Louisiana Income Tax Brackets and Rates The Louisiana Department of Revenue oversees a five-bracket system that applies to ordinary income from wages, salaries, and taxable interest. Current 2024 Tax Brackets Taxable Income Tax Rate $0 to $12,500 0% $12,501 to $25,000 1% $25,001 to $37,500 2% $37,501 to $62,500 4% $62,501 to $112,500 6% Over $112,500 6.
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Example Calculation for a Single Filer Imagine a taxpayer earning $50,000 annually. For the current year, this deduction is set at a specific amount per person.
The brackets are structured to tax different portions of your income at corresponding rates. This means you do not tax your entire income at the highest bracket; instead, you tax each segment of income according to the bracket it falls into.
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A married couple filing jointly effectively doubles the income thresholds of the single filer brackets, which can result in substantial savings. The following $12,500 (from $25,001 to $37,500) is taxed at 2%, yielding $250.
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