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      July 23, 2018

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Tax Relief in Louisiana

Louisiana MapWhen looking at how Louisiana ranks with respect to individual tax, the state tends to fare well. Louisiana’s personal income tax ranks 21st highest among the fifty states, with a top rate of 6%. The total average of state and local income taxes collected per capita, $527, puts the state in 12th lowest place nationwide. Additionally, with an average of $776 collected in property taxes per resident, Louisiana is 8th lowest among all fifty states.

Even when looking at federal income tax, Louisiana is below the national average. Residents typically pay approximately $9,701 yearly in federal income taxes, $2,000 less than the national average.

However, with the lowest median household income in the nation and one of the highest rates of decline in that household income - $39,622 and 19.75%, respectively - Louisiana faces significant challenges with respect to personal tax debt and delinquency. Any unexpected reduction in income - job loss, medical expenses, and so on - can result in residents finding themselves behind in meeting tax obligations. Understandably, if faced with choosing between feeding their families (or paying the mortgage/rent, or putting gas in the car to get to work) and putting money into savings to pay Uncle Sam, most people will choose to meet the immediate needs and hope for the best later. Of course, this more often than not results in delinquent tax bills. However, more individuals in Louisiana are availing themselves of one power strategy for addressing those challenges: tax relief.

Tax relief companies work with their clients to analyze their individual financial circumstances, and in many instances can help them to significantly reduce their tax debt. An expert tax relief company has access to a wide variety of tools that can be used in their clients’ benefit: installment agreements, investigation of tax levies and liens, and audit representation and reconsideration, to name a few.

 

Our Views: Despite state budget win, Louisiana is far from creating stable tax structure

Perhaps it is unfair to the Wall Street analysts, but quite often they make us think of the old football movie line, "show me the money." The Legislature has, in the fourth quarter of its session, and ...

Published:  Sat, 21 Jul 2018 18:44:00 GMT



Louisiana Legislature's three special sessions cost over $1.5 million

The Louisiana Legislature spent $1.55 million holding three special sessions in an attempt to pass taxes in 2018, according to information provided by the state House and Senate in response to a publi...

Published:  Fri, 20 Jul 2018 22:17:00 GMT



Everything LA County Voters Need To Know About The Stormwater Tax Now On Their November Ballot

This fall, L.A. County voters will be asked approve a new tax on impermeable land (aka surfaces that don't absorb water). That's money that would go to fund new projects to catch stormwater, clean it ...

Published:  Wed, 18 Jul 2018 14:28:00 GMT



L.A. County votes to put new property tax before voters to clean storm water

Los Angeles County supervisors voted Tuesday to place a property tax before voters in November to raise money for projects to capture and clean storm water. The measure would allow the county to levy ...

Published:  Wed, 18 Jul 2018 01:05:00 GMT



Cutting costs is key to cutting taxes, Louisiana Sen. Milkovich says

Cutting costs is key to cutting taxes, Louisiana Sen. Milkovich says Louisiana State Sen. John Milkovich explains why he voted against the state's new .45-cent sales tax. Check out this story on shrev...

Published:  Thu, 19 Jul 2018 09:07:00 GMT



Tennessee has the highest sales tax in the nation

Tennessee just beat out Louisiana for a new state title: highest sales tax in the U.S. Tennessee has a combined state and local sales tax of 9.46 percent, according to a new report from the Tax Founda...

Published:  Thu, 19 Jul 2018 03:18:00 GMT



Keeping Our Promise: Tax Reform Helps Louisiana Manufacturer Raise Wages and Invest in Facilities

Thanks to tax reform, Complex Chemical Company Incorporated of Tallulah, Louisiana, is hiring more workers, raising wages, and making critical new investments that will help grow their business. Travi...

Published:  Wed, 18 Jul 2018 07:19:00 GMT



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