Owners of businesses in Louisiana considering a sale or divestiture of their ownership interests or substantially all of the assets of a business entity domiciled in this state should be advised that during the 2024 Third Extraordinary Session the legislature repealed the net capital gains deduction in its entirety.
Read the full post on the
In keeping with the Governor’s call for the Legislature’s 2024 Third Extraordinary Session, House Bill No. 25 was introduced on Monday seeking to adjust severance tax rates, eliminate exemptions, and modify administrative procedures and dedications of mineral revenues.
HB 25 initially proposed that severance tax on oil should be determined based on volume at a
The Louisiana Supreme Court has declined to review the First Circuit Court of Appeal’s ruling in Rise St. James v. LDEQ, essentially cementing the appellate court’s holding that an analysis of environmental justice (EJ) issues is required under Louisiana’s Public Trust Doctrine.
Continue Reading EJ Analysis Remains Part of Louisiana’s Public Trust Duty
This week EPA released the newest version of its environmental justice (EJ) screening and mapping tool, EJScreen 2.3. EJScreen is a mapping tool that combines environmental and socioeconomic data and is used to screen for potentially overburdened communities that may be affected by federal government programs and activities.
Continue Reading EPA Releases New Version of EJScreen
As we hit the halfway point of 2024, Louisiana is poised for significant legislative changes impacting civil procedure and litigation, energy, government, and insurance, among other sectors.
Continue Reading Louisiana’s Legislative Landscape: What’s New in 2024
On Friday, June 28, 2024, the United States Supreme Court overturned the Chevron doctrine in Loper Bright Enterprises v. Raimondo, 603 U.S. __ (2024), ushering in a new era of judicial review of agency action.
Continue Reading SCOTUS Dials Back Chevron Deference in Loper Bright Opinion
In March 2024, the Environmental Protection Agency (“EPA”) issued its final rule amending its Risk Management Program regulations (also referred to as, “Part 68”). These amended regulations went into effect on May 10, 2024.
Continue Reading EPA’s New Risk Management Program Regulations Impose New Requirements Including Additional Analyses for Process Hazards
On June 17, 2024, the IRS published Revenue Ruling 2024-14 as part of a package it says will raise an additional $50 billion dollars of income taxes over the next decade from “basis-shifting transactions.” In addition to the Revenue Ruling, the package includes three proposed regulations affecting basis adjustments. The Revenue Ruling seeks to curtail
The Louisiana Legislative 2024 Regular Session has officially come to a close and five Carbon Capture & Storage (CCS) bills were passed.
Continue Reading Louisiana Caps Legislative Session with Landmark Carbon Capture Legislation
On May 23, 2024, Louisiana Governor Jeff Landry signed into law the Community Air Monitoring Reliability Act (“the Act” or “CAMRA”). This Act sets standards for community air monitoring programs to ensure that the data collected from such programs provides the public accurate air quality information.
Continue Reading Louisiana Enacts Community Air Monitoring Reliability Act, Establishing Uniformity for Monitoring and Parameters for Data Use