Comments for Jindal seeking to expand sales tax to more items at http://www.theind.com , comment 1 to 3 out of 3 comments http://www.theind.com Sat, 25 May 2013 07:13:46 +0100 FeedCreator 1.7.3 http://www.theind.com/news/indreporter/12827-jindal-seeking-to-expand-sales-tax-to-more-items#comment-27672 “The biggest breaks — $1 billion in exemptions on food for home consumption, residential utilities, prescription drugs and fuel — won't be touched under the governor's tax package, Barfield said”. “But the state has hundreds of millions of dollars in other, smaller tax breaks that could be proposed for elimination.” If as indicated the above mentioned sales tax exemptions(STE'S) will not be touched, and, assuming, 100% of the remaining STE'S were repealed(which one can rest assure 100% want be repealed) the resulting revenue of $966 million produced will fall short of replacing revenue generated by income tax sources by over $1.70 billion.The Louisiana Dept of Revenue Report for 2011 entitled PRIMER ON STATE TAX STRUCTURE IN LOUISIANA , appendix D, reports total STE's for 2011 totaled 2.50 billion dollars. The STE's exempted from repeal by Barfield total $1.550 billion (food for home consumption($334 million), residential utilities($146 million), prescription drugs($239 million), fuel($371 million). Plus, I've taken the “liberty” to include in this $1.550 billion STE exemptions on state and local governmental purchases($203 million)-governmental bodies paying sales taxes is revenue redundancy, and on nonresidential purchases of electricity, business useage, ($257 million), non-residential purchasers of electricity(businesses) certainly want be required to pay sales taxes under a Jindal administration. The revenue “generated” by repeal of the remaining STE's would amount to $966 million assuming all 185 remaining STE's were repealed(a highly unlikely scenario). Total revenue generated by the state's income tax structure for 2011 amounted to $2.651 billion. With only $966 million available from repeal of all outstanding STE's, the state would suffer a revenue deficit of over $1.685 billion. Even if all current STE's in effect, all 191 exemptions, were repealed the resulting revenue of $2.50 billion would still fall short of replacing 2011 state income tax revenue levels by over $150 million dollars. - Greg Foreman Tue, 12 Feb 2013 13:31:09 +0100 http://www.theind.com/news/indreporter/12827-jindal-seeking-to-expand-sales-tax-to-more-items#comment-27669 “Of the existing 468 tax exemptions in Louisiana, just 25 exemptions represented nearly 80 percent of the $6.8 billion total in FY11”. (Primer on State Tax Structure in Louisiana, PG 11, Louisiana Economic Development). That should narrow “Bobby-ty's” work down. It isn't necessary for Jindal, the Jindalnista's, or the Dept of Revenue to study each and every tax exemption allowed. It is necessary to study and review those exemptions "costing" the state the bulk of lost revenue. Ok Bobby, send me the check your department of revenue plans on writing to Ernst & Young...I just did their job. - Greg Foreman Sun, 10 Feb 2013 10:47:03 +0100 http://www.theind.com/news/indreporter/12827-jindal-seeking-to-expand-sales-tax-to-more-items#comment-27664 He wants to expand the sales tax so he can keep the deductions in place for the politically connected! Also how can this state put up with a fast talking little man who refuses to be interviewed? - Michael A. Moss Thu, 07 Feb 2013 09:53:07 +0100