Donanita, Redneck, Louisiana

[Snaggletooth]

Got an imported new customer from Louisiana. Been on the LA website for Revenue and doesn't help a whole lot.

It's my understanding the retirement income is taxable to LA. However, state employees often manage to lobby for favorable tax legislation for THEMSELVES. (Surprise - this doesn't happen anywhere else, does it???)

My question: What if the Retirement income comes from the Louisiana State Retirement System. Is it taxable then?

Thanks to any Louisiana preparers out there....

Snag

[Black Bart]

Didn't

that federal legislation a few years back do away with all the states taxing their retirement pensions to people who had moved out of state?

Here's a few phone numbers:

888-829-3071
225-219-0102 (Baton Rouge)

[Unregistered]

Barts right

You only have to pay taxes to one state on the retirement income and that state should be the state you now live in.

[Snaggletooth]

Funny

Nothing in the Louisiana Revenue website actually mentions that such retirement is exempt. The best they do is tell you there is a $6000 exemption if you are 65 or older.

Of course, won't be the first time the instructions have left out mention of tax breaks.

[Redneck]

Retirement income St of La

Snag
Retirement income from the Louisiana State Retirement System is not taxable to the state of
La. But you do need to tell them by filing a Sch E with the state tax return. Retirement income such as IRA's, non government pensions are taxable but you get a 6000 dollar income reduction if you are over 65, also by filing a Sch E.
Redneck

[SueBaby]

Snag
Retirement income from the Louisiana State Retirement System is not taxable to the state of
La. But you do need to tell them by filing a Sch E with the state tax return. Retirement income such as IRA's, non government pensions are taxable but you get a 6000 dollar income reduction if you are over 65, also by filing a Sch E.
Redneck

Thank you, that is what I was going to say from Farmerville (Rocky Branch), Louisiana.

[Snaggletooth]

Sue Baby

Thanks to those of you who have me with this post. Renfroe -- good to hear from you, have missed you on the board.

I guess the "easy way out" is the fact that these customers moved to Tennessee, and according to an earlier post, Louisiana can't reach out and touch them anymore.

Louisiana has always been an interesting state, but I'm sure 2005 takes the cake. I can't help but wonder how the state is raising Revenue. Friends of mine tell me the Highway Patrol is giving tickets galore to outsiders. Here in the south, states don't want to drive out businesses and people by raising taxes (although it doesn't seem to bother California, Washington, Minnesota, and New England).

Guess we'd rather set up "Yankee Traps" for folks going to Florida and Texas.

[SueBaby]

Thanks to those of you who have me with this post. Renfroe -- good to hear from you, have missed you on the board.

I guess the "easy way out" is the fact that these customers moved to Tennessee, and according to an earlier post, Louisiana can't reach out and touch them anymore.

Louisiana has always been an interesting state, but I'm sure 2005 takes the cake. I can't help but wonder how the state is raising Revenue. Friends of mine tell me the Highway Patrol is giving tickets galore to outsiders. Here in the south, states don't want to drive out businesses and people by raising taxes (although it doesn't seem to bother California, Washington, Minnesota, and New England).

Guess we'd rather set up "Yankee Traps" for folks going to Florida and Texas.

Louisiana, IS a very interesting state. You all should come and visit awhile. Love to have y'all!

[Donanita]

Snag

Glad you got some help from the LA folks.Computer crashed over the weekend(OUCH).Same thing happened about this time last yr.How La is getting more revenue?Have you heard of the Stelly Tax Plan. Have client paying taxes like crazy because of it.Used to be able to use itemized deduction against LA income but got voted out in place of sales tax exemption.Yes LA Retirees.,Fed Retirees,& Teachers's income are exempt for being taxed in LA.In other words everybody pension except mine or so it seems.Oh well back to the computer to plead with it to last until 4-15.
Anita

[veritas]

Which state has the worst tax burden?

I vote for Ohio.