Turn out statewide was light but the relative handful who did vote Saturday decided to launch a historic change in the way Louisiana levies and collects taxes.
Turnout was only about 14% of the state’s 3 million registered voters and the majority approved wording changes in the Louisiana Constitution that eventually will reduce how much individuals and corporations pay in income tax and drop a deduction that had saved taxpayers thousands.
Four amendments were on the ballots in all 64 parishes and three were refused by the voters.
Amendment 2 was approved by 54% of voters. The amendment will remove the federal income tax deduction from the constitution, which allows the Legislature to decide the future of the $795.5 million write-off, and will lower the highest individual income tax rate from 6% to 4.75%. But a law dependent on the outcome of this election lowers the maximum rate to 4.25% – a reduction of revenue offset by the elimination of the federal deduction. When the dust settles, about 93% of the state’s taxpayers would pay less.
