Tag Archives: Louisiana
Often overshadowed by their tax time counterpart – the federal income tax – state income tax rates generally receive less attention. However, they can definitely impact your overall bill, depending on where you live, where you work, and the total amount you earn. State Taxation of Residents States typically use one of three methods to […]
— Read moreThe Earned Income Tax Credit (EITC) is one credit offered by the government to working families with low-incomes, in an effort to keep them above the poverty line. The credit also helps to encourage families to continue to work, despite low earnings. The EITC can be a relief at tax time, and for Louisiana residents, […]
— Read moreLouisiana taxpayers who file a Federal tax return are required to file a state return. If you are a nonresident or part-year resident, you will be taxed on any income earned in the state, and will need to file IT-540B. In order to calculate the appropriate amount of taxes on the IT-540B, you have to […]
— Read moreThe Pelican State uses three separate tax brackets when assessing income tax to its residents. Those who file using the single status are subject to income tax at the following rates: 2% on the first $12,500 of taxable income 4% between $12,501 and $50,000 of taxable income 6% on any taxable income greater than $50,001 […]
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