BATON ROUGE – The Louisiana Department of Revenue (LDR) has received more than 1 million individual state income tax returns filed electronically, the department announced Thursday. It is the earliest point during a tax filing season that electronically filed returns have crossed the 1 million threshold. By comparison, the state received 1.3 million electronically filed returns in all of 2010. So far, 90 percent of all returns filed in 2011 were submitted electronically.
‘This is a new record,” said Secretary of Revenue Cynthia Bridges. “It tells us that increasing numbers of Louisiana taxpayers appreciate the benefits of electronic filing.
Taxpayers who file electronic returns receive their refunds more quickly than those who file paper returns. The average processing time for electronic returns is 10 days. For paper returns it is 12 to 16 weeks.
For state government, the benefits of electronic filing are significant. The cost of processing paper returns is $1 per transaction. This saves the state more than a million dollars a year.
There are numerous ways to file individual tax returns electronically with the State of Louisiana. The free web-based tax filing application Louisiana File Online is available on the LDR website at www.revenue.louisiana.gov/fileonline. Many commercially available tax filing software packages also offer state filing options.