Can anyone explain what exactly is changing with LA income tax and taxes?

You may see reduced income taxes. You're gonna pay more sales tax.

You're going to see us get rid of state sales tax because Louisiana is on the cutting edge of leading innovation

They did not tax any of the services (or expanded base) they had talked about.

Instead they added 0.55% to the sales tax rate. From 4.45 to 5 (supposed to lower to 4.75 in 5 years—probably won’t).

Income Tax Cuts.
In exchange they tripled standard deduction to $25,000 per couple ($50,000 if over 65 on top of a $12k per person retirement income exclusion, plus a full exclusion for Social Security and all government pensions).

After that deduction the income tax rate was lowered to 3% (down from 4.25).

That is the second lowest rate in nation of those states that have income tax.

So you are getting back 1.25%+ of your income to pay 0.55% more on some of what you choose to buy—I know i’m ahead.

Corporate Reform.
Corporate closed some loopholes and lowered its rate from 7.5 to 5.5. That was more than governor’s proposed 3.5% since they would not repeal movie credit and some other giveaway credits. They did close some big corporate breaks to pay for lowering rate.

They were able to repeal the franchise tax (an economically terrible tax on investing capital in the state). That did not have a budgetary impact because it was all going into a rainy day account— That account will still have $3 billion and will now be deemed full and saved for use in future budget shortfalls (but with no more added to it).

Dave Ramsey Plan for Teacher Raise.
They took $2 billion from a state trust fund earning 3.3% and paid off teacher pension debt running at 8%. That allows the local savings on the pension costs to go to required teacher pay raise (replacing a state one-time stipend of the same amount and stopping a fight on how to keep paying for it). The savings to the state on university employee pension contributions is $10m more than what that fund was earning—so that pays for lost fund earnings.

Not quite as transformative as what was originally proposed—but definitely conservative reform and the most actual progress in Louisiana’s sordid history.

I don't think anything else is going to end up happening. We'll see.

An individual making $200,000 would save $2,181 (slightly less than straight up math because you’re moving from a progressive rate structure to a flat tax so slightly less savings at bottom)

you would have to spend more than $396,000 on taxable sales items to come out behind

An individual making $100k would save $851 and that person would have to spend more than $154,000 on taxable sales tax items to come out behind

An individual making $50k would save $262 And that person would have to spend more than $47,600 on taxable sales tax items to come out behind

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It would cut individual income taxes by $1.3 billion and raise $845 million in higher sales taxes.

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Budget cuts coming

LINK

So this seems like something really good for those of us who work for a living

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Whatever it is, it will damn sure be a net gain for the state. It wouldn’t be happening otherwise. They want to steal more money.

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Yep, LA doesn't have a revenue problem, it has a spending problem.

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I don’t see how this was worth it when the big elephant is the size and scope of government

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I look at it as a start. There’s a huge segment of the population that don’t pay income tax. This increases their contribution and lowers those that do contribute.

I expect regular session will have more proposals to balance it out further. Cutting bloat is extremely important, but I think that’s a much bigger fight.

Yes LA has highest sales tax

But will become one of the top 12 lowest income tax states (9 states with none plus ND & AZ with 2.5% rate)

And tied for 4th lowest property tax burden on homeowners (average rate to value a third of Texas for example)
LINK