Election season is finally here after being pushed back due to Hurricane Ida, and Louisianans are voting for four new constitutional amendments.
The four new amendments that are being voted on statewide could make significant changes to Louisiana’s income tax rates and deductions.
Early Voting began on Oct. 30, and Dr. Steven Procipio, Policy Director of the Public Affairs Research Council of Louisiana, helped break down what each amendment means for Louisiana.
Amendment One, the Sales Tax Streamlining, would give authorization to handling and collecting sales tax and disbursing the proceeds to the proper jurisdictions.
“This constitutional amendment will set up a commission that would eventually take over and have a consolidated sales tax collection,” Procipio said.
If passed, the new commission would replace the Louisiana Sales and Use Tax commission, and agency funding would be provided by a portion of the state and local sales and use tax revenues.
The second amendment would start a series of changes that would affect individual income tax. A vote for the tax reform amendment would lower the maximum rate of income tax and allow the removal of a major state tax deduction.
“Most people probably about 80%, if not more will get a tax break depending on what you do with your deductions you may be paying more” Procipio said.
While Amendments one and two dealt more with tax reforms statewide, Amendment three involves the five levee districts affected but still has to be passed statewide.
This amendment would allow the five levee districts who were affected by previous reforms to receive a 5-mill property tax.
The last amendment being voted on would increase the amount of money that can be taken from protected funds and balance the budget.
“We can essentially go into protected funds and take out up to 5% from those funds, when both the legislature and the governor agree, and use it to help balance the budget. This amendment would move that from 5% to 10%," Procipio said.
To find more information on the new amendments, you can visit the Public Affair Research of Louisiana website at PARLouisiana.org
Early Voting ends Nov. 6 and Election Day is on Nov. 13. To find all information about where you can vote, visit sos.la.gov .