La. Bill Would Exempt Virus Relief From Income Tax

Louisiana would exempt federal and state aid granted as a response to the coronavirus pandemic from individual and corporate income tax, under a bill introduced in the state Senate.

S.B. 11, which Sen. Kirk Talbot, R-River Ridge, introduced Monday, would exempt any coronavirus-related grants, loans, rebates, tax credits, advance refunds or qualified disaster relief benefits granted to corporations directly or indirectly on a state or federal level from state corporate income tax if the benefit was included in the corporation's federal gross income.

The bill would also exempt individual state and local virus relief benefits from individual income tax if the benefits were included in the taxpayer's federal gross income.

If enacted, the bill would apply to past virus benefits and take retroactive effect.

--Editing by Robert Rudinger.

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