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The state of Louisiana and Caldwell Parish offer a variety of tax incentives for businesses and residents alike. Caldwell Parish property taxes are among the lowest in the state. Business owners can take advantage of tax credits for enterprise zones, renewable energy investments, and job creation.
Local businesses in Caldwell Parish, Louisiana have access to a variety of local tax incentives that can bring their business's bottom line much closer to home. Certain local taxes are eligible for exemptions or deductions, and local businesses can even obtain credits for fulfilling local job standards or helping better their local community. Depending on specific local eligibility, these incentives may help local companies reduce operating costs and increase local economic activity with the long-term aim of improving the local economy.
View state and local tax resources:
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STATE AND LOCAL TAXES
View the breakdown of Louisiana state taxes and Caldwell Parish taxes.
State:
• 4.45%
Local:
• 5%
With the local tax applied to the state tax, the minimum sales tax rate in Caldwell Parish is 9.45% (not including any city or special district taxes)
With the passage of Constitutional Amendment #2, the provisions of Act 396 of the 2021 Regular Session of the Louisiana Legislature became effective. Effective for income tax periods beginning on or after January 1, 2022, Act 396 repealed the federal income tax deduction in exchange for reduced tax rates. The new tax rates are:
• 3.5% on the first $50,000 of net income
• 5.5% on the next $100,000 of net income
• 7.5% on the excess over $150,000.
Some provisions of Act 389 of the 2021 Regular Session of the Louisiana Legislature became effective. Effective for franchise tax periods beginning on or after January 1, 2023, Act 389 reduced the tax rate to a single rate of $2.75 for each $1,000, or major fraction thereof in excess of $300,000 of capital employed in Louisiana. The Act also continued the suspension of the lower tier of the tax ($1.50) through corporation franchise tax periods ending on or before November 30, 2023.
The tax is determined using tax tables furnished by the Louisiana Department of Revenue. The tax rate is applied in a graduated scale using the taxpayer's filing status and the taxpayer's Louisiana taxable income. Recent changes to the tax rate (effective January 1, 2022) are reflected as follows:
Single, married filing separately, or head of household:
• First $12,500 - 1.85%
• Next $37,500 - 3.50%
• Over $50,000 - 4.25%
Married filing jointly or married surviving spouse:
• First $25,000 - 1.85%
• Next $75,500 - 3.50%
• Over $100,000 - 4.25%
Property Tax
In Louisiana, the classification of property subject to ad valorem taxation and the percentage of fair market value applicable to each classification, for the purpose of determining assessed value, are as follows:
• Land - 10%
• Improvements for Residential - 10%
• Improvements for Commercial - 15%
• Business Movable Property (Personal) - 15%
• Public Service (Excluding Land) - 25%
Bona fide agricultural, horticultural, marsh and timberlands, as defined by Revenue Statues, shall be assessed for tax purposes at 10% of use value rather than market value. The Louisiana Tax Commission sets these values.
Inventory Tax
Same as Property Tax, though a tax credit is automatically available to those that apply.
Local:
• Quarterly charges are the sum of a company’s percentage of the unemployment insurance benefits paid to former employees by the Louisiana Workforce Commission.
SMALL BUSINESS INCENTIVES
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Loan guarantee program: provides up to 75% guarantee and state participations up to 40% for banks that facilitate capital accessibility.
Loan guarantee program: provides up to 80%guarantee and state participations up to 50% for banks that fund loans from $5,000 to $50,000.
Loan guarantee program: provides participations with banks that fund government contract loans from $5,000 to $1 million for terms of one year or less.
Bonding assistance: provides up to 25% guarantee for companies bidding on private or public jobs.
Tax credit program: provides credit up to 50% for individual investors when they invest in certain early stages of wealth-creating businesses.
Tax credit program: provides up to $50,000 per year for participating firms that provide technical assistance to protégé firm.
LOCAL INCENTIVES
Local Property Tax Abatement (Ad Valorem) Property tax abatements are available for qualifying projects for a 10-year maximum period including school millage. Generally, the project is titled in the public body and leased to the private user with an option to purchase for a nominal sum at the end of the lease term.
Special Federal Incentives
Grants to expanding and new companies for infrastructure projects in the state that qualify based on hired employees’ income level and place of residence.
State of Louisiana Incentives
Annual refundable credit up to 6% of payroll for a period of up to 10 years.
Provides credit for up to 25% of production or infrastructure development.
Provides company-customized pre-employment and on-the-job training and recruitment for existing and new employees.
Exempts new manufacturers & expansions from state, parish and local property taxes for up to 10 years.
Property tax abatement for properties in approved districts, provides five-year abatement for the rehabilitation of an existing structure with possible 5 year extension.
Louisiana businesses receive an exemption of the 4 percent state sales, use, lease and rental tax on eligible machinery & equipment purchased in the state including customized software developed in the state.
Tax credits & rebates for hiring workers within a designated zone. $2,500 credit per new job, and 4% rebate of sales/use tax on materials, machinery or equipment.
100% state income tax credit on inventory taxes paid.
Sellable income/franchise tax credits up to 20% of R & D expenditures claim on federal taxes.
Provides credit for up to 8% of the state’s apportioned share of increased R&D expenses or 25% of its apportioned share of federal research.
Provides credit for up to 20% of qualified production expenditures.
Federal program available in approved census tracts which allows investment to reduce taxes on capital gains. Properties in opportunity zones may also quality for restoration tax abatements.
Learn more about what's happening in Caldwell Parish!
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