Oct. 12, 2012 05:30

The Louisiana Budget Project has just released a study of individual income-tax exemptions granted by the state and finds that the biggest share of exemptions are claimed by the very wealthiest Louisianans.

The Louisiana Budget Project has just released a study of individual income-tax exemptions granted by the state and finds that the biggest share of exemptions are claimed by the very wealthiest Louisianans.

Of the nearly 2 million state tax payers who filed individual returns in fiscal year 2011 to the tune of more than $422 million in refundable and non-refundable credits, LBP reports, 40 percent were claimed by about 3,300 taxpayers whose annual incomes are higher than $1 million.

Read the full report, titled "Louisiana's Tax Credits Disproportionately Benefit the Wealthy, While Budget Cuts Harm Everyone," here.

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