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Started By
Message
re: Louisiana raises state taxes in response to Federal tax law change
Posted on 2/16/18 at 9:52 am to Gaspergou202
Posted on 2/16/18 at 9:52 am to Gaspergou202
quote:
I only laugh at aTm.
0
Posted on 2/16/18 at 9:53 am to toosleaux
quote:
Louisiana raises state taxes
This is shitty reporting. Lawmakers have to meet and vote on a bill if they're going to raise taxes.
Here's all that's probably happening here: LA has a deduction for fed income taxes paid. Due to TCJA, less fed income taxes will be paid, so state deductions will be smaller, and like 6% of the gains will go to the state automatically by the end of the tax year. The withholding tables I guess just make that happen faster.
Posted on 2/16/18 at 10:08 am to 90proofprofessional
The reason is exactly what you guys are touching on now.
Individuals and corporations are allowed to deduct the federal taxes on their state tax returns. So since the federal taxes went down, the state taxes will go up. The IRS changed the paycheck withholdings calculators to take less out of the paychecks for the federal tax changes. Louisiana is just catching up now to increase the taxes taken from checks because the deduction for federal taxes will go down.
So those who are paid paychecks will see the change now. Self-employed individuals or corporations will see the fed and state tax change at year end (unless they're calculating to send estimated tax payments during the year.)
Individuals and corporations are allowed to deduct the federal taxes on their state tax returns. So since the federal taxes went down, the state taxes will go up. The IRS changed the paycheck withholdings calculators to take less out of the paychecks for the federal tax changes. Louisiana is just catching up now to increase the taxes taken from checks because the deduction for federal taxes will go down.
So those who are paid paychecks will see the change now. Self-employed individuals or corporations will see the fed and state tax change at year end (unless they're calculating to send estimated tax payments during the year.)
Posted on 2/16/18 at 10:10 am to Dead End
Negative. I chose not to vote for Vitter because he was trying to strongarm and threaten numerous commissioners and elected officials to publicly support him or Vitter would “destroy them and their departments” once elected.
I would rather a tax and spend liberal who can be fought by the house and senate than a dictator who would have the house and senate doing his personal biddings.
I would rather a tax and spend liberal who can be fought by the house and senate than a dictator who would have the house and senate doing his personal biddings.
Posted on 2/16/18 at 10:28 am to toosleaux
Property Tax High
Sales Taxes High
State Income Tax High
Frick this state
Sales Taxes High
State Income Tax High
Frick this state
Posted on 2/16/18 at 10:36 am to Aristo
Dumbass. He can't do a damn thing BUT let it happen
Posted on 2/16/18 at 10:45 am to Jimmy2shoes
quote:
It might be the constitution but that tax tax tax liberal is wasting money and not cutting anything!
Don't you think the legislature may have some culpability in this as well?
Posted on 2/16/18 at 10:49 am to lsu13lsu
quote:
Property Tax High
Sales Taxes High
State Income Tax High
Frick this state
Have you thought of moving?
Posted on 2/16/18 at 10:51 am to TGFN57
quote:
It's mandated by the LA constitution
True, but his point still stands for the tards who used their vote on your governor.
Posted on 2/16/18 at 10:58 am to toosleaux
I will not move back unless things change. I have told my kids to run.
Posted on 2/16/18 at 11:34 am to BlackHelicopterPilot
quote:The tax rate is unchanged.
Is it that withholding goes up or the actual tax RATE?
quote:Yes, our state income tax amount will increase because we've always been able to subtract our Federal taxes from taxable income for state income tax purposes.
I’m just wondering if the actual taxes owed is increased
With lower federal tax liability because of the new tax law, the amount we can subtract from our taxable income for state tax purposes will be less resulting in a higher taxable income amount for state tax purposes.
If a person's federal taxes goes down by $1,000 and if that taxpayer is in the 6% state income marginal tax bracket (which is the HIGHEST state rate), he will owe $60 more in state income tax for the year.
So, fed taxes go down $1,000 and state taxes go up $60. I'll take it!
Posted on 2/16/18 at 8:47 pm to Errerrerrwere
quote:
I hate this fat mongoloid mother fricker!
Posted on 2/16/18 at 8:50 pm to toosleaux
Withholding is not tax. Y’all do know that, right?
Posted on 2/16/18 at 8:51 pm to BeeFense5
quote:
All those “conservatives” that voted for JBE
I hope they all get the flu and dick/clit cancer.
Posted on 2/16/18 at 8:54 pm to lsu13lsu
quote:
Property Tax High
Sales Taxes High
State Income Tax High
Sales tax is high but the others are among the lowest in the nation. You seem like you don’t really know much about this.
Posted on 2/16/18 at 9:01 pm to toosleaux
This post and thread are a great microcosm of how biased idiots get outraged before doing even the slightest research or backchecking.
Posted on 2/16/18 at 9:04 pm to BestBanker
God Bless Florida!
Posted on 2/16/18 at 9:19 pm to rintintin
Moved back from Montana to help take care of my DAD, I am now on a full out assault to get him to sell his house and move to Montana where among many other great things, there are absolutely zero sales tax and don't worry , I lived there for 8 years and I can put up with the cold.
This post was edited on 2/16/18 at 9:20 pm
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