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Current as of January 01, 2023 | Updated by FindLaw Staff
A. The legislature finds that Louisiana, with its many attractions, has an extraordinary opportunity to generate additional revenue in the form of international tourism. Foreign visitors to the United States represent a more lucrative market than domestic travelers because they use tourism services to a much greater degree than their domestic counterparts. Many foreign countries have a value added tax refund system for purchases of tangible personal property by foreign visitors which has proved successful, when appropriately advertised, in increasing tourism in those countries. A similar sales tax refund program, the Louisiana Tax Free Shopping (LTFS) Program, which is applicable to retail shopping by international visitors, has become an effective promotional tool to increase Louisiana's share of the United States' growing foreign tourism market. While the LTFS Program had an initial opportunity cost to state and local governments equal to the amount of sales tax refunded, this loss was offset by additional revenues generated from an increase in foreign tourists, who continue to pay tax on expenditures such as hotels, restaurants, entertainment, rental cars, riverboat rides, and other attractions. An Annual Economic Impact Estimate Report prepared by the research director of the New Orleans Region Economic Development Council quantifies this benefit.
B. Therefore, it is the intention of the legislature to authorize the state and its political subdivisions to voluntarily continue in a cooperative endeavor to establish a sales tax refund program for the purchases of tangible personal property by international travelers in which the traveler, the participating retailer, and the refunding agency have clear and simple roles in the refund process with adequate internal accounting controls in place.
C. The sales tax refund program shall be known as the “Louisiana Tax Free Shopping Program” or “LTFS Program”.
D. Notwithstanding any provision of law to the contrary, the provisions of this Chapter shall be effective through July 1, 2023.
Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 51, § 1301. Purpose; termination - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-51-sect-1301/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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