Eliminating Louisiana's income tax could mean higher sales tax, fewer exemptions

Crusader · 01-11-2013, 02:24 PM

Really interesting. What is the current rate for personal income tax in Louisiana today?

mutineer10 · 01-12-2013, 08:35 AM

Originally Posted by Crusader

Really interesting. What is the current rate for personal income tax in Louisiana today?

This site has a table:

Louisiana Income Tax Rates and Tax Brackets, 2012-2013

Of course there are variables and adjustments, but it basically boils down to:

$0 - $12,499 taxed at 2%
$12,500 - $49,999 taxed at 4%
$50,000+ taxed at 6%

*amounts doubled for couples*

I haven't done my math on it yet, but I'm pretty sure doing away with the income tax while increasing the sales tax would actually hurt my household. I work full time, but my wife is a student with no real income except occasional paid intern work. As of now, only I'm paying state income taxes, but of course we BOTH pay sales taxes every day. I doubt the money saved off my paycheck will offset sales tax increases, especially if they're pretty hefty.

01-11-2013, 02:24 PM	#1
Crusader Resident Swede Join Date: Sep 2005 Location: Märsta, Sweden Posts: 8,045	Re: Eliminating Louisiana's income tax could mean higher sales tax, fewer exemptions Really interesting. What is the current rate for personal income tax in Louisiana today?

01-12-2013, 08:35 AM	#2
mutineer10 Site Donor Join Date: Nov 2004 Location: Baton Rouge, LA Posts: 1,739	Re: Eliminating Louisiana's income tax could mean higher sales tax, fewer exemptions Originally Posted by Crusader Really interesting. What is the current rate for personal income tax in Louisiana today? This site has a table: Louisiana Income Tax Rates and Tax Brackets, 2012-2013 Of course there are variables and adjustments, but it basically boils down to: $0 - $12,499 taxed at 2% $12,500 - $49,999 taxed at 4% $50,000+ taxed at 6% amounts doubled for couples I haven't done my math on it yet, but I'm pretty sure doing away with the income tax while increasing the sales tax would actually hurt my household. I work full time, but my wife is a student with no real income except occasional paid intern work. As of now, only I'm paying state income taxes, but of course we BOTH pay sales taxes every day. I doubt the money saved off my paycheck will offset sales tax increases, especially if they're pretty hefty.