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What is the limit on Louisiana state employees tax exempt retirement ?
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What is the limit on Louisiana state employees tax exempt retirement ?
According to the state of Louisiana, If you receive a state government pension, the full amount is exempt (there is no limit).
For private pension plans the limit is up to $6,000 can be exempt.
For more information on the types of LA state government pension/retirement income that are fully exempt, please click on this link - LA - Retirement Income
Exemptions
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What is the limit on Louisiana state employees tax exempt retirement ?
I found the following message from Louisiana Department of Revenue's website:
State Employees, Teachers, and Other Retirement Benefits Exclusion —Individuals receiving benefits from certain retirement systems listed below are allowed to exclude those benefits from their Louisiana tax-table income. In addition, for Louisiana individual income tax purposes, retirement benefits paid under the provisions of Chapter 1 Title 11 of the Louisiana Revised Statutes, including disbursements of money from DROP accounts, are exempt from state taxation.
Legal Citations:
R.S. 11:570 Funded Judicial Retirement Plan
R.S. 11:704 Teachers’ Retirement System of Louisiana (TRSL)
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What is the limit on Louisiana state employees tax exempt retirement ?
Yes, if you are a resident of Indiana, you would not file a Louisiana income tax return based on receiving retirement benefits from Louisiana.
If you were filing a Louisiana return, then your retirement benefits would not be taxed. However, since you live in Indiana you will be subject to the Indiana tax laws to determine if your retirement benefits will be taxed by Indiana.
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