USA – LOUISIANA Law and Practice Contributed by: Jeffrey P. Good, Susan M. Tyler and B. Trevor Wilson, Jones Walker LLP
holding tax on gross rental income, though such withholding is beyond the scope of this article. 8.5 Tax Benefits US income tax benefits for real estate includes preferential long-term capital gain rates on dis - positions. Additional significant tax benefits include: • depreciation deductions; • bonus depreciation for qualified improvement property;
• deductibility of mortgage interest and prop - erty taxes; • 1031 tax-deferred exchanges to defer capital gains tax; and • opportunity zone investments offering capital gains deferral and potential exclusion Louisiana-specific incentives include the Resto - ration Tax Abatement Program, which provides property tax abatements for renovations of exist - ing structures in designated districts, and vari - ous historic preservation tax credits.
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