BATON ROUGE, La. (BRPROUD) – The Louisiana Department of Revenue (LDR) announced Monday in a press release that it would begin accepting state income tax filings on January 24, the same date the federal Internal Revenue Service will begin accepting federal income tax filings.
LDR says those that file electronically can expect their returns to be processed within 45 days whereas those who file by mail can expect to their filings to be processed within about 3 and a half months.
LDR encourages taxpayers who have moved or changed their name since filing their previous return to fill out the online address change form.
Though it does not affect this year’s filings, LDR reminded residents that income earned in 2022 will be taxed at a lower rate in the state.
Those in the lowest of Louisiana’s three income tax brackets will see the smallest decrease going from an state income tax rate of 2.00% on money earned last year to 1.85% for 2022. Those who made $12,500 or less in 2021 qualify for the lowest bracket if they are filing as single; married filing separately; or head of household.
Taxpayers in the middle income bracket will pay a rate of 3.50% on money earned this year, down 0.50% from 4.00%. The middle bracket for single filers; married filing separately filers; and head of household filers ranges from $12,501 to $50,000.
Those in the highest income tax bracket, who paid 6.00% in 2021, pay 4.25% in 2022. Single filers; married filing separately filers; and head of household filers who made $50,001 or more qualify for the top bracket.
The 1.75% drop for those in the highest tax bracket is three and a half times the decrease in percentage points taxpayers in the middle bracket will get and more than 11 times the decrease in percentage points that those in the lowest tax bracket will see.
The income bracket thresholds for those who file as married, filing jointly or as a qualified surviving spouse are doubled for all three brackets.
Unless an extension is granted, state income taxes are due May 16, 2022.