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.