Act No. 410
The Louisiana Quality Jobs Program provides a cash rebate to certain businesses that create well-paid jobs and promote economic development. This program provides a 5% or 6% cash rebate of annual gross payroll for new, direct jobs for up to 10 years. It also allows for a 4% sales/use tax rebate on capital expenditures or a 1.5% investment tax credit for qualified expenses. Act No. 410 has extended the deadline for submitting applications to receive incentive tax credits or rebates under the Louisiana Quality Jobs Program from January 1, 2012 to January 1, 2018. An employer that, prior to January 1, 2018, has been approved by the Louisiana Department of Economic Development to receive incentive tax credits or rebates under the program will continue to receive the same pursuant to the terms of its agreement with the state of Louisiana as long as the employer retains its eligibility.
For more information on the Louisiana Quality Jobs program, including eligibility requirements, click here.
Act No. 353
Also related to the Louisiana Quality Jobs Program, Act No. 353, which became effective on June 29, 2011, clarifies and specifies that the value of health care benefits offered to employees is to be included in the consideration of the value of a new direct job, provided that at least 50% of the employees holding new direct jobs accept the health care insurance benefits offered. With regard to the calculation of incentive rebates under this program, Act No. 353 sets forth that in no instance will a rebate be determined by multiplying the value of the health care benefits by the benefit rate, as defined in La. R.S. 51:2453(3).