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Started By
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2
Posted on 2/16/18 at 2:48 pm to Tarps99
quote:
Trump givith. Edwards takeith.
While I'd love this narrative to be true as much as the next non-tax and spend liberal.....it's just not the case it's a constitutional thing that has been there all along....also it kind of makes sense considering the federal taxes are deducted from the state taxes.
Posted on 2/16/18 at 2:50 pm to Golfer
quote:
Holy crap this thread is full of idiots.
I think a lot of people are unfamiliar with the LA constitution....I think that is even a greater reason that LA should call a constitutional convention to take a look at the damn thing.
It's going to take a bunch of people in the legislature with balls.
Posted on 2/16/18 at 2:56 pm to LSU316
quote:
I think a lot of people are unfamiliar with the LA constitution....
Irrelevant to this discussion. There's people that have been paying taxes for years in Louisiana and had no idea they were deducting their Federal Tax paid from their state return? And that with a reduction in Federal Taxes owed, they would then owe more to the state than they did previously?
This is common sense stuff, IMO.
quote:
I think that is even a greater reason that LA should call a constitutional convention to take a look at the damn thing.
Agreed. I want to rip up the entire thing and start anew.
Posted on 2/16/18 at 3:02 pm to Golfer
quote:
Irrelevant to this discussion. There's people that have been paying taxes for years in Louisiana and had no idea they were deducting their Federal Tax paid from their state return? And that with a reduction in Federal Taxes owed, they would then owe more to the state than they did previously?
This is common sense stuff, IMO.
All true.
Posted on 2/16/18 at 3:10 pm to SPEEDY
So our federal tax goes down more than our state tax goes up so we still win.
Posted on 2/16/18 at 3:43 pm to LSU316
quote:
The bottom line is the fact that this was released yesterday is a damn joke. They should have had these out when the final US withholdings were released back in January.
So... the updated US withholding tables are kind of a problem because they tried to modify the current ones for the new rates and increased standard deduction, but people's W-4s still list exemptions. So it's not exactly an exact science.
Now the state... they are just guessing on these tables. they have run some scenerios but it takes them time to figure this out and they really could not get started until the US released theres. My guess is that LDR just looked at how the federal tables were adjusted, and did a similar adjustment.
Posted on 2/16/18 at 3:46 pm to Mingo Was His NameO
quote:
For example, if I don't own property, I don't have property tax.
Oh shite it's a guy who doesn't think businesses pass on the costs of property taxes to end consumers.
Posted on 2/16/18 at 3:48 pm to LSUFanHouston
OK...why give me a hard deadline of 2/16 to have them in place or I'll "get fined"?
If it is a moving target let it be moving.....now granted I get that people might have a higher state tax bill to pay on tax day which is something smart people will understand.
What this comes down to is what somebody said earlier....the state's wants the extra dollars in the coffers as quickly as possible.
If it is a moving target let it be moving.....now granted I get that people might have a higher state tax bill to pay on tax day which is something smart people will understand.
What this comes down to is what somebody said earlier....the state's wants the extra dollars in the coffers as quickly as possible.
This post was edited on 2/16/18 at 3:49 pm
Posted on 2/16/18 at 3:53 pm to Golfer
quote:
Holy crap this state is full of idiots.
Fixed.
Posted on 2/16/18 at 3:58 pm to Cocotheape
quote:
Oh shite it's a guy who doesn't think businesses pass on the costs of property taxes to end consumers.
What are you talking about? I'm talking about state income tax. It's a direct tax. Property or sales tax are indirect taxes. If I don't buy anything I don't have sales tax, if I don't own property I don't have a property tax liability. I'm not saying anything about businesses or how they pass down costs, I'm talking about individuals tax liabilities and how they can more easily plan/control their liability with those indirect taxes as opposed to an income tax.
Posted on 2/16/18 at 4:36 pm to Mingo Was His NameO
I've been crunching some more numbers here and it looks like 100K is the danger zone. If you make less that 100K then you will see a negligible increase....a little over 6 bucks per check (if you make 100K/year are paid weekly). When you go over 100K and the 5.05% or 5.10% kicks in (depending on exemptions) that looks like where the big money comes in. The one example that I ran was a person making 126K and that person was paying 30 bucks more per check (paid weekly).
This post was edited on 2/16/18 at 4:37 pm
Posted on 2/16/18 at 4:38 pm to doubleb
Turn your sarcasm radar on...
Posted on 2/16/18 at 5:59 pm to LSU316
I was just being sarcastic.
But if we had a Governor worth his salt in trying to bring economic development to the state, he would have issued an executive order placing a hold on the effective tax increase and let the legislature decide if they want to increase taxes.
Trump and Congress essentially gave him a gift of a smaller budget hole.
Who would have thought just a few dollars and a few cents for some would equate to an increase of nearly 200 million dollars in new revenue to Baton Rouge.
That is not including any additional revenue that can be cycled through the economy.
I know it is a essentially a band aid on the state’s fiscal problems. But Baton Rouge has to get a handle on our state’s budget. It also needs to get a handle on the business hand outs. There are too many special tax loopholes that are also eating at revenue.
Too much money is ineffectively spent through Medicaid and is a waste of State and Federal Dollars.
But if we had a Governor worth his salt in trying to bring economic development to the state, he would have issued an executive order placing a hold on the effective tax increase and let the legislature decide if they want to increase taxes.
Trump and Congress essentially gave him a gift of a smaller budget hole.
Who would have thought just a few dollars and a few cents for some would equate to an increase of nearly 200 million dollars in new revenue to Baton Rouge.
That is not including any additional revenue that can be cycled through the economy.
I know it is a essentially a band aid on the state’s fiscal problems. But Baton Rouge has to get a handle on our state’s budget. It also needs to get a handle on the business hand outs. There are too many special tax loopholes that are also eating at revenue.
Too much money is ineffectively spent through Medicaid and is a waste of State and Federal Dollars.
Posted on 2/16/18 at 6:00 pm to SPEEDY
Lot’s of stupid in this thread. People really shouldn’t comment when they don’t know shite about taxes. Everyone in LA gets to reduce their LA taxable income by the federal income taxes paid. So if your federal taxes go down your LA taxable income goes up. Jesus.
Just wait...JBE wants to do away with your ability to reduce your LA taxable income by federal income taxes paid. Then you’ll really be screwed.
Just wait...JBE wants to do away with your ability to reduce your LA taxable income by federal income taxes paid. Then you’ll really be screwed.
Posted on 2/16/18 at 6:05 pm to Mudminnow
quote:
MS is currently voting on no state income taxes and Texas doesn't have any. Will be interesting with Louisiana sandwiched in between to see what direction they go.
The same. A new constitution is probably needed. Bring back EWE to help with that
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