Certified Public Accountants say the GOP tax plan will make changes for Louisiana residents and their pocketbooks.
Among the changes, the plan eliminates the ability to deduct state income tax, which is between two and six percent in Louisiana. Brandon Legarde with the Society of Louisiana CPA’s says that one change impacts everyone.
One of the reasons the GOP is happy with tax reform is the change afforded to businesses in trying to urge corporations to come back to the U.S. Legarde says his office is still trying to determine how all the tax breaks will benefit businesses and if they will be able to get around some of the new laws.
Legarde says even with the promise of being able to file your taxes on a postcard, the simplicity of the tax code remains to be seen, keeping accountants on their toes.