Legislators working with LSU, Tulane profs on tax code overhaul

Legislative leaders are working with LSU Public Administration Institute Director Jim Richardson to assemble an independent panel of expert tax specialists to closely examine Louisiana’s tax structure. It has been more than 25 years since the last major analysis of the state’s tax make-up, and the proposed independent study will include evaluating all tax exemptions, deductions, credits and rebates.
“Ultimately, any tax structure represents what the people of the state find acceptable,” Richardson said. “However, the tax study will give our state officials and citizens information about the ingredients of a tax structure that is fair, competitive, stable, and simple. We are all looking forward to working on this project.”
Richardson will be joined by Tulane University Murphy Institute Director Steven Sheffrin and Tulane University Department of Economics Chairman James Alm. Louisiana House of Representatives Speaker Chuck Kleckly called for the study.
“A stable, easily understood and sufficient tax system is long over-due in the State of Louisiana,” Kleckley said. “Once we closely examine our current tax structure, we’ll know how to better compete for business, fund the needs of our citizens and fund the services that are consistent with growth and prosperity.”
Louisiana has been faced with a significant shift in the sources of state taxes during the last 20 years. Oil, gas and mineral taxes, which once equaled approximately 40 percent of Louisiana’s tax revenue, have shrunk to only 15 percent, while sales and income tax have grown to 60 percent of the tax revenue.
The Public Administration Institute at LSU’s E. J. Ourso College of Business offers a 42-hour degree program that emphasizes management and financial skills for those leading public agencies, nonprofit and healthcare organizations and for-profit organizations that interact with governmental agencies. PAI’s faculty members are student-oriented and nationally-recognized for their expertise in their fields. For more information, visit www.business.lsu.edu/pai or call 225-578-6743.