ExxonMobil: Tax break inconsistencies may affect investments
BATON ROUGE, La. (AP) — ExxonMobil says inconsistencies surrounding Louisiana’s Industrial Tax Exemption Program could deter future spending at Baton Rouge plants.
The Advocate reports ExxonMobil said Tuesday that it’s dropping its remaining city requests for the program, which offers industrial manufacturers a 10-year break from paying 80 percent of local taxes.
The move comes after the local school board rejected the company’s requests to be exempt from paying $2.9 million to local schools. The company says Baton Rouge treats companies inconsistently and local election officials are being misled by anti-business activist groups.
The state Board of Commerce and Industry used to approve local property tax exemptions without local input. In 2016, Gov. John Bel Edwards ordered that companies seeking the tax break get approval from local taxing districts such as school boards and municipalities.
A previous version of this report had an incorrect spelling of ExxonMobil.
Information from: The Advocate, http://theadvocate.com