Louisiana Revised Statutes 47:315.4 – Sales and use tax credit; waiver of homestead exemption
Terms Used In Louisiana Revised Statutes 47:315.4
- Collector: shall mean and include (a) the secretary of the Department of Revenue for the state of Louisiana and includes his duly authorized assistants, when used in reference to a sales and use tax levied by the state, or (b) the individual or entity designated as collector of the appropriate single sales and use tax collection office, and his duly authorized assistants, of any political subdivision authorized under the constitution and laws of the state of Louisiana to levy and collect a sales and use tax, except a statewide political subdivision, when used in reference to a sales and use tax levied by such political subdivision. See Louisiana Revised Statutes 47:301
- sales tax: shall mean the sales and use tax imposed by the state pursuant to the provisions of this Chapter and Chapter 2-A and 2-B of this Subtitle and the tax imposed by political subdivisions under the constitution or laws of this state authorizing the imposition of a sales and use tax. See Louisiana Revised Statutes 47:301
- Taxing authority: shall mean and include both the state and a statewide political subdivision and any political subdivision of the state authorized under the Constitution or laws of the state of Louisiana to levy and collect a sales and use tax, unless the context indicates otherwise. See Louisiana Revised Statutes 47:301
- use: include the donation of food items to a food bank as defined in Louisiana Revised Statutes 47:301
A taxpayer shall be entitled to a credit for the amount of ad valorem taxes paid on property to which the taxpayer is entitled to a homestead exemption but elects to waive that exemption as provided in La. Rev. Stat. 47:1711. This credit shall be applicable to local sales and use taxes collected by the single tax collector for the parish in which the taxpayer filed the waiver required by La. Rev. Stat. 47:1711(B). The amount of the credit shall be equal to the lesser of the total amount of local sales and use taxes paid by the taxpayer or the total amount of ad valorem taxes that are paid as a result of the waiver of the taxpayer’s homestead exemption. The single tax collector shall allocate the credit to each taxing authority in the parish in a proportion equal to the percentage of the total sales tax collections for each taxing authority for the previous calendar year compared to the total sales tax collections for the parish as a whole for the previous calendar year. However, no credit shall be allocated to any taxing authority which does not levy ad valorem taxes subject to the homestead exemption.
Acts 1999, No. 1266, §1, eff. July 12, 1999.