000
- Seven percent on the next $100,000
- Eight percent on the excess over $200,000
|
None |
Franchise |
$1.50 for each $1,000 or major fraction thereof up to $300,000 of capital employed in Louisiana, and $3 for each $1,000 or major fraction thereof in excess of $300,000 of capital employed in Louisiana, with a the minimum tax of $10 per year. |
None |
Personal Income |
2% - 6% with depreciation from $4,500 to $12,000, depending on filing status |
None |
Property |
None |
$ for each $100 of assessed value (city)
$7.70 for each $100 of assessed value (county)
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. |
Unemployment Insurance |
None |
0.10 - 6.20 of $7,000 wage base |
SOURCE: Ascension Parish Tax Assessor; Louisiana Department of Revenue; and Louisiana Department of Labor.
Local and State Taxes | Local Incentives | State Incentives | Top of page
Local Incentives
Ascension Parish and its municipalities can offer direct grants for infrastructure needs for projects creating significant job creation or capital investment.
Ascension Parish can also offer property tax abatements to companies on real estate improvements who utilize bond financing through the Ascension Industrial Bond Board through “Payment in Lieu of Taxes” or “PILOT” arrangements.
Local Workforce Investment Boards (WIBS) can also assist with providing funding and assistance with workforce training funding and placement of workers.
Local and State Taxes | Local Incentives | State Incentives
State 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
|
Community Development Block Grants |
Grants to expanding and new companies for infrastructure projects in areas affected by the 2005 hurricanes. |
|
|
STATE OF LOUISIANA |
|
Quality Jobs Program |
Annual refundable credit up to 6% of payroll for a period of up to 10 years. |
Industrial Property Tax Exemption |
Exempts new manufacturers & expansions from state, parish and local property taxes 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. The tax will be gradually phased out through 2010. |
Enterprise Zone |
Tax credits & rebates for hiring workers within a designated zone. |
Inventory Tax Credit |
100% state income tax credit on inventory taxes paid. |
Research & Development Tax Credit Program |
Sellable income/franchise tax credits up to 20% of R & D expenditures. |
Film and Video Production Tax Credit |
Sellable tax credits on a percentage of production costs, payroll, and infrastructure associated with motion picture production companies producing nationally distributed movies, videos, commercials, television series, etc. |
Local and State Taxes | Local Incentives | State Incentives
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