SLS 23RS-314 ORIGINAL
2023 Regular Session
SENATE BILL NO. 121
BY SENATOR FOIL
TAX/INCOME/PERSONAL. Provides for an individual income tax exemption for all
annual retirement income of individuals sixty-five years of age or older. (8/1/23)
1 AN ACT
2 To amend and reenact R.S. 47:44.1(A), relative to the individual income tax; to provide
3 relative to the exemption for annual retirement income; to provide an exemption for
4 all annual retirement income; to provide for an effective date; and to provide for
5 related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:44.1(A) is hereby amended and reenacted to read as follows:
8 ยง44.1. Annual retirement or disability income; exemption from taxation
9 A. Six thousand dollars of All annual retirement income which is received
10 by an individual sixty-five years of age or older shall be exempt from state income
11 taxation. "Annual retirement income" is defined as pension and annuity income
12 which is included in "tax table income" as defined in R.S. 47:293. This Section shall
13 not affect the status of any income which is exempt from state income taxation by
14 law.
15 * * *
16 Section 2. The provisions of this Act shall be applicable to taxable periods beginning
17 on or after January 1, 2024.
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 121
SLS 23RS-314 ORIGINAL
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Curry Lann.
DIGEST
SB 121 Original 2023 Regular Session Foil
Present law provides for an individual income tax exemption for $6,000 of annual retirement
income which is received by an individual sixty-five years of age or older.
Proposed law changes the present law exemption from $6,000 of annual retirement income
to all annual retirement income and otherwise retains present law.
Applicable for taxable periods beginning on or after January 1, 2024.
(Amends R.S. 47:44.1(A))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.