Democratic Gov. John Bel Edwards signed S.B. 72, which will offer a refundable credit equal to qualifying annual licenses or fees attributable to calendar months where qualifying businesses were ordered to close by executive order amid the pandemic. The credit will apply to income taxable periods beginning on Jan. 1, 2020 through Dec. 31, and is available for licenses or fees paid to the state Office of Alcohol and Tobacco Control.
For restaurants and bars that are not taxed as a corporation, the company's corporate and individual partners or members can claim their share of their credit on their tax returns.
The state Legislature gave the bill final approval Oct. 21. Sen. Kirk Talbot, R-River Ridge, introduced the bill on Oct. 7.
--Editing by Neil Cohen.
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