DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 943 Original 2022 Regular Session DeVillier
Abstract: Reduces the rates for purposes of calculating individual income tax liability and the tax
liability of estates and trusts by .25% of the rate for each bracket of the tax.
Present law provides for a tax to be assessed, levied, collected, and paid upon the taxable income of
an individual at the following rates:
(1)1.85% on the first $12,500 of net income.
(2)3.5% on the next $37,500 of net income.
(3)4.25% on net income in excess of $50,000.
Proposed law reduces individual income tax rates as follows:
(1)From 1.85% to 1.6% on the first $12,500 of net income.
(2)From 3.5% to 3.25% on the next $37,500 of net income.
(3)From 4.25% to 4% on net income in excess of $50,000.
Present law requires the brackets provided for in present law to be doubled in the case of a joint
return filed by a husband and wife.
Present law provides for a tax to be assessed, levied, collected, and paid on the La. taxable income
of an estate or trust at the following rates:
(1)1.85% on the first $10,000 of La. taxable income.
(2)3.5% on the next $40,000 of La. taxable income.
(3)4.25% on La. taxable income in excess of $50,000.
Proposed law changes income tax rates on estates and trusts as follows:
(1)From 1.85% on the first $10,000 of La. taxable income to 1.6% on the first $10,000 of La. taxable income.
(2)From 3.5% on the next $40,000 of La. taxable income to 3.25% on the next $40,000 of La.
taxable income.
(3)From 4.25% on La. taxable income in excess of $50,000 to 4% on La. taxable income in
excess of $50,000.
Proposed law is applicable to taxable periods beginning on or after Jan. 1, 2023.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:32(A) and 300.1)