LCG vendor comp phase-out proposal - KLFY News 10

LCG vendor comp phase-out proposal

Updated:

Lafayette Consolidated Councilman Kevin Naquin explained a newly proposed ordinance, if approved by the council it would phase-out the rebate given to businesses for filing their sales taxes on time.  The reimbursement is 2% of the sales taxes they collect.

Naquin calls the proposed ordinance giving businesses time to adjust.  "In fact, when I look at the minutes from one of the last meetings some of the blue cards said if you're going to get rid of the program we would be more in favor of you guys phasing it out and giving businesses time to adjust. That's exactly what's in front of us," said Naquin.

Under the proposed phase-out, businesses would be allowed keep their vendor comp for 2014, reducing it by one percent the year after, and by 2016 the vendor comp would be no more. "Businesses should not be rewarded for doing what's required by law," explained Naquin.

Other council members wanted more information. "I would like to know which of the parishes in Acadiana are still collecting this, excuse me, are still getting the vendor comp rebate; which municipalities and which parishes," added Councilman Donald Bertrand.

Mayor Wilson Viator of Youngsville wrote a letter to the council.  Viator explained why Youngsville did away with the reimbursement back in April. The reasons for this change vary from the desire to  optimize the funds available to the city for daily operation and infrastructure to using the collected sales tax for the purposes voted by our citizens," noted Viator's letter.

Business owner Richard Hoyt doesn't support the vendor comp phase out.  Hoyt said he received $2,004 in vendor comp dollars, but at the same register credit card companies are charging him to collect. "Total credit card charges to collect our taxes were $1,875," explained Hoyt.

Naquin mentioned that according to reports the vendor comp, both parish and city wide, brings in about $1.5 million dollars annually.

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