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Tips & tools
A tax tip a day plus an array of tax tools, terms and training will help you through filing and beyond. |
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Louisiana
Louisiana collects income taxes using three rates: 2 percent, 4 percent and 6 percent. More on Louisiana taxes can be found in the tabbed pages below.
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Income |
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Sales |
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Property |
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Estate |
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Other |
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| Personal income tax |
 | Louisiana collects income taxes from its residents utilizing three tax brackets.
For single taxpayers, they are:
-- 2 percent on the first $12,500 of taxable income
-- 4 percent on taxable income
between $12,501 and
$25,000
-- 6 percent on taxable income
of $25,001 and above.
For married persons filing joint returns, the rates remain the same but the income brackets are doubled. |
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Residents need to file Form
IT-540, which is due by May 15. |
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Pelican State taxpayers will find on 2007 returns an opportunity to claim a refundable tax credit as reimbursement for any assessments included as part of their homeowner's insurance premium and made to the Louisiana Citizens Property Insurance Program. Details in Louisiana Revenue Information Bulletin 07-015. |
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| Sales tax |
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The sales
tax rate in Louisiana is 4 percent: a 3.97 percent Louisiana
sales tax and a .03 percent Louisiana Tourism Promotion District
sales tax. |
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Political subdivisions also levy
their own sales tax in addition to the state fees. |
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The
state also has a use
tax of 8 percent
applied toward goods
purchased out of state,
which includes 4 percent
to be distributed by
the Department of Revenue
to local governments.
The use tax is in lieu
of the actual local
rate in effect in your
area, and is payable
regardless of whether
the actual combined
state and local rate
in your area is equal
to, higher than, or
lower than 8 percent. |
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| Personal and real property taxes |
| Property
taxes are assessed and collected
at the local level -- 64 parishes
and 7 municipal districts
-- and not by the Louisiana
Department of Revenue. The
Louisiana Tax Commission has
a regulatory role regarding
property assessments. |
| Taxpayers
having property in the state
of Louisiana are required
to file a property tax return
with the assessor of any parish
and any municipality levying
a tax on or before April 1
or within 45 days of receipt
of the return form, whichever
is later, furnishing values
as of Jan. 1. |
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subject to ad valorem taxation
is listed on the assessment
rolls at its assessed
valuation, which, less
some exceptions, is a percentage
of its fair market value.
The percentage of fair market
value is uniform throughout
the state upon the same class
of property. |
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The following classifications of
property are subject to ad valorem taxation at the designated
percentage of fair market value applicable:
- Land, 10 percent.
- Improvements for residential purposes, 10 percent.
- Electric cooperative properties, excluding land, 15 percent.
- Public service properties, excluding land, 25 percent.
- Other property, 15 percent.
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Louisiana offers a homestead exemption
on the first $7,500 of the value of a person's primary residence.
The exemption, however, does not usually apply to municipal
taxes. |
| Inheritance and estate taxes |
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Louisiana collects an inheritance tax. Each heir receives an exemption that is subtracted from
their inheritance to determine the amount taxable. |
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The amount taxable is then multiplied
by the applicable tax rates. The exemption and tax rates to
which each heir is entitled is based upon their relationship
to the decedent. |
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All estates that are subject to
federal estate taxation under the U.S. Internal Revenue Code
must file a Louisiana Estate
Transfer Tax Return. |
| Other Louisiana Tax Facts |
| The Louisiana Department of Revenue offers eligible taxpayers the option of free Internet filing. |
| Once residents have filed, they can go online to check their refund status. |
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Athletes, even those who are not full-time residents of Louisiana, who received income from Louisiana sources, must file a state tax return reporting their state income.
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The
Department of Revenue Web site maintains informaton on various federal and state tax relief programs related to natural disasters. |
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Taxpayers can
report suspected cases of tax
fraud by filing online reports with
the state. |
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| Find out more on personal income
tax rates at the Louisiana Department of Revenue's Web
site. |
| To download
tax forms on this site, you will need to install a free copy
of Adobe Acrobat Reader. Click here for instructions. |
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