“Louisiana Made” Products mean jobs for the people of Acadia and Lafayette parishes. Richland and Rapides parishes, too. And Plaquemines and Caddo residents, and everyone in between.
Louisiana-manufactured products, from Tabasco, fire trucks and oilfield equipment to value-added seafood products and sugar and rice mean jobs for Louisiana workers. We need to ask our political leaders how they stand on the following tax break for small businesses in Louisiana and the other 49 states that are competing with low-wage Third World labor, a stagnant economy and cash flow difficulties.
For the tax years of 2008 and ’09, Section 179 of the Federal Tax Code allowed small businesses to write off or depreciate completely in one year up to $250,000 for the cost of machinery and equipment.
In 2010 and 2011, Section 179 of the Tax Code reduces the amount that a small business is allowed to write-off or depreciate to $134,000 for machinery and equipment. In the 2012 tax year, the tax write-off drops to only $25,000 per year.
Currently in Louisiana, small businesses produce approximately 80 percent of all new jobs. Renewing and expanding this common sense tax break for our local businesses will lead to more jobs and expand our economy. Our political leaders need to support reinstating the one year write-off back to $250,000 per year to encourage small businesses to upgrade and thus improve the productivity of their workforces and make their businesses more competitive.
The second part of the question to our political leaders: Will they support allowing a larger tax write-off for small businesses that purchased American-made machinery or equipment? Yes, I’m talking about a good ole preference for Louisiana- and American-made products.
Anthony Emmons is a candidate for State Representative in District 42, covering Acadia and Lafayette Parishes.