If you’re expecting a state income tax refund, you can choose direct deposit, a paper check, or the Louisiana MyRefund Card.
BATON ROUGE – The Louisiana Department of Revenue (LDR) has distributed more than half a billion dollars in individual state income tax refunds to Louisiana taxpayers for the 2011 tax year.
As of Friday, April 20, the total of individual income tax refunds was $534,031,761.11. The average refund amount was $438.12.
“We’re processing returns faster, getting taxpayers their money back faster, and doing it at less cost to the state than ever before,” said Secretary of Revenue Cynthia Bridges. “This is due, in large part, to the growing use of electronic and online filing.”
To date, LDR has processed more than 1.5 million individual income tax returns that were filed electronically. This is ten weeks earlier than the same benchmark was reached in 2011.
Electronic filing methods include LDR’s free online filing system, Louisiana File Online, and a variety of commercially available software applications.
Seventy percent of this year’s refunds, $374.6 million, have been distributed via direct deposit. Direct deposit is available only to taxpayers who file their taxes electronically. It is the fastest, most secure method of refund distribution.
The next largest amount of refunds went out via the Louisiana MyRefund Card, a pre-paid debit card used to distribute refunds mostly to taxpayers who file paper returns. Taxpayers have received $134.2 million through the MyRefund Card program.
Taxpayers receiving paper checks have received $25.1 million in refunds for this tax season.
Louisiana taxpayers receive $420 million in state income tax refunds; Over 1 million refunds issued through MyRefund Card and Direct Deposit
BATON ROUGE – The Louisiana Department of Revenue (LDR) has issued more than 1 million individual income tax refunds for income tax returns submitted for the 2011 tax year.
As of Thursday, April 05, 2012, LDR had issued 1,012,143 individual income tax refunds for a total amount of $419,965,483.23. The average refund amount is $414.93. This is one week earlier than the department crossed the million-refund threshold in 2011. “We are pleased that we have been able to process refunds more quickly this year. This is due in large part to an increasing number of taxpayers who have taken advantage of our electronic filing options,” said Secretary of Revenue Cynthia Bridges.
Ninety-one percent of Louisiana individual income tax refunds processed so far were submitted electronically via methods such as Louisiana File Online and commercial tax preparation software. The remaining nine percent were filed with the printed state income tax return.
So far, 65 percent of this year’s refunds were distributed via direct deposit and 35 percent via the Louisiana MyRefund Card or check.
“Although the majority of recipients seem to be embracing the MyRefund Card, direct deposit still remains the fastest and most popular method for Louisiana taxpayers to receive their refunds,” Secretary Bridges said.