09/2012 - Tax Break or Tax Broken: Louisiana’s Tax Exemptions

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Tax Break or Tax Broken: Louisiana’s Tax Exemptions
1. Louisiana offers numerous tax breaks to both individuals and corporations, many with the intention of encouraging economic development and creating jobs. How important do you think reducing taxes on businesses is to the economy?
2. And how important do you think providing tax incentives for companies to open or expand new facilities in Louisiana is to the economy?
3. State law does not require agencies that administer tax credits to track their return on investment. Lawmakers do receive periodic indicators of a tax credit’s performance from the Legislative Auditor. Which of the following best represents your opinion:
4. The state offers Film Tax Credits to attract movie makers to Louisiana. Since the expansion of the credit in 2002, an estimated 118 films were produced in the state up from only one film in 2002. But a recent economic analysis indicates that for every dollar of revenue the state received, the state paid out more than $7 in credits.
Which of the following best represents your opinion on the film tax credit:
5. Currently it takes a two-thirds vote of both houses in Louisiana’s legislature to repeal or reduce a tax credit while cuts to spending require a majority. Would you favor changing this?
6. Here is a list of things that state government might do to improve the economy within the state of Louisiana. Please check how important you think each item is to the overall state economy. Very important, somewhat important, slightly important, not at all important.

Investing in research and development:
7. What about the state sales tax, would you say that the state sales tax is too high and needs to be reduced, too low and needs to be increased, or just about right?
8. What about local property taxes, would you say local property taxes are too high and need to be reduced, too low and need to be increased, or just about right?
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