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​Business advocates slam Edwards’ tax plan

 

STEPHANIE RIEGEL
MARCH 30, 2017

 

Business groups are panning the tax plan unveiled by Gov. John Bel Edwards on Wednesday afternoon.

 
Though the governor says his new plan will bring the predictability and stability company CEOs so often say they want to see in the state’s tax code, business leaders say the new plan will only further harm the state’s competitiveness.

 

“We support a fair and flat treatment,” says Dawn Starns, state director of the National Federation of Independent Business. “We don’t see that in this.” 

 
The biggest source of Starns’ and others concern is the centerpiece of Edwards’ plan: A Corporate Activity Tax—effectively a sales tax—that would apply to any business with gross revenues of more than $1.5 million. The 0.35% tax would be designed to make up for the $880 million the state will lose by not renewing a fifth-penny of the state sales tax, which is another element of the governor’s plan.

 

 

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