State incentive programs for new businesses

On Behalf of Dunlap Fiore, LLC |

Starting a business in Louisiana may come with valuable incentives. Louisiana Economic Development offers several programs for new companies in the state, creating an attractive economic landscape for businesses of all sizes.

Entrepreneurs considering Louisiana as a home base can review these details about several LED incentives for new endeavors.

Angel investor credit

Accredited angel investors can receive a 25% tax credit for investing in qualifying Louisiana Entrepreneurial Businesses. Companies that open in the state and obtain LEB status can use this credit to attract capital of up to $3.6 million. The credit increases to 35% for businesses located in a state Opportunity Zone.

Enterprise zone incentive

Companies that create new jobs in Louisiana may qualify for either a $1,000 or $3,500 tax credit per position. This incentive also provides either a 1.5% tax credit or a one-time sales-tax rebate for costs associated with hiring new workers. The maximum total rebate is $100,000 per new job created for a Louisiana resident.

Digital interactive media and software credit

With this program, businesses involved in software development, digital media and related areas can qualify for a tax credit of 18% of production costs and 25% for payroll spent on Louisiana workers. This credit has no minimum requirement and can apply directly to state tax liability, with a refund for overpayment.

Other benefits of starting a new business in Louisiana include complimentary access to the LED FastStart worker training program, tax credits for live performance productions, federal tax incentives for businesses in designated opportunity zones, and tax credits for creation of entertainment jobs, research and development endeavors, and historic restoration projects.