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May 14, 2012
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Welcome to Louisiana Tax Lawyers.com

 

 
Did You Know?    
 
 
There are tax rules if change in accounting method is made
Generally, the partnership must get IRS consent to change its method of accounting used to report income (for income as a whole or for any material item). To do so, it must file Form 3115, Application for Change in Accounting Method. See Form 3115 and Pub. 538, Accounting Periods and Methods.

 



Tax Law is divided into both Federal Tax and State Tax, and involves the taxation of income and property acquired through personal and professional efforts. In addition to income tax, there is sales tax, gift tax, inheritance tax, capital gains tax, property tax, and a myriad of other areas of tax.

 
Tax collections shown for various States    
 
 
Amounts include adjustments to prior years made in Fiscal Year 2004. This could produce negative amounts of collections shown in the table.However, in a given fiscal year, refunds relating to prior fiscal years may be issued and subsequently recorded, and, therefore, the total refund amount may exceed the collection amount [Money amounts are in thousands of dollars.] in Louisiana
Total Internal Revenue collections [2] 20,340,779
Corporation income tax [3] 854,664
Total [4,5] 19,133,840
Income tax not withheld and SECA tax [4,5] 2,974,185
Income tax withheld and FICA tax [4] 16,085,996
Railroad retirement tax 3,455
Unemployment insurance tax 70,204
Estate Tax 206,612
Gift Tax 14,068
Excise Taxes[2] 131,595

Source: Data 2004, Chief Financial Officer, Revenue Financial Management
 

Federal Income tax became law in 1913 when the Sixteenth Amendment to the U.S. Constitution was ratified. While some states do not have an income tax, all residents and citizens of the United States are subject to federal income tax. The more assets an individual owns, unfortunately, the more complicated the tax law becomes.

Congress writes the tax laws, which become part of the tax code. The Internal Revenue Service (IRS) is charged with interpreting the tax code. The IRS is a branch of the U.S. Treasury Department, with headquarters in Washington, D.C., and is ruled by a commissioner appointed by the President. Regional commissioners and district directors, also political appointees, oversee IRS operations.

Our Louisiana Taxation Lawyers are willing to work for you. They can explain in detail the complex state and federal tax laws that affect you and your case. If you expect a high standard of quality from your legal representatives, then our Louisiana Taxation Lawyers are the lawyers for you.

Taxation and Tax Law related topics:

  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation
  • Corporate Taxation
  • International Taxation

Contact our Louisiana Taxation Lawyer Now!

 
Louisiana Audio & Video    
 
  Senate Republicans Seek End to Estate Tax
AUDIO, RM, 44Kbps, 7:08, 7/28/2005

The Senate is expected to vote this week on a proposal to repeal the estate tax. The tax has been in place for nearly a century. But times have changed and estate tax opponents are predicting victory
Source: NPR
 
 
Louisiana External Sites    
 
 

Louisiana Department of Revenue : Frequently Asked Ques
How does Louisiana tax a corporation that is classified by the IRS as an "S" (small ... If the other state has an income tax no Louisiana w
Louisiana Department of Revenue
Louisiana Department of Revenue Sponsors the 2nd Annual Super Tax Day at the Louisiana ... Stamp Out Fraud, Louisiana. Calculate your Withholding Tax

 


 

  Newsroom  
 


News about Taxation cases in Louisiana and nationwide:

IRS Works With Associations to Help Hurricane-Affected Taxpayers
IR-2006-43, March 13, 2006

WASHINGTON — The Internal Revenue Service announced today an agreement with two tax professional associations to...

Read more >


2004 Tax Law Changes
Education IncentivesThe maximum Tuition and Fees Deduction is $4,000 for those with Adjusted Gross Income (AGI) up to $65,000...
Read more >


IRS Collects $3.2 Billion from Son of Boss; Final Figure Should Top $3.5 Billion
WASHINGTON — The Internal Revenue Service announced today that taxpayers participating in the Son of Boss tax shelter settlement have so far paid i...
Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Limited Liability Company

Definition:
An LLC may be classified for Federal income tax purposes either as a partnership, a corporation, or an entity disregarded as an entity separate from its owner by applying the rules in Regulations section 301.7701-3. See Form 8832, Entity Classification Election, for more details.

Form W-4, Employee's Withholding Allowance Certificate

Definition:
Completed by the employee and used by the employer to determine the amount of income tax to withhold.

Dependent

Definition:
A person, other than the taxpayer or spouse, who entitles the taxpayer to claim a dependency exemption.

More Taxation Terms >

 

Tax Legal Resources

 


Search Taxation legal resources in our resource center:

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Taxation Hot Topics

 
Topics Related to Taxation Law:
  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation

More Tax Topics >

Louisiana Taxation Attorney

 
If you live in the following cities and need an taxation attorney you should contact our Taxation Attorney as soon as possible:

  • Abbeville
  • Alexandria
  • Baker
  • Bastrop
  • Baton Rouge
  • Bogalusa
  • Bossier City
  • Breaux Bridge
  • Chalmette
  • Covington
  • Crowley
  • Denham Springs
  • Deridder
  • Gonzales
  • Gretna
  • Hammond
  • Harvey
  • Houma
  • Kenner
  • La Place
  • Lafayette
  • Lake Charles
  • Leesville
  • Mandeville
  • Marrero
  • Metairie
  • Monroe
  • Morgan City
  • Natchitoches
  • New Iberia
  • New Orleans
  • Opelousas
  • Pineville
  • Prairieville
  • Ruston
  • Shreveport
  • Slidell
  • Sulphur
  • Thibodaux
  • Ville Platte
  • West Monroe
  • Westwego
  • Zachary
 


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