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Started By
Message
Louisiana stole it citizens federal tax refund??
Posted on 2/26/18 at 1:09 pm
Posted on 2/26/18 at 1:09 pm
Sorry if I am late to the party but I just read an article about this online. My wife and I are seeing and extra $500 monthly since 1/1. It's been a big discussion among everyone I work with over here.
But LA has a provision that auto increases taxes to steal your money?? What in the frick!?!?!
But LA has a provision that auto increases taxes to steal your money?? What in the frick!?!?!
This post was edited on 2/26/18 at 1:14 pm
4
Posted on 2/26/18 at 1:11 pm to mule74
Not quite
Louisiana law states that the taxes are based on your net income which would be higher with a lower federal income tax
So you will pay slightly more in state income tax but not enough to cancel out your federal savings by any stretch
Louisiana law states that the taxes are based on your net income which would be higher with a lower federal income tax
So you will pay slightly more in state income tax but not enough to cancel out your federal savings by any stretch
Posted on 2/26/18 at 1:13 pm to Powerman
quote:
Not quite
Louisiana law states that the taxes are based on your net income which would be higher with a lower federal income tax
So you will pay slightly more in state income tax but not enough to cancel out your federal savings by any stretch
This
But...
Honor Code wants to increase taxes to steal the tax cut.
Posted on 2/26/18 at 1:13 pm to mule74
quote:
But LA has a prevision that auto increases taxes to steal your money?? What in the frick!?!?!
The LA state income tax is based upon your income MINUS federal tax.
If your fed tax goes DOWN...then, the state tax will go UP (because your State taxable income is up)
But, it will obviously be a smallish increase.
Hypothetical example:
You are getting 500 more per month...the state tax increase may be 10...so, you end up with 490.
Since your LA tax is based upon you Federal "net"...if you Fed "net" is higher...you pay LA tax on a bigger taxable income.
Posted on 2/26/18 at 1:14 pm to BlackHelicopterPilot
Ok. Not has bad as I thought.
Posted on 2/26/18 at 1:37 pm to mule74
No. But LA will have no choice but to increase revenue to undo the damage of conservative ideologue Bobbi
Posted on 2/26/18 at 1:40 pm to mule74
your "article about this online" sounds like shitty reporting
Posted on 2/26/18 at 2:22 pm to Tigerdev
quote:
No. But LA will have no choice but to increase revenue to undo the damage of conservative ideologue Bobbi
Sure, don't even mention the screwed up state constitution that protects EVERYTHING but healthcare and education. MAH BOBBY DID IT.
Posted on 2/26/18 at 2:31 pm to Alltheway Tigers!
quote:
Sure, don't even mention the screwed up state constitution that protects EVERYTHING but healthcare and education. MAH BOBBY DID IT.
Also Edwards taking the Medicare expansion which now the state (with a spending and revenue issue) needs to cover moving forward.
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