Louisiana Revised Statutes 27:227 – Corporation exemptions; local regulation and taxation
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Terms Used In Louisiana Revised Statutes 27:227
- Corporation: means the Louisiana Economic Development and Gaming Corporation, which except as specifically provided in this Chapter shall be a special corporation operated for a public purpose, the ownership interest of which is vested in the state. See Louisiana Revised Statutes 27:205
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- License: means an authorization issued to a person by or in the name of the corporation to engage in or assist gaming operations or activities regulated by this Chapter. See Louisiana Revised Statutes 27:205
A. Corporation operations are exempt from and no political subdivision may enact any measure to require licensing, to regulate, to impose fees, or to tax corporation operations.
B. The corporation and its operations are exempt from taxation by the state, specifically including but not limited to state sales tax, income tax, corporation franchise tax, and occupational license taxes, if any.
C. Nothing in this Section shall be construed to exempt any corporation employee from taxation as otherwise provided by law.
Acts 1992, No. 384, §1, eff. June 18, 1992. Redesignated from La. Rev. Stat. 4:627 by Acts 1996, 1st Ex. Sess., No. 7, §3, eff. May 1, 1996.