POPULATION: 4,625,470 (2013 estimate, US Census)
LABOR FORCE: 2,146,613 (Sep. 2014 seasonally adjusted, BLS)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES:Oil and gas, petrochemicals, agriculture, timber, processed
foods
EXPANDING INDUSTRIES: Advanced manufacturing, agribusiness, clean tech, digital media and software, energy, entertainment, specialty healthcare, water management
COLLEGE GRADUATES: (Age 25 and over) 22.5% (2013 estimate, US Census)
BASIC BUSINESS TAXES:
Corporate Income Tax:4 percent on first $25,000; 5 percent on second $25,000; 6 percent on next $50,000; 7 percent on next $100,000; 8 percent over $200,000 based on net income of domestic and foreign corporations derived from Louisiana sources; federal income taxes are deductible in computing Louisiana net taxable income; state tax credits allowable under certain incentive programs can be used to offset all or part of corporate income taxes.
Corporate Franchise Tax: $1.50 per $1,000 on first $300,000 of issued and outstanding capital stock, surplus, and undivided profits; $3.00 per $1,000 above $300,000; state tax credits allowable under certain incentive programs can be used to offset all or part of corporate franchise taxes.
Sales and Use Tax: 4 percent levied on sale of tangible personal property at retail, as well as the use, consumption, distribution, or storage of tangible personal property and the sale of certain services in the state; 0 to 7 percent local rate; several exemptions provided for sales tax; electricity, water, natural gas, machinery and equipment used by manufacturers are exempt from Louisiana sales tax.
Property Tax: Statewide average effective rate; 1 percent of land FMV and 1.5 percent of businesses' capital assets FMV; levied by cities and parishes (Louisiana offers an ad valorem tax, 10-year, 100 percent abatement for qualified new capital investments.)
BUSINESS INCENTIVES:
Enterprise zones
Quality Jobs Program
Restoration tax abatement
Industrial tax exemption
R&D Tax Credit
Sound Recording Investor Tax Credit
Digital Interactive Media and Software Development Tax Credit
Motion Picture Investor Tax Credit
Musical & Theatrical Production Tax Incentive
LED FastStart™
Modernization Tax Credit
Technology Commercialization Credit and Jobs Program
New Markets Tax Credit
Small Business Loan Program
Micro Loan Program
Angel Investor Tax Credit
Veteran Initiative
Competitive Projects Payroll Incentive
Corporate Headquarters Relocation Program
Source: U.S Bureau of Economic Analysis, based on percentage of total manufacturing in 2012 state real GDP
