House committee advances bill to cut corporate income tax rate; part of governor's special tax session

BATON ROUGE - The House Ways and Means Committee took steps Sunday toward achieving the governor’s tax overhaul by advancing a bill to cut the corporate income tax rate, now one of the highest in the nation, in stages from 7.5% to 3.5%.The full House voted 69-6 to send the plan to the House Appropriations Committee for further consideration.Also on Sunday, the Ways and Means Committee voted to allow parishes to eliminate the business inventory tax.If passed by the House and the Senate