INCENTIVES
The City of Monroe has taken a proactive stance in making the business environment even better.
Businesses can benefit from many tax incentives offered by both the federal government and the State of Louisiana.
The Renewal Community
The Renewal Community is a federal designation that makes a wealth of incentives available to businesses located within its boundaries.
The Quality Jobs (QJ) Program
The Quality Jobs (QJ) program provides a cash rebate to companies that create well-paid jobs and promote economic development.
The Enterprise Zone Program
The Enterprise Zone program is a jobs incentive program that provides Louisiana income and franchise tax credits to a new or existing business located in Louisiana creating permanent net new full-time jobs, and hiring at least 50% of those net new jobs from one of four targeted groups.
The Louisiana Industrial Ad Valorem Tax Exemption Program (ITEP)
The Louisiana Industrial Ad Valorem Tax Exemption Program (ITEP) is an original state incentive program, which offers an attractive tax incentive for manufacturers who make a commitment to jobs and payroll in the state.
Opportunity Zones
The City of Monroe has 3 designated opportunity zones located within the city limits.
Cultural Districts and Historic Designations
The City of Monroe has 3 designated Cultural Districts where incentives are in place for revitalizing commercial properties for commercial use that are 50+ years old.
Louisiana Economic Development requires companies to file an Advance Notification, along with the appropriate fee, before any hiring, purchasing or construction begins on a project. When a company provides Advance Notification, it is communicating to LED that it intends to take advantage of an incentive(s). The Advance Notification must be submitted for the following incentives:
- Enterprise Zone
- Quality Jobs
- Restoration Tax Abatement
- Industrial Tax Exemption
For more information on these and other incentives, visit https://www.opportunitylouisiana.gov/business-incentives for more information or contact Rob Cleveland, GrowNELA CEO, rob@grownela.com.
Online Application
LED incentives available for online application through FastLane include:
- Enterprise Zone
- Industrial Tax Exemption
- Quality Jobs
- Restoration Tax Abatement
To apply for other incentives, printable PDF applications and instructions are available for applicants. Visit the Incentives Page for more information.
Corporate Income Tax
| State (imposed annually on net taxable income after deductions): | |
| First $25,000 | 4% |
| Next $25,000 | 5% |
| Next 50,000 | 6% |
| Next $100,000 | 7% |
| Next $200,000 | 8% |
| Local: No corporate income tax |
Corporate Franchise/State Tax
| State (imposed annually on both domestic and out of state corporations): | |
| First $25,000 | 4% |
| Next $25,000 | 5% |
| Next 50,000 | 6% |
| Next $100,000 | 7% |
| Next $200,000 | 8% |
| Local: No corporate franchise tax |
Sales Tax
| The City of Monroe’s Tax and Revenue Division is the collector of all sales/use taxes in the parish. | |
| State | 4.45% |
| Monroe | 5.99% |
| Richwood | 5.5% |
| Sterlington | 6.5% |
| West Monroe | 5.99% |
| East Ouachita Parish | 5.99% |
| West Ouachita Parish | 5.99% |
Property Taxes
