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July 26, 2024 at 10:10 AM. Republican Gov. Jeff Landry's goal to repeal or reduce the Louisiana income tax and simplify the state's convoluted tax code will have to wait until at least next year ...
Map of the United States with Louisiana highlighted. Louisiana is a state located in the Southern United States.According to the 2020 United States census, Louisiana is the 25th most populous state with 4,657,757 inhabitants and the 33rd largest by land area spanning 43,203.90 square miles (111,897.6 km 2) of land. [1]
The state taxes dividends and interest at 3% in 2024. The former 5% tax was decreasing by 1% each year, but a 2023 law accelerated the repeal to the start of 2025. [ 15 ] For large businesses, the 0.55% Business Enterprise Tax is essentially an income tax. The state also has a 7.5% (2024) Business Profits Tax.
The state sales tax rate is 4.45%, and parishes can levy additional sales tax on top of this. The state also has a use tax, which includes 4% to be distributed to local governments. Property taxes are assessed and collected at the local level. Louisiana is a subsidized state, and Louisiana taxpayers receive more federal funding per dollar of ...
A vote for would: Tighten the rules on allowed use of a seven-year-old state trust fund that collects dollars from corporate tax collections and oil and gas production in Louisiana.
The main question behind this issue stems into three different approaches. First, federal spending should be neutral, meaning federal taxation should roughly equal expenditures. Second, it should be redistributive, meaning rich states should be taxed most heavily and poorer states should receive more benefits.
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