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re: Louisiana, how does it feel to have the highest state taxes in the nation?
Posted on 3/13/25 at 3:37 pm to Oilfieldbiology
Posted on 3/13/25 at 3:37 pm to Oilfieldbiology
quote:
how does a sales tax prevent/hinder business? I’ve always viewed it as a tax on consumers, not producers or venders
Businesses don’t buy things too?
It raises both the costs of your inputs and affects the cost of your outputs/margin too. Prices are not inelastic.
And the cost of compliance in Louisiana, for sales tax especially, is insane. Entities that sell statewide have to file 60+ returns every month
This post was edited on 3/13/25 at 3:39 pm
1
Posted on 3/13/25 at 3:37 pm to WildcatMike
quote:
combined state and average local
Useless. Map tells you nothing.
This post was edited on 3/13/25 at 3:38 pm
Posted on 3/13/25 at 3:38 pm to Mingo Was His NameO
quote:
That’s incorrect
I've read that report for years, I'm a huge fan of the Tax Foundation.
I am not incorrect.
Louisiana is an outlier in how state vs local government is structured, which always makes these comparisons very suspect.
Posted on 3/13/25 at 3:39 pm to WildcatMike
Small price to pay for living in paradise.
Posted on 3/13/25 at 3:40 pm to WildcatMike
quote:
Louisiana, how does it feel to have the highest state taxes in the nation?
Might want to specify SALES TAX...
Posted on 3/13/25 at 3:41 pm to LSUFanHouston
quote:
Louisiana is an outlier in how state vs local government is structured
The index absolutely considers local taxes. And while your statement may be true, it would make Louisiana lower in the rankings. Having to deal with unsophisticated locals who can and do administer their own taxes and deviate from state tax code make compliance harder and more expensive
Straight from the arrival on how local taxes are considered and indexed
quote:
In the rate subindex, the top rate variable now includes the state’s top marginal income tax rate and the average local income tax rate in the two largest jurisdictions. Previously, we used the average local income tax rate in the largest jurisdiction and the state capital. Our new approach notably affects states like Pennsylvania and Kentucky, where the largest cities tend to have the highest local income tax rates. The rate subindex now includes a new variable that reflects the progressivity of the individual income tax rate structure.
This post was edited on 3/13/25 at 3:47 pm
Posted on 3/13/25 at 3:41 pm to Mingo Was His NameO
quote:
OP did nothing but put factual information in both his title and thread
Did you get your accounting degree from Southern?
OP title says: Louisiana, how does it feel to have the highest state taxes in the nation?
That is factually incorrect.
LA does not have the highest state taxes in the nation.
LA does have the highest sales taxes in the nation. But that is not the OP title.
LA does have one of the worse state taxes in the nation. One of the highest, not the highest.
OP can't write and Mingo can't read, apparently.
Posted on 3/13/25 at 3:47 pm to Oilfieldbiology
quote:
Honest question, how does a sales tax prevent/hinder business? I’ve always viewed it as a tax on consumers, not producers or venders
Businesses pay sales tax on items they buy.
Say I own a restaurant, I don't pay taxes on the ingredients, but I pay sales tax on every piece of equipment or finished product.
A restaurant might not pay sales tax on the chicken they use in their dishes, but they do on their paper products and on the fryers they purchased.
This post was edited on 3/13/25 at 3:47 pm
Posted on 3/13/25 at 3:54 pm to LSUFanHouston
quote:
OP can't write and Mingo can't read, apparently.
And you can’t do tax, apparently, which is why you’re stuck at a 1065 farm
Posted on 3/13/25 at 3:55 pm to dgnx6
quote:
but I pay sales tax on every piece of equipment or finished product.
No you don’t
Posted on 3/13/25 at 3:57 pm to Oilfieldbiology
quote:
Do state income taxes. At least sales taxes are paid equally by every citizen.
Yup. It's overall state/local tax burden that matters. Of course places that have no or low state income tax will have to make that money elsewhere.
Posted on 3/13/25 at 4:03 pm to WildcatMike
frick LANDRY...I'll never make that mistake of voting for him again.
Posted on 3/13/25 at 4:04 pm to LordSaintly
quote:
And unlike other states with high sales taxes, we also have a state income tax. I hate this place.
Those places also have extremely high property taxes and are bigger tourist destinations than LA. A few years ago BR Business Report did a comparison between LA and TX taxes. Essentially we pay the same just structured differently.
One way or another government will get its pound of flesh!
Posted on 3/13/25 at 4:05 pm to Mingo Was His NameO
Your map and my map doesn't have this either mingo
quote:
Examples of State Gas Taxes:
California: 68.1 cents per gallon
Illinois: 66.5 cents per gallon
Pennsylvania: 58.7 cents per gallon
Alaska: 8.95 cents per gallon
Mississippi: 18.4 cents per gallon
Hawaii: 18.5 cents per gallon
Louisiana: 20 cents per gallon
Posted on 3/13/25 at 4:06 pm to Mingo Was His NameO
quote:
Straight from the arrival on how local taxes are considered and indexed quote:In the rate subindex, the top rate variable now includes the state’s top marginal income tax rate and the average local income tax rate in the two largest jurisdictions. Previously, we used the average local income tax rate in the largest jurisdiction and the state capital. Our new approach notably affects states like Pennsylvania and Kentucky, where the largest cities tend to have the highest local income tax rates. The rate subindex now includes a new variable that reflects the progressivity of the individual income tax rate structure.
You just proved my point.
Very few localities have a local income tax.
Does the index consider local sales and property taxes?
Posted on 3/13/25 at 4:07 pm to Mingo Was His NameO
quote:
And you can’t do tax, apparently, which is why you’re stuck at a 1065 farm
Joke is on you, I haven’t done a 1065 in years
Posted on 3/13/25 at 4:08 pm to WildcatMike
Highest state Sales tax..... Everyone pays.....
Posted on 3/13/25 at 4:12 pm to Dadren
quote:
I don’t know the best way to do this, but it seems like an analysis like this should take into account all the taxes one would pay living in the state, not just sales tax.
You are talking about total tax burden and we are 27th according to this LINK (some kind of CPA association website).
Posted on 3/13/25 at 4:13 pm to WildcatMike
Louisiana has very low property taxes, though.
Posted on 3/13/25 at 4:16 pm to WildcatMike
we do a lot of studies for a new bridge...money has to come from somewhere
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