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Louisiana among 29 states that maintains personal income tax exemptions

Source: thehayride.com - Jul 2, 2019

Louisiana is one of 29 states that maintains personal income tax exemptions despite these exemptions being suspended by the 2017 Tax Cuts and Jobs Act at the federal level, according to a Tax Foundation analysis.

In the wake of the 2017 federal reforms, six states – Idaho, Utah, Colorado, New Mexico, North Dakota and Missouri – eliminated their personal exemptions for income taxes, according to the analysis. Conformity tax code at the state level simplifies tax-preparation requirements and reduce the chances of ambiguities and complexities, it notes.

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Category: General Business