State Tax Laws - Louisiana

Personal tax rates range from 2-6%, with the top rate coming in at $50,000. The standard deduction and exemption is merged to be $4,500 single or double that for married couples; an additional $1,000 is applied for each dependent. Up to $6,000 of retirement income may be excluded. Social security and most government pensions are excluded. School supplies for children and adults are a tax deduction, so save those back to school receipts.

Louisiana has high corporate tax rates ranging from 4% to 11%. In addition, a franchise tax based on capital runs at $1.50 for each $1,000 up to $300,000, then $3 per $1,000 above that. Sales taxes are 4%, but can range up to 10.75% in localities. Louisiana tax information can be seen at: http://www.rev.state.la.us/.


1 (888) 547-4614

© 1stTax.com 2016 – tax savings are just a click away