Louisiana Paycheck Calculator
Calculate your take-home pay after federal & Louisiana taxes
Updated for 2023 tax year on Mar 15, 2023
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Paycheck calculator for Louisiana
Overview of Louisiana
Louisiana has a population of just under 4.7 million (2019) and is known for its unique culture, jazz music, and Mardi Gras. The median household income is $49,973 (2018), and it ranks among the lowest in the United States.
Brief summary:
- the income tax rate ranges from 1.85% to 4.25%
- no local income taxes
- no additional state payroll tax
- no standard deduction
From Wikipedia
Understanding your Louisiana paycheck
Navigating the labyrinth of your Louisiana paycheck can feel like a mystery, but fear not! We’re here to unravel the enigma and help you take control of your personal finances. In this thrilling exploration, we’ll dissect the various elements of your paycheck, from the income tax rate to state exemptions and deductions galore. As we uncover the secrets of your earnings, you’ll be well-equipped to make informed decisions and steer your financial future in Louisiana.
Embarking on a new job or updating your tax information requires completing the W-4 form. This vital document steers your employer through the treacherous waters of federal income tax withholding. By considering your filing status, income, and dependents, the W-4 form ensures smooth sailing. Keep your compass calibrated by updating the W-4 whenever life takes a significant turn or your financial landscape shifts.
Louisiana’s state income tax is another piece of the paycheck puzzle. This progressive tax system scales up as your income rises. But fear not, brave explorer! Louisiana offers a wealth of exemptions to reduce your taxable income. Personal exemptions for yourself, your spouse, and your dependents help to lighten the load. To determine the state income tax withheld from your paycheck, consult the Louisiana Department of Revenue’s income tax rate schedule.
Our adventure continues as we delve into FICA taxes – deductions funding the essential Social Security and Medicare programs. Employees and employers contribute to these crucial social safety nets, typically contributing 7.65% of their wages (6.2% for Social Security and 1.45% for Medicare).
Next, we arrive at pre-tax deductions taken from your gross pay before taxes are calculated. By contributing to retirement plans like 401(k)s and Health Savings Accounts (HSAs), you lower your taxable income and set your course for a secure financial future.
After determining your taxable income, we encounter post-tax deductions. These might include union dues, charitable donations, wage garnishments, and after-tax contributions to retirement accounts. Understanding the deductions that apply to you is crucial, as they affect your net pay.
At the end of our journey, we discover your net pay – the amount deposited into your bank account. Regularly reviewing your pay stubs ensures the accuracy of deductions and offers insight into how your financial choices impact your take-home pay.
Consider contributing to tax-advantaged accounts like 401(k) plans and HSAs to maximize your tax situation. These pre-tax contributions can lower your taxable income, potentially reducing your taxes and bolstering your financial future.
Calculate your Louisiana paycheck
Louisiana tax year starts from July 01 the year before to June 30 the current year. So the tax year 2022 will start from July 01 2021 to June 30 2022.
Calculation of the income tax is similar to the 5 steps listed on our Federal paycheck calculator:
- figure out your filing status
- work out your adjusted gross income [Net income – Adjustments = Adjusted gross income]
- calculate your taxable income [Adjusted gross income – Exemptions = Taxable income]
- understand your income tax liability [Taxable income × Income tax rate = Income tax liability]
- minus any tax liability, deductions, withholdings [Net income – (Income tax liability + Pre-tax deductions + Post-tax deductions + Withholdings) = Your paycheck]
State payroll tax
Some states have payroll taxes such as:
- State Unemployment Insurance (SUI)
- State Disability Insurance (SDI)
- State Family Leave Insurance (FLI)
In Louisiana, your paycheck will only have deductions for federal FICA taxes since the state does not have any additional insurance taxes.
State income tax brackets
The Tax Foundation provides information on tax brackets that are categorized for both single and married filers. For more details on tax brackets, please refer to Tax Foundation.
| Tax year | Filing status | Taxable income | Rate |
|---|---|---|---|
| 2022 | Single Married, Filing Separately Head of Household |
$0 – $12,500 | 1.85% |
| $12,500 – $50,000 | 3.5% | ||
| $50,000+ | 4.25% | ||
| Married, Filing Jointly or Widow(er) | $0 – $25,000 | 1.85% | |
| $25,000 – $100,000 | 3.5% | ||
| $100,000+ | 4.25% | ||
| 2021 2020 |
Single Married, Filing Separately Head of Household |
$0 – $12,500 | 2% |
| $12,500 – $50,000 | 4% | ||
| $50,000+ | 6% | ||
| Married, Filing Jointly or Widow(er) | $0 – $25,000 | 2% | |
| $25,000 – $100,000 | 4% | ||
| $100,000+ | 6% |
State standard deduction
Louisiana does not have a standard deduction.
State exemptions
You can claim yourself and another dependent(s) as an exemption(s). For more information on personal exemptions, please refer to Tax Foundation.
| Tax year | Filing status | Personal exemption amount |
|---|---|---|
| 2022 2021 2020 |
Single Married, Filing Separately Head of Household |
$4,500 |
| Married, Filing Jointly | $9,000 | |
| Dependent | $1,000 each |
FAQs
What taxes do Louisianans pay?
Besides federal income taxes, Louisianans need to pay state income tax ranging from 1.85% to 4.25% depending on the income level. There is no state EITC (payroll tax) such as State Unemployment Insurance (SUI), which is mandatory in some states.
How much do you make after taxes in Louisiana?
If you are single without any dependents with an annual income of $50000, then your yearly paycheck after federal and state income taxes is $40548.25
If you are married without any dependent with a combined annual income of $100000, then your annual paycheck after federal and state income taxes is $81096.50
How many taxes are deducted from a $50,000 paycheck in Louisiana?
The total taxes deducted for a single filer are $787.65 monthly or $363.53 bi-weekly.