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SMALL BUSINESS NEWS

29 Aug 2016

 

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Louisiana Exempts Minors From Occupational License Tases

Louisiana has enacted a new law that will exemp minors from occupational license taxes.

The new law requires that no license tax imposed, assessed, or collected on any minor engaging in business with sales of less than $500.00 per year.

This simple law which made out of the Senate in May 2016 will take effect 1 August 2016.

The annual Occupational License Taxes range from 0.0005 to 0.003 percentage of gross sales.

This is good new for young entrepreneurs who want to setup and run their own lemonade stand or sell cookies etc. to raise money.

Sources:
Louisiana Occupational License Tax Table
Act No. 198
S.B. 99 to enact R.S. 47:360(H)


By Wendy Stewart

 

 

 

 

 

 

 

 

 

 
 

 

  
 

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