Louisiana Revised Statutes Tit. 47, § 601.1. Suspension of the corporate franchise tax applicable to small business corporations

A. (1) Notwithstanding any provision of law to the contrary, the state corporation franchise tax levied on corporations at the rate of one dollar and fifty cents for each one thousand dollars, or major fraction thereof, on the first three hundred thousand dollars of taxable capital pursuant to the provisions of R.S. 47:601(A) shall not apply to small business corporations for franchise taxable periods beginning between July 1, 2020, and July 1, 2023.

(2) Notwithstanding any provision of law to the contrary, the initial tax levied on corporations or other entities for the first accounting period in which the entity becomes subject to the corporation franchise tax pursuant to the provisions of R.S. 47:611(A) shall not apply to small business corporations for franchise taxable periods beginning between July 1, 2020, and June 30, 2021.