Louisiana Governor Calls for Second Special Session
Louisiana Governor John Bel Edwards has released his Call for the Second Special Session in 2016. The special session will begin at 6:30 p.m. on June 6, 2016, which is 30 minutes after the regular session ends. The special session will end on June 23, 2016.
The Call contains numerous items to address certain “unintended consequences” from the First Special Session, including taxation of isolated and occasional sales. Additionally, however, it includes the following major items:
Deductibility of excess federal itemized personal deductions in computing state income taxes;
Rates and brackets for state income tax;
Interest paid on refunds of tax overpayments;
Tax credits eligible to be refunded from current collections of the tax; and
Sales of items of tangible personal property for further processing.
The last item, perhaps, is the interesting as it is the result of the Louisiana Supreme Court’s decision in Bridges v. Nelson Industrial Steam Co.