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Louisiana Folks. I can't find the Homeowner's Insurance Citizens Fair Plain Surcharge deduction. It didn't pop up to ask in the state return this time?

 
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4 Replies
AmyC
Expert Alumni

Louisiana Folks. I can't find the Homeowner's Insurance Citizens Fair Plain Surcharge deduction. It didn't pop up to ask in the state return this time?

No, the provision has expired. According to LA at Citizens Insurance Tax Credit - Louisiana Department of ...

revenue.louisiana.gov › Individuals › CitizensInsurance...

Starting with assessments paid on or after January 1, 2016, and before January 1, 2020, the credit is equal to 25 percent of the assessment paid. ... This is not a credit for the total amount due on your insurance bill. Do not add your insurance premium to the LA Citizens assessments.

 

Insurance had gotten a lot better and I saw fewer people using this the last couple of years. After the 2020 hurricane season we just had, things may change again. LA has not published anything to extend at this point and I don't expect them to  extend.

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Louisiana Folks. I can't find the Homeowner's Insurance Citizens Fair Plain Surcharge deduction. It didn't pop up to ask in the state return this time?

Thanks,  that was driving me nuts looking for the line.

Louisiana Folks. I can't find the Homeowner's Insurance Citizens Fair Plain Surcharge deduction. It didn't pop up to ask in the state return this time?

I was still charged the La Citizens Emergency Assessment for my 2020 Homeowner policy. So does this now mean we are being charged for it but it's not deductible from state taxes?

Louisiana Folks. I can't find the Homeowner's Insurance Citizens Fair Plain Surcharge deduction. It didn't pop up to ask in the state return this time?

I think the answer to your question is yes.  Being charged, but cannot deduct.  There was no question about it on this year's Louisiana Tax Forms.  The above answer seems to be correct.  Hopefully, that will change.

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