BATON ROUGE, La. (AP) - The Latest on Gov. John Bel Edwards’ gross receipts tax (all times local):
3 p.m.
The House tax committee’s hearing on Gov. John Bel Edwards’ main business tax proposal will extend into a second day.
Business groups, other lobbying organizations and members of the general public will get their turn to talk about the gross receipts tax bill Tuesday in the Ways and Means Committee.
Lawmakers on the committee spent most of Monday asking questions of Edwards’ Revenue Secretary Kimberly Robinson and bill sponsor Rep. Sam Jones, a Franklin Democrat. Republicans weren’t friendly to the tax proposal, suggesting it could chase away business.
A gross receipts tax is a tax on business sales, without consideration of profit or expenses.
Edwards says the measure would make companies that use loopholes pay “their fair share” of taxes. The tax would raise an estimated $416 million a year.
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12:30 p.m.
Republican lawmakers on the House tax committee aren’t showing an interest in Gov. John Bel Edwards’ main business tax proposal.
The concept of a tax on business sales - a gross receipts tax - is getting its first legislative hearing Monday in the House Ways and Means Committee.
The tax would raise an estimated $416 million a year in new tax revenue, to help offset expiring sales taxes. But there’s little public support for the proposal, even from the Democratic governor’s allies.
In questioning, GOP lawmakers on the conservative, majority-Republican tax committee suggested Edwards’ proposal could chase away business. Shreveport Rep. Alan Seabaugh said he expects businesses would pass the tax to consumers.
Edwards frames the tax as aimed at getting companies that use various loopholes to pay “their fair share.”
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