The Tax Foundation has released its annual “Facts & Figures: How Does Your State Compare?” report, which analyzes how states stack up when it comes to their respective tax burdens.
The report doesn’t paint the most beautiful picture for Louisiana, though there are some bright spots. For example, Louisiana’s tax freedom day, meaning how long residents have to work before they’ve earned enough to pay all federal, state and local taxes is April 4. Only Louisiana and Alaska have tax freedom so early in the month; most other states don’t reach tax freedom until a week or two later.
In Louisiana, the state and local tax burden per capita, as a percentage of income, is 7.6%, or $2,950, which makes it among the lowest in the U.S., coming in at No. 45 as of 2012. State tax collections per capita were also No. 37 among the 50 states. It was $2,371 in 2017.
Louisiana also came in second in federal aid as a percentage of state general revenue. In Louisiana, it was 42.7% in fiscal year 2016. Mississippi was No. 1 with 43.3%.
The business climate in Louisiana was 44th, a ranking compiled from five categories including corporate tax, individual income tax, sales tax, unemployment, insurance and property taxes. Read the full report.