BATON ROUGE, La. - Gov. Mike Foster has proposed his new tax plan with provision to broaden the state's existing corporate tax base, including taxing credit unions that do business in the state. The plan also includes a repeal of all state sales tax on groceries and utility bills, and a repeal of corporate income and franchise taxes. The new taxe would generate an estimated $1.5 billion annually. Among the items of added value it would be levied on are employee wages and benefits, profits, dividends, depreciation, and in some cases, rent. -
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