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Sales tax rate, income tax rate, franchise tax changes

As a result of the third special session of the 2024 State Legislature, some tax reform has been signed into law by Gov. Landry. Those measures include:

• increasing sales tax rate to 5%
• cutting personal income tax rate to a flat 3% and increasing the standard deduction
• setting the corporate tax rate at 5.5%
• repealing the corporate franchise tax
• levying of sales tax on certain digital products and services including prewritten computer software access services, information services and digital products such as audiovisual works, audio works, books, codes, applications and games, periodicals and discussion forums -- with some exclusions for business and healthcare purposes
• levying of 5% sales tax on telecommunications services including cable television services, direct-to-home satellite services, video programming services and digital audio radio services

For more information on whether you should be charging sales tax on your business' services, contact the Terrebonne Sales and Use Tax Department at (985) 876-3734. To determine how these other measures affect you or your business, consider speaking with your tax professional.

Didn't file your beneficial ownership information?

The deadline for established companies to comply with the Corporate Transparency Act was Dec. 31, 2024, but a Texas judge has issued an injunction that suspends the filing requirement while the measure is in the courts.

Therefore, "companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force," according to the program's website. For further information, click here.

The filing of some beneficial ownership information by the Corporate Transparency Act was designed to increase the difficulty for "bad actors to hide or benefit from their ill-gotten gains through shell structures or... other ownership structures."

Nicholls State schedules spring career fairs

Looking for new employees? Nicholls State University has scheduled its Spring 2025 career fairs and seeks companies to participate in the following:

• The Nursing Career Fair -- 10 a.m.-1:30 p.m. Monday, Jan. 27.
• The Culinary Career Fair -- 10 a.m.-1:30 p.m. Wednesday, Feb. 26.
• The All Majors Career Fair -- 10 a.m.-1:30 p.m. Tuesday, March 25.

Register your business to participate in one by clicking here; once registered, payment information will be sent separately. For questions, contact katherine.mabile@nicholls.edu or call 985-448-4109.

OSHA finalizes rule on PPE proper fit requirements

The U.S. Department of Labor's Occupational Safety and Health Administration has revised the personal protective equipment standard for the construction industry, effective Jan. 1, 2025.

The finalized rule requires the equipment to properly fit any construction worker who needs it. Fit has been an issue for women in construction, as improperly sized clothing can be ineffective or create new hazards. This change aligns construction industry with the standard already in place for general industry and impacts such personal protective equipment such as hard hats, gloves, footwear and safety harnesses.

For more information, visit OSHA's web site by clicking here.

To start or grow a business, check out free training

The Louisiana Small Business Development Center offers free online training for startup and existing businesses on various topics, including:

• "Starting and Financing Your Small Business," set for 10:30 a.m.-12:30 p.m. Wednesday, Jan. 8. Register here.
• "Small Business 101" will be 10:30 a.m.-noon Friday, Jan. 10. Register here.
• "Business Planning for Entrepreneurs," set 10:30 a.m.-12:30 p.m. Wednesday, Jan. 22. Register here.

Find more training opportunities here.