Welcome


Law should be interactive.

Rabbit Crowd Library is an experiment in enabling people to interact with the law directly without bias.

Give law accountability. Use - , and to comment and respond to text you agree and disagree with.

0
0
0
Rs 47:6012 Employer Tax Credits For Donations Of Materials, Equipment, Advisors, Or Instructors

§6012. Employer tax credits for donations of materials, equipment, advisors, or instructors

A. The intent of this Section is to provide an incentive for employers within the state

to donate materials, equipment, or instructors to public training providers, secondary and

postsecondary vocational-technical schools, apprenticeship program registered with the

Louisiana Workforce Commission, or community colleges to assist in the development of

training programs designed to meet industry needs.

B. There shall be a credit against any Louisiana income or corporation franchise tax

for the donation of the latest technology available in materials, equipment, or instructors

made to public training providers, secondary and postsecondary vocational-technical schools,

apprenticeship program registered with the Louisiana Workforce Commission, or community

colleges within the state. The credit shall be an amount equal to thirty-six one hundredths

of the value of the donated materials, equipment, or services rendered by the instructor. Any

such credit shall be taken as a credit against the applicable tax or taxes in the taxable period

in which the donation was made. This tax credit, when combined with all other applicable

tax credits, shall not exceed twenty percent of the employer's tax liability for any taxable

year.

C. The Department of Revenue in consultation with the Louisiana Workforce

Commission shall promulgate such rules and regulations as may be necessary to facilitate

implementation of this Section in accordance with the Administrative Procedure Act. Such

rules and regulations shall include provisions regarding the definition of qualified donations

and employers, the criteria for determining eligible public training providers, secondary and

postsecondary vocational-technical schools, apprenticeship program registered with the

Louisiana Workforce Commission, and community colleges, and the maximum allowable

tax credit. The House Committee on Ways and Means, the Senate Committee on Revenue

and Fiscal Affairs, the House Committee on Labor and Industrial Relations, and the Senate

Committee on Labor and Industrial Relations shall have joint legislative oversight over the

promulgation of said rules and regulations. Such rules and regulations shall be promulgated

no later than January 1, 1999.

D. The provisions of this Section shall be effective for donations made after July 1,

1998.

E. The tax credit granted by the provisions of this Section shall terminate on January

1, 2001, unless reestablished prior thereto.

F. Commencing no later than January 31, 2016, the House Committee on Ways and

Means and the Senate Committee on Revenue and Fiscal Affairs shall review the credit

authorized pursuant to the provisions of this Section to determine if the economic benefit

provided by such credit outweighs the loss of revenue realized by the state as a result of

awarding such credit. The House and Senate committees shall make a specific

recommendation no later than March 1, 2017, to either continue the credit or to terminate the

credit.

Acts 1998, No. 30, §1, eff. June 24, 1998 ; Acts 2002, No. 11, §1, eff. for all taxable

periods beginning after Dec. 31, 2002; Acts 2008, No. 743, §7, eff. July 1, 2008; Acts 2015,

No. 125, §2, eff. July 1, 2015; Acts 2015, No. 357, §1, eff. June 29, 2015; Acts 2016, 1st Ex.

Sess., No. 29, §2; Acts 2017, No. 400, §§1, 4, eff. June 26, 2017.

Share this law:
Facebook Twitter LinkedIn Pinterest Reddit
Local Government
Louisiana
3
8
0
John Bel Edwards
John Bel Edwards
January 11, 2016 -
Democratic
1-225-342-4404
900 North 3rd Street, Baton Rouge, LA, 70802

Keywords
credit
committee
tax
donation
revenue
senate
regulations
house
rules
materials