Below are some of the tax law changes the state of Louisiana has made for tax year 2024:
Refundable Priority 2 Credits
School Readiness Child Care Directors and Staff - Eligible child care directors and child care staff may qualify for this credit. The amount of the credit is adjusted each year if there is an increase in the Consumer Price Index Urban (CPI-U). The credit amount for 2024 can be found here.
Restaurant Recycling of Oyster Shell - Allows a credit for restaurants that donate oyster shells for use in benefitting the environment. The credit is equal to $1 per 50 pounds of oyster shell material donated or $2,000 per restaurant. The amount of credits granted by the Department of Revenue is capped at $100,000 per calendar year.
Nonrefundable Priority 3 Credits
School Readiness and Child Care Credit Carried Forward From 2019 through 2023 - These credits for taxpayers whose federal AGI exceeds $25,000 cannot be refunded. However, any unused amounts from the credit can be used over the next 5 years.
Previously Unemployed - This credit is no longer available beginning tax year 2024.
New Markets - This credit is no longer available beginning tax year 2024.
Additional Information
For more information regarding the 2024 tax law changes, please click here.