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The Metro New Orleans area, which includes St. Charles, is among the lowest in the nation in respect to overall business operating costs.  The region’s cost-of-living is less than other Southern metropolitan areas such as Atlanta, Nashville, Tampa and Miami.  Labor costs, on average, are considerably lower than most metropolitan areas of comparable size.  An office space lease cost in the New Orleans area is 16% below the national average and is among the lowest in the South.  The average industrial building lease price (on a net basis) is only 68% of the average for Southern metropolitan areas.  Labor and rental costs for operating a 200,000sf warehouse/distribution center are 12% lower than the national average.  Combining these low labor and real estate costs with below-national average costs for electricity and natural gas yields a significant advantage for profitable business investment.

COST OF BUSINESS
Sales Tax: State: 4 percent
Local: 5 percent

PROPERTY TAX
Property is assessed as follows: 
Land     10 percent of its "fair market value" or "use value"
Residential Improvements 10 percent of "fair market value"
Commercial Property (including personal property) 15 percent of "fair market value"
Commercial Land 10 percent of "fair market value"

LOCAL MILLAGE RATE (2013)
West Bank: 113.69
East Bank: 113.28

PERSONAL INCOME TAX

State:
Single, married filing separately, or head of household:
2 percent                First $12,500
4 percent                Next $37,500
6 percent                Over $50,000
Married, filing jointly or qualified surviving spouse:
2 percent                First $25,000
4 percent                Next $75,000
6 percent                Over $100,000

Local:
No personal income tax

CORPORATion INCOME TAX

State:
Corporations will pay tax on net income computed at the following rates:
4 percent                First $25,000
5 percent                Next $25,000
6 percent                Next $50,000
7 percent                Next $100,000
8 percent                Over $200,000

Local:
No corporation income tax 

corporation FRANCHISE TAX
State:
$1.50 for each $1,000 or major fraction thereof up to $300,000
$3.00 for each $1,000 or major fraction thereof in excess of $300,000
**The initial corporation franchise tax is $10.
Local: 
No corporation franchise tax 


TAX INCENTIVES

Industrial Tax Exemption - Manufacturers receive a property tax exemption for a five-year period, renewable for an additional five years.  Exemptible property includes buildings, machinery, equipment, furniture, and fixtures for a new expanded or renovated facility.  

Louisiana Quality Jobs - Eligible companies may receive a rebate of up to 6% of their payroll for ten years and a refund of state sales and use taxes on purchases of building construction materials, machinery, and equipment.

Enterprise Zone - Provides a one-time $2,500 tax credit for each net new permanent job created ($5,000 for aviation/aerospace industries).  In addition, companies receive refunds on state sales and use taxes on purchases of building construction materials, machinery, and equipment.

Digital Interactive Media and Software Development Incentive - Provides a 25% tax credit for qualified production expenditures and a 35% tax credit for resident labor expenditures.

Motion Picture Investor Tax Credit - A transferable tax credit of 30% for qualified motion picture production expenditures and an additional 5% tax credit for resident labor expenditures.

Research and Development Tax Credit - Provides a tax credit up to 40% to existing businesses with operating facilities in Louisiana to establish or continue research and development activities within the state. 

Technology Commercialization Tax Credit and Jobs Program - Provides a 40% refundable tax credit for companies that invest in the commercialization of Louisiana technology and a 6% payroll rebate for the creation of new, direct jobs. 

Modernization Tax Credit - Provides a 5% refundable state tax credit for manufacturers making capital investments to modernize or upgrade existing facilities in Louisiana. 

FINANCIAL INCENTIVES

Industrial Revenue Bonds - This program allows parishes, cities, port authorities, development boards, and the Louisiana Public Facilities Authority to issue up to $10 million in tax-exempt revenue bonds to finance construction and equipping new or expanding manufacturing facilities.

Revolving Loan Fund - Small businesses may receive a loan up to $250,000 at 4% interest.


For more information see the following websites:


For more information about available tax incentives contact us at:
St. Charles Parish Department of Economic Development and Tourism
P.O. Box 302
Hahnville, LA  70057

Phone: (985) 783-5140
Fax: (985) 783-5144
E-Mail: econdev@stcharlesgov.net

Last updated: 7/11/2014 3:26:59 PM