Get Louisiana Tax Computation Worksheet 2012 Form

Completing the Louisiana Tax Computation Worksheet 2012 Form online can streamline your tax filing process. This guide offers detailed, step-by-step instructions to help you accurately fill out each section of the form.

Follow the steps to successfully complete your tax computation worksheet online.

1. Click ‘Get Form’ button to obtain the form and open it in your preferred editor.
2. In section A, enter your taxable income by printing the amount from Line 3 of your income statement.
3. For section B, determine if your income from Line A is greater than $12,500 (or $25,000 if your filing status is 2 or 5). Print the appropriate amount: $12,500 or $25,000 if applicable; otherwise, print the amount from Line A.
4. In section C, calculate your allowable deduction by multiplying the amount from Line C3 by the ratio printed in Line D.
5. For section E, calculate your taxable first bracket by subtracting the amount in Line E from the value in Line B. Multiply the result by 2% (0.02) and enter this value in the TAX column.
6. In section F, compute the second bracket: subtract Line B from Line A. If this amount is greater than zero, print it or $12,500 ($25,000 if filing status is 2 or 5)—whichever is less. Reduce this amount by any amount that Line E exceeds Line B, then multiply the balance by 4% (0.04) and print the result in the TAX column.
7. For section G, calculate the third bracket by subtracting $25,000 ($50,000 if filing status 2 or 5) from Line A. If this result is less than zero, enter zero. Multiply the remaining balance by 6% (0.06) and fill this value in the TAX column.
8. In section H, for the combined personal exemption and standard deduction (Line C1), print $9,000 if your filing status is 2, 4, or 5; if your status is 1 or 3, print $4,500.
9. If applicable, in Line C2, print $1,000 for taxpayers or spouses who are 65 or older or blind, and for each dependent.
10. Calculate Line C3 by adding the values from Line C1 and Line C2 to get the total.
11. Complete Line D by entering the ratio: for residents, it's 100%, while for nonresidents, divide your estimated Louisiana income by your estimated federal adjusted gross income. Ensure the ratio is reflected in two decimal places without rounding up.
12. Finally, in the Total Tax section, add the taxes from Lines F, G, and H, and enter the total on Line 4.

Complete your Louisiana Tax Computation Worksheet 2012 Form online today to ensure accurate filing.