Louisiana Economic Development Incentives
On the state level, your business may qualify for one or more of the following Louisiana Department of Economic Development for business tax incentives and credits:
- Louisiana Early Stage Angel Investment incentives provided by HB 627 of the 2005 Regular Session -- Accredited Louisiana investors can receive a 50% tax credit divided into portions of 10% over five years on income or corporation franchise tax liability owed to the state for early-stage investments in Louisiana-based startups.
- The Louisiana Enterprise Zone Program provides tax credits and rebates, including a $2,500 tax credit for each new permanent job created during the first five years of operation and a rebate of the state's 4% sales/use tax on the materials, machinery, & equipment purchased during the construction period and used exclusively on site.
- Louisiana Entrepreneurial Services and Programs: Small emerging business development and incentives available through Louisiana Department of Economic Development.
- Louisiana Film and Television Tax Credit: Film production costs and budgets are eligible for state income tax credits as well as additional state credit for local hiring.
- Louisiana Headquarter Growth Program eliminates interest and dividends taxes for companies locating their headquarters in Louisiana and aligns with other states to apportion income from capital gains.
- Louisiana Quality Jobs Program rebates up to 6% of qualifying company's gross annual payroll associated with new jobs created by a project for up to 10 years, and may rebate the state's 4% sales/use tax on the materials, machinery, & equipment purchased during the construction period and used exclusively on site.
- Louisiana Industrial Property Tax Exemption Program abates local property taxes for 10 years on a manufacturer's investment in buildings, machinery, equipment, and other properties that are part of the manufacturing process and that remain on the plant site.
- Louisiana Industrial Tax Exemptions of 50% on property taxes on buildings, machinery and equipment for new manufacturing operations and expansions for a five year period with the potential for a five-year extension.
- Louisiana Research and Development Credit provides tax credits for R&D activities from 8 to 20% to companies claiming federal income tax credit for research activities. These companies will now be able to claim against state income and corporation franchise taxes up to 8% of the state's apportioned share of increased R&D expenses or 25% of its apportioned share of federal research credit claimed.
- Louisiana Veteran Initiative (LaVET) Program encourages state agencies and state awarded contractors to contract with certified veteran-owned and service-connected disabled small entrepreneurship.