LOUISIANA BROWNFIELDS TAX CREDITS
Wednesday, October 24th, 2007January 1, 2008, the Louisiana Brownfields Investor Tax Credit amendments, La. R.S. 47:6021, became effective. The amendments provide Louisiana Income Tax Credits for Brownfields environmental site investigation costs (15%) and contamination cleanup costs (50%), completed and certified through the Louisiana Department of Environmental Quality’s Voluntary Remediation Program. The credits are transferable to any Louisiana taxpayer who is a non-responsible party in the remediation effort. TEA can help you identify potential projects or assist you with application of the credit to an existing project.
For further information, contact Sidney Marlborough at 225-767-3880 or smarlborough@teainconline.com.
