Incentives and Taxes

State and local programs available to new or expanding businesses in Lafayette Parish


Doing Business in Lafayette, LA

Business Incentives

Lafayette, LA has a business-friendly environment, where leaders work together to ensure the success and prosperity of our community and our business base. There are several resources available in Louisiana that can give businesses that operate here an advantage.
Louisiana offers competitive tax incentives to businesses who are creating jobs and driving innovation.

Programs for Small Businesses

State and Local Taxes

Corporate Franchise Tax

  • This state tax is levied annually at the rate of $1.50 per $1,000 on the first $300,000 of capital stock, surplus, undivided profits and borrowed capital employed in Louisiana.
  • The rate is $3.00 per $1,000 after the first $300,000.
  • The minimum tax is $10.00 per year; a waiver of the corporate franchise tax is allowed under certain incentive programs.

Corporate Income Tax

  • Tax ranges from 4% to 8% of the net taxable income.
  • The effective rate of taxation is somewhat less because federal income taxes are deductible in computing net taxable income.

Property Tax

  • No state property tax in Louisiana.
  • 2021 Lafayette City and Parish property tax millage is 104.63 mills.
  • For property outside of the city limits of Lafayette, the total millage is 86.69.
  • Several types of exemptions are available in Lafayette Parish. If you own property that you reside in, you may apply for homestead exemption which reduces the taxable value of your home by $75,000, resulting in substantial savings on your property taxes.

Sales Tax

  • Sales tax is levied on the retail sale of personal property, goods used or stored for use in Louisiana and on leases and rentals of tangible personal property and certain services.
  • For the full list of tax rates by municipality and special districts, visit the Louisiana Association of Tax Administrators

Which programs might be right for your business?

Image for Mark Mouton

Mark Mouton

Director of Business Retention & Expansion
(337) 593-1409