Louisiana

Louisiana inheritance tax (R.S. 47:2401-2426) repealed by Act 822 of 2008

“No, Act 822 of the 2008 Regular Legislative Session repealed the inheritance tax law, R.S. 47:2401-2426.”

Note: Source page uses an en dash in the statute range; normalized to a hyphen here per house style, wording unchanged. Same page: 'Effective January 1, 2012, no receipts will be issued for inheritance tax regardless of the date of death.'

Louisiana flat income tax rate is 3.0% for TY2025+ (repealing the prior graduated schedule)

“For taxable years beginning on or after January 1, 2025, a tax is hereby levied upon the Louisiana taxable income of every individual at the rate of three percent.”

Note: Act 11 of the 2024 3rd Extraordinary Session replaced the prior graduated schedule (1.85%/3.5%/4.25%) with a flat 3% rate and repealed the in-state net capital gain deduction. Standard deduction increased to $25,000 MFJ (CPI-indexed from TY2026). Stale-law trap: TY2024 and prior returns use the old schedule.

Louisiana combined personal exemption and standard deduction is $12,500 single / $25,000 MFJ for TY2025 (CPI-indexed from 2026)

“For tax year 2025, the amount of the standard deduction shall be as follows: A. A combined personal exemption and standard deduction in the following amounts: (1) Single Individual and Married-Separate $12,500.00 (2) Married-Joint Return, a Qualified Surviving Spouse, and Head of Household 200% of the dollar amount provided for Single Individuals ... Beginning January 1, 2026, and thereafter, the amount of the standard deduction provided in Subsection A of this Section shall be adjusted annually by... the percentage increase in the Consumer Price Index”

Note: The amount is per filing status, not per taxpayer: $12,500 single/MFS; MFJ, QSS, and HoH get 200% ($25,000). The prior url (Law.aspx?d=102065) resolved to repealed R.S. 47:34, the wrong document; the enrolled Act 11 (2024 3rd Ex. Sess.) is cited instead.

IRC §1212(b): capital losses carry forward only for non-corporate taxpayers; no carryback

“In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.”

Note: IRC §1212(b) limits non-corporate taxpayers to carrying losses forward only ('succeeding taxable year'). IRC §1212(a), which allows a 3-year carryback, applies only to corporations. For conformity states, the federal carryforward amount flows to the state return unchanged.

LA exempts LA-issued bonds; out-of-state muni bond interest is taxable per La. R.S. 47:48

“The amount of interest received upon obligations of the State of Louisiana, or any political or municipal subdivision thereof, to such extent as is now exempt by law shall not be included in gross income.”

Note: La. R.S. 47:48 at legis.la.gov (doc ID 102277). Verbatim statutory text confirmed against live source. The statute exempts interest on Louisiana state and local obligations from gross income. Out-of-state muni bond interest is taxable by negative implication: the exemption is expressly limited to Louisiana obligations. Prior URL (d=98681) resolved to RS 40:600.15 (a repealed statute) and was incorrect.

LA exempts LA-issued bonds; out-of-state muni bond interest is taxable per La. R.S. 47:48

“The amount of interest received upon obligations of the State of Louisiana, or any political or municipal subdivision thereof, to such extent as is now exempt by law shall not be included in gross income.”

Note: La. R.S. 47:48 at legis.la.gov (doc ID 102277). Verbatim statutory text confirmed against live source. The statute exempts interest on Louisiana state and local obligations from gross income. Out-of-state muni bond interest is taxable by negative implication: the exemption is expressly limited to Louisiana obligations. Prior URL (d=98681) resolved to RS 40:600.15 (a repealed statute) and was incorrect.

Louisiana conforms to IRC §1400Z-2 QOZ gain deferral and exclusion

“"Adjusted gross income" means... the adjusted gross income of the individual for the taxable year that is reportable on the individual's federal income tax return.”

Note: Louisiana conformity flows from the federal AGI starting point (La. R.S. 47:293, quoted). No dedicated DOR guidance names §1400Z-2; conformity is structural. The prior url (d=102429) resolved to repealed R.S. 47:648.11, the wrong document. The 2024 repeal of the LT capital gain deduction (RS 47:293(9)(a)(xvii)) introduced recent statutory change; QOZ conformity is unaffected.

Louisiana conforms to IRC §1202 QSBS gain exclusion

“"Adjusted gross income" means... the adjusted gross income of the individual for the taxable year that is reportable on the individual's federal income tax return.”

Note: La. R.S. 47:293 (individual income tax definitions) starts from federal AGI, so federally excluded §1202 QSBS gain never enters the Louisiana base; no addback found. The prior authority (corporate La. R.S. 47:287.701(A)) and url (d=102429, repealed R.S. 47:648.11) were the wrong provisions and are replaced.

Louisiana exempts interest on 'U.S. government obligations' (IT-540 Schedule E Code 01E) but FNMA and FHLMC are not U.S. government obligations; their interest is taxable

“Schedule E, Code 01E: U.S. Government Obligations; Interest income on obligations of the United States government and its agencies.”

Note: The IT-540 Code 01E subtraction is for 'obligations of the United States government and its agencies.' FNMA and FHLMC are GSEs (government-sponsored enterprises), not agencies of the U.S. government; they lack a federal bondholder tax exemption statute (12 U.S.C. §§1719(e), 1723a(c); 12 U.S.C. §1455(a)). Secondary clause from same instructions: 'If the amount is not identified specifically as being from U.S. government obligations, it is taxable and cannot be excluded.' No LDR document names FNMA/FHLMC explicitly; confidence: medium.

