FULL List to Louisiana Tax Forms
Individual Income Tax Forms
Form IT-540 Individual Income Return Resident
Form IT-540B Individual Income Return Nonresident
Form IT-541 Fiduciary Income Tax Return
Corporate Income Tax Forms
Form CIFT-620 Corporation Income Tax Return
Sales Tax Forms
Form R-1377 Direct Payment Sales Tax Application
Form 1029 Sales Tax Return
There are a number of taxes applicable to the state of Louisiana, which includes sales tax and three income brackets for personal income taxation. Tax returns are due on April 15.
Louisiana state sales tax – 4%, (3.97% to the state and .03% for tourism promotion)
Louisiana state personal income tax
Three income brackets for single filings
2% – first $12,500 of taxable income
4% – $12,501 – $50,000
6% – $50,001+
Louisiana state excise taxes
Taxes assessed on vehicles, alcohol, tobacco, gasoline and are in addition to federal excise taxes.
$.18 package of cigarettes, $.08 – $.20 for cigars, $.33 for smoking tobacco, 20 for smokeless tobacco.
$.66 tax per liter of liquor.
$10 per 31 gallon barrel of beer.
$.42 per liter of wine over 24% alcohol or sparkling wine, “Still Wine” 14-24% alcohol $.06 per liter. Subject to $1.50 parish tax per liter.
Hazardous waste disposal (per ton)
$30 for waste generate in Louisiana
$40 for waste generated out of state
$100 for extremely hazardous materials
Louisiana State marijuana/drug taxes
$3.50 per gram of processed marijuana, 42.5 grams or more
Tax payments of this nature are made anonymously and signified by adding a tax stamp to the product. This is a legally questionable tax due to the implications for self-incrimination for all that buy these stamps. Nonpayment of drug tax adds tax evasion to any charges that a drug deal might face.
Louisiana estate tax
Louisiana would only impose an estate tax if the federal estate tax were phased out. This took effect on Jan 1, 2005. All deaths prior to the new law are subject to taxation from the old Louisiana estate law.
Louisiana payroll taxes
State Disability Insurance – none
State Unemployment Insurance – .11% to 6.20%, wage base is $7,700. Employer contribution is between 1.07% and 2.81%.
Louisiana state property tax
The Louisiana State property tax is collected at the local level, which assesses property. Louisiana offers a homestead exemption on $7,500 of the person’s house, but does not apply to municipal taxes. Due to this exemption, only properties work more than $75,000 is taxed. Assessments are made based on 10% of the market value of the house.
There is an exemption of up to $6,000 retirement income for persons and couples over 65. Most government pensions are not taxable. Disability payments are also non-taxable income.
Corporate income tax
All corporations pay four percent on the first $25,000 of net income and then follow the following scale:
Five percent on the next $25,000
Six percent on the next $50,000
Seven percent on the next $100,000
Eight percent on the excess over $200,000
Military personnel are taxed by federal income tax laws, unless they make non-military income in Louisiana. The military income is not used in determining income for taxation in Louisiana. Military benefits are not taxed.
Louisiana state tax law sets forth that residents, part-year residents, and nonresidents amassing income from the state be required to file a Louisiana income tax return.
In addition, individuals in the military must also file returns if they reside within the state so as to inform the state of all the income they may have garnered while taking up permanent residence there, despite being stationed in various other regions. These returns are due on May 15th each and every year. In terms of residents, they must report all their income, even that which is earned in another state.
Due to this, a temporary leave of your state does not completely alter you individual Louisiana income tax status. Certain deductions may also be permitted from taxed income. One such example is that of military personnel who were stationed in another region actively for 120 or more days in succession. These individuals are eligible for a deduction that may be as high as $30,000.
Nonresidents and part-year residents present other parties to consider when referencing the filing of Louisiana income taxes. In contrast to that of residents, however, the only taxed income is that which is garnered within the state of Louisiana. Louisiana state tax law does not oversee income of nonresidents from other states.
In addition, all monetary gains from gambling within the state is also required to be included within Louisiana income tax returns. Both nonresidents and part-year residents will employ the assistance of the "tax computation worksheet" in order to accurately calculate the amount of tax set forth on their income. One additional specification that Louisiana state law recognizes in terms of individual income tax returns is that of nonresident athletes.
These individuals must be members of any one of the following associations or leagues: PGA Tour, Inc., NFL, NBA, NHL, the East Coast Hockey League, or the Pacific Coast League. For these nonresident athletes, income must comprise whatever money they garnered from their service to their employment as professional athletes as well as any other sources within the state of Louisiana.
Examples include that of endorsements and royalties. Their income is calculated by attaining a ratio based upon the amount of "Louisiana Duty Days over the total number of Duty Days." Duty days may be defined as the quantity of days that the individual had participated as a full-fledged athlete, meaning from legitimate preseason training to the last game of their season, whether regular season or post.
An additional tax that persons in Louisiana may take interest in is that of a "gift tax." For gifts prior to July 2008, a return must have been filed. Those accountable for such a tax include the actual giver of the gift. In general, tax is 2% for the first $15,000 in taxed gifts and 3% for those that exceed this amount. All returns and payments must be filed by April 15th. Failure to do so will result in the liability of the accepting party in the total amount valued to the gift.