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re: Anyone else finding state taxes really high this year?
Posted on 3/29/23 at 8:44 am to bonescanner
Posted on 3/29/23 at 8:44 am to bonescanner
quote:A new law that we voted on swapped the deduction for Fed taxes paid for a reduction in the top rate from 6% to 4.25%. The smart providers of the state are greatly outnumbered by morons.
The state no longer gives you credit for federal taxes paid. My tax guy explained it this year. You no longer get to deduct that from your income like years past.
2
Posted on 3/29/23 at 9:57 am to dyslexiateechur
https://www.thecentersquare.com/louisiana/louisiana-tax-changes-take-effect-in-new-year/article_5a270580-68e8-11ec-9db4-c7fbfe59ea9d.html
Of course they did, those money-grubbing crooks.
That lying SOB. My state income tax bill definitely went up
quote:
Both Gov. John Bel Edwards, a Democrat, the GOP-controlled Legislature and Louisiana’s business community supported Amendment 2.
Of course they did, those money-grubbing crooks.
quote:
After voters approved the measure, 54-46, Edwards said, “Tax bills are not going to be higher.”
That lying SOB. My state income tax bill definitely went up
Posted on 3/29/23 at 9:58 am to dyslexiateechur
Nope.
Posted on 3/29/23 at 9:58 am to theronswanson
quote:
Haven’t paid state income taxes since moving to Florida years ago.
they get their money from you one way or another
Posted on 3/29/23 at 10:33 am to texag7
quote:
Why would anyone live in a state with income taxes
They make up for no state tax by sticking you elsewhere like license plates, drivers license, etc. Nobody escapes paying.
Posted on 3/29/23 at 10:36 am to White Bear
quote:
A new law that we voted on swapped the deduction for Fed taxes paid for a reduction in the top rate from 6% to 4.25%. The smart providers of the state are greatly outnumbered by morons
So Louisiana voters decided to raise their taxes so the highest tax bracket could get a deduction.
Posted on 3/29/23 at 10:38 am to BHTiger
quote:
Does it really matter? They are getting the money from somewhere. I bet your property taxes are higher than most.
So, move to a state with no income tax.
And into a city in a county in that state that has only a very small dysfunctional population who will not ever be productive. Then your high property taxes will be spent in your city and your county and you will receive much more of the benefits of that spending in good roads, good schools, good drainage, good law enforcement, good services, etc. etc. etc.
The opposite is to live in a failing city in a failing parish in a failing state, i.e. Baton Rouge. Where higher and higher taxes are spent to support dysfunctional populations and political bodies that are not focused on serving those who actually pay the taxes.
Posted on 3/29/23 at 10:40 am to dyslexiateechur
I got a small state refund and owe fed. I don’t understand why claiming single and zero exemptions isn’t enough and still owe. Seems payroll would be deducting the correct amount for my tax table percentage.
Posted on 3/29/23 at 10:41 am to texag7
quote:
Why would anyone live in a state with income taxes
Its overall tax burden that you need to look at. Louisiana ranks 28th & Texas ranks 29th. Interesting that Hawaii is 2nd and Alaska is 50th. The higher the ranking the lower the tax burden.
Posted on 3/29/23 at 10:43 am to White Bear
quote:
A new law that we voted on swapped the deduction for Fed taxes paid for a reduction in the top rate from 6% to 4.25%. The smart providers of the state are greatly outnumbered by morons.
When will Louisiana voters learn that every tax "swap" results in higher taxes. Our politicians aren't really very smart, but they have learned that this scam works on stupid voters time and time again.
Posted on 3/29/23 at 10:43 am to dyslexiateechur
quote:
I don’t understand how the same withholdings that get me a refund on federal apparently end up with me owing on state? I usually owe a little but this year is higher than it’s ever been for me.
It has happened to us the last couple of years. We used to always owe the IRS and state by design but the last 2 years we have recieved a small federal refund while owing the state. Same income more or less, same deductions more or less....
I plan for taxes every year in November for the following year. Out of curiosity mainly. Not one time have I ever hit it on the head. I have often hit the income on the head, hit the deductions on the head, but the total tax paid or due has never been what the various calculators I have used over the years came up with. They are usually close but a few times they have been wildly different.
Why is a return even necessary? We are getting about $400 back from the IRS this year. Our income and deductions are the same as last year except for a minor bump in COLA. Standard deductions are so high that few can itemize. I would gladly let them keep the $400 in exchange for having to bother.
Posted on 3/29/23 at 10:44 am to bonescanner
quote:
The state no longer gives you credit for federal taxes paid. My tax guy explained it this year. You no longer get to deduct that from your income like years past.
Idiots voted for this. It was presented as a two percent or so tax cut.
Posted on 3/29/23 at 10:46 am to dyslexiateechur
It is because of a change in allowing a deduction for federal income taxes paid that went away this year. We voted on it not long ago.
Posted on 3/29/23 at 10:50 am to theronswanson
quote:
Haven’t paid state income taxes since moving to Florida years ago.
Just curious, if I bought a house in Florida and changed my residency to there (driver's license, vehicle registration, etc) then just rented it out, would that be financially advantageous to me still technically making all of my money from and living in Louisiana 98% of the year?
Posted on 3/29/23 at 11:40 am to texag7
quote:
Why would anyone live in a state with income taxes
You think you can get out of paying taxes?
If it isn't income tax it'll be something else.
Posted on 3/29/23 at 11:44 am to dyslexiateechur
Posted on 3/29/23 at 11:47 am to tigerinthebueche
quote:
Government doesn’t produce or manufacture a fricking thing yet it gains revenues. Thanks to you!
How else is the Governor going to maintain status quo
Posted on 3/29/23 at 11:48 am to dyslexiateechur
quote:yes - I hate paying this loser state
Anyone else finding state taxes really high this year?
Posted on 3/29/23 at 12:32 pm to dyslexiateechur
Yes, because Louisiana changed the way state income taxes are calculated.
Posted on 3/29/23 at 12:49 pm to Giantkiller
quote:
....technically making all of my money from and living in Louisiana 98% of the year?
You file (and pay) income tax based on where you were when you made the money. My son worked in LA, TX, and OH last year, and had to file returns (and pay income tax) in LA and OH.
A wealthy buddy of mine tried that many years ago. He bought a nice place in Austin but spent most of his time in Louisiana. He got audited and they busted him. They asked for bank statements and credit card transactions. 80% of his activity was in Louisiana.
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