Louisiana flat income tax rate is 3.0% for TY2025+ (repealing the prior graduated schedule)

“For taxable years beginning on or after January 1, 2025, a tax is hereby levied upon the Louisiana taxable income of every individual at the rate of three percent.”

Note: Act 11 of the 2024 3rd Extraordinary Session replaced the prior graduated schedule (1.85%/3.5%/4.25%) with a flat 3% rate and repealed the in-state net capital gain deduction. Standard deduction increased to $25,000 MFJ (CPI-indexed from TY2026). Stale-law trap: TY2024 and prior returns use the old schedule.

U.S. Treasury interest exempt from Louisiana income tax: 31 U.S.C. §3124(a) prohibits state taxation of U.S. government obligations

“Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.”

Note: 31 U.S.C. §3124(a) preempts state income taxation of U.S. government obligations. Covers T-bills, T-notes, T-bonds, TIPS, and I-bonds. Most states allow a deduction or subtraction by statute cross-referencing this federal preemption.

FHLB and FFCB bond interest exempt from Louisiana income tax: federal enabling statutes mandate state tax exemption

“Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.”

Note: 12 U.S.C. §1433 (FHLB) and 12 U.S.C. §2023 (FFCB/Farm Credit Act) both mandate state tax exemption for securities issued under their chapters. Contrasts with FNMA (12 U.S.C. §§1719(e), 1723a(c)) and FHLMC (12 U.S.C. §1455(a)) which have no bondholder exemption statute and whose interest is taxable by income-tax states.

Farm Credit Act: notes, bonds, debentures, and other obligations of Farm Credit Banks are instrumentalities of the United States exempt from all State, municipal, and local taxation

“The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).”

Note: 12 U.S.C. §2023 explicitly covers 'the income therefrom' (i.e., interest payments to bondholders), exempting it from all State and local taxation. The only carve-out is federal income tax on the holder. Parallel to 12 U.S.C. §1433 (FHLB Act), which exempts FHLB securities from state taxation. Together §1433 and §2023 mandate state and local tax exemption for both FHLB and FFCB bond interest. Shared across all jurisdictions: a single object reference satisfies buildCitationIndex() identity check.

IRC §1212(b): capital losses carry forward only for non-corporate taxpayers; no carryback

“In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.”

Note: IRC §1212(b) limits non-corporate taxpayers to carrying losses forward only ('succeeding taxable year'). IRC §1212(a), which allows a 3-year carryback, applies only to corporations. For conformity states, the federal carryforward amount flows to the state return unchanged.

Louisiana flat income tax rate is 3.0% for TY2025+ (repealing the prior graduated schedule)

“For taxable years beginning on or after January 1, 2025, a tax is hereby levied upon the Louisiana taxable income of every individual at the rate of three percent.”

Note: Act 11 of the 2024 3rd Extraordinary Session replaced the prior graduated schedule (1.85%/3.5%/4.25%) with a flat 3% rate and repealed the in-state net capital gain deduction. Standard deduction increased to $25,000 MFJ (CPI-indexed from TY2026). Stale-law trap: TY2024 and prior returns use the old schedule.

Louisiana is a community property state: the community regime includes property acquired during marriage by either spouse (La. Civ. Code art. 2338)

“The community property comprises: property acquired during the existence of the legal regime through the effort, skill, or industry of either spouse; property acquired with community things or with community and separate things, unless classified as separate property under Article 2341; property donated to the spouses jointly; natural and civil fruits of community property; damages awarded for loss or injury to a thing belonging to the community; and all other property not classified by law as separate property.”

Note: Louisiana civil law community property system (the 'legal regime') differs from common-law community property states; it is governed by the Civil Code, not a family code statute. La. Civ. Code arts. 2325-2437 govern. Either spouse can opt out of the community regime by matrimonial agreement.

Louisiana flat income tax rate is 3.0% for TY2025+ (repealing the prior graduated schedule)

“For taxable years beginning on or after January 1, 2025, a tax is hereby levied upon the Louisiana taxable income of every individual at the rate of three percent.”

Note: Act 11 of the 2024 3rd Extraordinary Session replaced the prior graduated schedule (1.85%/3.5%/4.25%) with a flat 3% rate and repealed the in-state net capital gain deduction. Standard deduction increased to $25,000 MFJ (CPI-indexed from TY2026). Stale-law trap: TY2024 and prior returns use the old schedule.

Louisiana conforms to the federal capital-loss base; treatment of an imported pre-residency section 1212 carryforward is a structural inference

“The tax to be assessed, levied, collected, and paid upon the taxable income of an individual shall be computed at the rate of three percent on net income.”

Note: URL corrected: the prior d=102065 resolved to R.S. 47:34, not R.S. 47:32; the rate statute R.S. 47:32 (flat 3% per Act 11, 2024 3rd Ex. Sess.) is d=101946. Louisiana computes the tax on the taxable income of an individual, which derives from federal adjusted gross income, so the federal section 1212 capital-loss carryover flows through. Quote verbatim from the live legis.la.gov page. No published guidance addresses the imported pre-residency carryforward, so that application remains a structural inference.