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Social Security income is not taxed. Withdrawals from retirement accounts are partially taxed. Wages are taxed at normal rates, and your marginal state tax rate is 1.85%. Public pension income is not taxed, and private pension income is partially taxed.
Louisiana has a combined personal and standard deduction of $4,500 for all filing status. You can also itemize your Louisiana deductions. When you prepare and eFile your Tax Return the eFile Tax App will apply the correct standard deductions for you or you can apply the itemized deduction method.
Residents with exempt income, interest income from obligations of other states and their political subdivisions, or residents 65 or over with annual retirement income taxable to Louisiana must use Schedule E to determine their Louisiana adjusted gross income.
Your Louisiana Income Tax ? Line 10 - Act 395 of the 2021 Regular Legislative Session reduced the income tax rates to 1.85%, 3.5%, and 4.25%. The lower rates are reflected in the tax tables.
Who must file. Louisiana residents, part-year residents of Louisiana, and nonresidents with income from Louisiana sources who are required to file a federal income tax return must file a Louisiana Individual Income Tax Return.
If you are single, you should file Form IT-540, Louisiana Resident Individual Income Tax Return, reporting all of your income to Louisiana. If you are married and both you and your spouse are residents of Louisiana, you should file Form IT-540 reporting all of your income to Louisiana.
Partners who are corporations are required to file Form CIFT-620 to report any partnership income. Partners who are Louisiana resident estates and trusts are required to file Form IT-541 to report partnership income. Partners who are themselves partnerships are required to file all applicable Louisiana tax returns.
Supplemental. Income and Loss. Use Schedule E (Form 1040) to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs. You can attach your own schedule(s) to report income or loss from any of these sources.