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mule74
LSU Fan
Houston, TX
Member since Nov 2004
8464 posts

Louisiana stole it citizens federal tax refund??
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!?!?!
This post was edited on 2/26 at 1:14 pm


Powerman
LSU Fan
Virginia
Member since Jan 2004
136460 posts

re: Louisiana stole it citizens federal tax refund??
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


udtiger
LSU Fan
Louisiana
Member since Nov 2006
53597 posts

re: Louisiana stole it citizens federal tax refund??
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.


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121
BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
45817 posts

re: Louisiana stole it citizens federal tax refund??
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.


mule74
LSU Fan
Houston, TX
Member since Nov 2004
8464 posts

re: Louisiana stole it citizens federal tax refund??
Ok. Not has bad as I thought.


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Tigerdev
LSU Fan
Member since Feb 2013
12287 posts

re: Louisiana stole it citizens federal tax refund??
No. But LA will have no choice but to increase revenue to undo the damage of conservative ideologue Bobbi


90proofprofessional
LSU Fan
Member since Mar 2004
21233 posts

re: Louisiana stole it citizens federal tax refund??
your "article about this online" sounds like shitty reporting


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Alltheway Tigers!
LSU Fan
Baton Rouge
Member since Jan 2004
4978 posts

re: Louisiana stole it citizens federal tax refund??
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.


tigersnipen
LSU Fan
Member since Dec 2006
1909 posts

re: Louisiana stole it citizens federal tax refund??
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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