It depends on who issued it. Retirement system benefits that may be excluded from Louisiana income taxAnnual Retirement Income Exclusion—Persons 65 years or older may exclude up to $6,000 of annual retirement income from their taxable income. Taxpayers that are married filing jointly and are both age 65 or older can each exclude up to $6,000 of annual retirement income. If only one spouse has retirement income, the exclusion is limited to $6,000.Federal Retirement Benefits Exclusion—Federal retirement benefits received by federal retirees, both military and nonmilitary, may be excluded from Louisiana taxable income.State Employees, Teachers, and Other Retirement Benefits Exclusion—Individuals receiving benefits from certain retirement systems are allowed to exclude those benefits from their Louisiana tax-table income. In addition, Municipal and State Police Employees Retirement System deferred retirement option plan funds are exempt from state income tax.See http://www.rev.state.la.us/FAQ/Details/1216

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Question

Is a 401k an "Other Qualified Exempt Retirement Benefit", Code 05E?

Forum|Forum|7 years ago
June 4, 2019
2 replies
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MaryK1

Level 11

It depends on who issued it. Retirement system benefits that may be excluded from Louisiana income tax

Annual Retirement Income Exclusion—Persons 65 years or older may exclude up to $6,000 of annual retirement income from their taxable income. Taxpayers that are married filing jointly and are both age 65 or older can each exclude up to $6,000 of annual retirement income. If only one spouse has retirement income, the exclusion is limited to $6,000.
Federal Retirement Benefits Exclusion—Federal retirement benefits received by federal retirees, both military and nonmilitary, may be excluded from Louisiana taxable income.
State Employees, Teachers, and Other Retirement Benefits Exclusion—Individuals receiving benefits from certain retirement systems are allowed to exclude those benefits from their Louisiana tax-table income. In addition, Municipal and State Police Employees Retirement System deferred retirement option plan funds are exempt from state income tax.

See http://www.rev.state.la.us/FAQ/Details/1216

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