Your membership in Louisiana REALTORS®, along with your voluntary investment in LARPAC has a tremendous value to you and your real estate profession.
The recent legislative session called by Governor Landry sought to simplify Louisiana’s tax code, broaden the tax base and lower the state personal and corporate income tax rates. Your Louisiana REALTORS® lobbying team was able to accomplish the following during this session:
Real Estate Related Session Highlights:
- Kept professional service sales taxes off REALTORS® and their commissions,
- Kept professional service taxes off any immovable property transactions (including maintenance, repair renovation, remodeling and home warranties),
- Louisiana REALTORS® was also able to keep the Prohibition on Real Estate Transfer taxes in the state’s constitution,
- Assisted in seeing the historic tax credit be included in acceptable tax exemptions ($85 million per year)
Other Special Session Highlights:
- Lowers the state income tax rate to a flat 3% for all filers,
- Provides a $12,500 standard deduction for single state income tax filers,
- Provides a $25,000 standard deduction for joint filers,
- Lowers the corporate state tax rate from 7.5% to 5.5%,
- Extended for five years a 5% state sales tax,
- Film Tax Credits also retained in the tax exemptions that are allowable,
- Provides a permanent pay raise to teachers
We want to thank our LR officers, Board of Directors and LR lobbying team for being engaged in the legislative process.
Contributions are used for political purposes, are voluntary, & are not deductible for Federal income tax purposes. Any amounts indicated are merely guidelines & you may contribute more or less than the suggested amounts. Neither your membership nor your participation in Louisiana REALTORS® is conditioned directly or indirectly on contributing to LARPAC. You may refuse to contribute without reprisal. The following is sent to the National REALTORS® Political Action Committee (RPAC) to support federal candidates and is charged against your limits under 52 U.S. C. 30116: (1) 30% of all contributions of $1,000 or more made at any time; & (2) 30% of each contribution less than $1,000 until LARPAC meets its Federal Allocation Goal set by RPAC. LARPAC retains the following to support state and local issues & candidates: (1) 70% of contributions that are $1,000 or more; & (2) 100% of contributions of less than $1,000 after the RPAC Federal Allocation Goal is met.