Tax Topics

BATON ROUGE – The deadline for filing 2012 Louisiana Individual Income Tax returns is Wednesday, May 15. 

The Louisiana Department of Revenue (LDR) recommends all taxpayers file their returns electronically.  Electronic filing methods include commercially-available tax preparation software, and Louisiana File Online, LDR’s free tax filing web application. Through Louisiana File Online you can file a return, make a payment and upload scanned receipts and other supporting documentation. Visit www.revenue.louisiana.gov/fileonline.

The average refund processing time for electronic returns is ten business days.  For paper returns it is 12 to 16 weeks.

Taxpayers needing more time to prepare their 2012 individual state income tax returns must submit an extension request by the May 15 filing deadline to avoid late-filing penalties.  An extension allows only more time to file a return. It does not allow more time to pay. Visit www.revenue.louisiana.gov/extensions.

BATON ROUGE – Louisiana residents can save money on flashlights, batteries, generators and other emergency supplies during the 2013 Louisiana Hurricane Preparedness Sales Tax Holiday on Saturday, May 25, and Sunday, May 26.

The 2013 Atlantic Hurricane Season begins on June 1. Meteorologists predict an active season with 18 named storms, nine hurricanes and four major hurricanes.[i]

“We encourage everyone to get prepared now,” Louisiana Department of Revenue Executive Counsel Tim Barfield said.  “This is a chance to save money while helping to keep your family safe and comfortable during and after a hurricane. Don’t wait until there’s a storm coming, or until one has struck.”

The sales tax holiday exempts eligible items from the 4 percent state sales tax. The exemption applies to the first $1,500 of the purchase price of each item.

Eligible purchases include:

• Self-powered light sources, such as flashlights and candles
• Portable self-powered radios, two-way radios, and weather-band radios
• Tarpaulins or other flexible waterproof sheeting
• Ground anchor systems, straps or tie-down kits
• Gas or diesel fuel tanks
• Batteries, sizes AAA, AA, C, D, 6-volt, or 9-volt (Automobile batteries and boat batteries are ineligible)
• Cellular phone batteries and chargers
• Non-electric food storage coolers
• Portable generators
• Storm shutter devices (Materials and products manufactured, rated, and marketed specifically for the purposes of preventing window damage from storms)
• Carbon monoxide detectors
• “Blue Ice” (and similar re-usable cooling products)

The exemption applies only to the 4 percent Louisiana state sales tax.  Local taxes apply unless specifically exempted by local taxing authorities.

Visit www.revenue.louisiana.gov/hurricaneprep for more information.

BATON ROUGE – As the May 15 state individual tax filing deadline approaches, the Louisiana Department of  Revenue (LDR) reminds taxpayers of procedures that can speed up their refunds and eliminate the possibility of late payment penalties.

“The most important thing you can do to ensure a speedy refund is to file your taxes electronically,” says LDR Executive Counsel Tim Barfield.

Taxpayers who file electronically can expect their refunds in an average of ten business days.  Paper filers can expect to wait as long as four months. Electronic filing methods include Louisiana File Online (www.revenue.louisiana.gov/fileonline) and commercially-available tax preparation software.

Taxpayers who owe taxes are encouraged to pay electronically.  Electronic payments can be made through Louisiana File Online.

If paying by check or money order, taxpayers must use the proper payment vouchers to ensure that payments are posted to the correct account.  Failure to include the proper payment voucher can lead to penalties.

BATON ROUGE – The East Baton Rouge Parish School Board on Thursday, April 18, will honor the Louisiana Department of Revenue (LDR) for ten years of partnership and service to Baton Rouge’s University Terrace Elementary School.  Every year, LDR holds numerous fundraisers to raise money for school supplies, books, toys, clothes, and classroom equipment for the school and its students.

LDR’s partnership with University Terrace began in the 2002-2003 school year, in coordination with the nonprofit organization Volunteers in Public Schools (VIPS). 

LDR employees collect goods and raise money for University Terrace through holiday toy and clothing drives; collecting Box Tops for Education, Community Coffee coupons, and ink and toner cartridges (Project Green); and special dress-down days, for which employees donate money for the privilege of dressing casually several days a month. 

Service projects have included playground renovations and 5th grade graduation receptions. 

Since the partnership began, LDR employees have donated or collected $33,500 to benefit the school.

VIPS’ Partners in Education Coordinator, Kimberly Levy-Marcelle, will recognize LDR’s service to University Terrace during the Thursday, April 18, meeting of the East Baton Rouge Parish School Board.

BATON ROUGE – Hundreds of thousands of Louisiana families with low to moderate incomes can increase their state tax refunds with the Louisiana Earned Income Tax Credit. More than 400,000 taxpayers claimed this refundable tax credit in 2012 for an average benefit of $100.

The state earned income credit is equal to 3.5 percent of the federal EITC. For the 2012 tax year (federal returns due April 15, 2013), the maximum amount of the federal EITC is:

• $5,891 with three or more qualifying children
• $5,236 with two qualifying children
• $3,169 with one qualifying child
• $475 with no qualifying children

And the income thresholds for the federal EITC are:

• $45,060 ($50,270 married filing jointly) with three or more qualifying children
• $41,952 ($47,162 married filing jointly) with two qualifying children
• $36,920 ($42,130 married filing jointly) with one qualifying child
• $13,980 ($19,190 married filing jointly) with no qualifying children

To calculate the amount of the Louisiana earned income credit, multiply the federal EITC amount by .035, or 3.5 percent.  Some examples:

 Claim the state earned income credit on Line 21 of the Louisiana Resident Individual Income Tax Return in the section titled “Refundable Tax Credits.”

2012 Louisiana Individual Income Tax returns are due May 15, 2013.

Department of Revenue does not accept paper extension requests

BATON ROUGE – PAR’s assumptions are erroneous. I have met with the members of PAR and shared with them the core data of this plan. PAR’s analysis does not take into account all the data used by the Louisiana Department of Revenue. We have always maintained that we used 2011 Fiscal Year data as a starting point for our analysis, but we have not stopped there. A standard approach to estimate the future is to begin with the best data as of today. This we have done, but only as the starting point. The Legislative Fiscal Office and other economic experts agree with our methodology. Our revenue projections will extend to FY 2014-2015 and will be revenue neutral. Again, we have shared our data and methodology with PAR on multiple occasions, and we will continue to do so throughout this process.

Tim Barfield
Executive Counsel
Louisiana Department of Revenue

BATON ROUGE – Louisiana taxpayers can go online to check the status of their state income tax refunds. 

Visit the “Where’s My Refund?” page at www.revenue.louisiana.gov/refund and enter four pieces of information:

• Social Security Number
• Tax Year
• Filing Status
• Anticipated Refund Amount

Taxpayers who file paper returns should allow 12-16 weeks before checking the status of their refunds.

Information on electronic returns is available in an average of ten business days.

Taxpayers can also call the “Where’s My Refund?” automated phone line at 888-829-3071.