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Other changes include a doubled retirement income tax exemption for seniors, raising the threshold from $6,000 to $12,000, and the application of sales taxes to digital goods and services.
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
Including county and city sales taxes, the highest total sales tax as of September 1, 2013, was in Arab, Alabama, 13.50%. [2] Sales tax is calculated by multiplying the purchase price by the applicable tax rate. The seller collects it at the time of the sale. Use tax is self-assessed by a buyer who has not paid sales tax on a taxable purchase.
An extra tax exemption for first responders will decrease the tax revenue available to school systems and other local agencies, many of which won’t have a say on whether to enact the exemption.
It raises the reporting threshold for property, investments, and sales from $2,000 to $5,000 and clarifies exemptions for reporting mutual funds, exchange-traded funds, and certain insurance products.
The Louisiana Public Service Commission (LPSC) [1] is an independent regulatory agency which manages public utilities and motor carriers in Louisiana. The Commission was created by Article IV, Section 21 [ 2 ] of the 1921 Constitution of the State of Louisiana. [ 3 ]
Lawmakers balked at applying sales taxes to more goods and services that are tax-free now, delaying vote until Monday. Louisiana House delays vote on proposal to tax currently exempt goods ...
Louisiana is divided into 64 parishes, which are equivalent to counties, and contains 304 municipalities consisting of four consolidated city-parishes, 64 cities, 130 towns, and 106 villages. [2] Louisiana's municipalities cover only 7.8% of the state's land mass but are home to 46.4% of its population. [1]
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