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July 03, 2009
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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:

Is Estate Tax Reform Dead?
WASHINGTON, D.C. - Senate Republicans' attempt to push through a permanent cut in the estate tax before adjourning was nothing short of a...
Read more >


The Bush Tax Cut
The 2001 tax cut represented a resumption of a number of other trends in tax policy. For example, it expanded the Per Child Tax credit from $500 to...
Read more >


Agreement by State Tax Agencies Targets Abusive Tax Shelters 34 State Tax Agencies Sign Information Sharing Agreement
“These abusive tax shelter schemes depend on dozens of layers of transactions, each one intended to bury the taxable income a little deeper,...
Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Compulsory payroll tax

Definition:
An automatic tax collected from employers and employees to finance specific programs.

Federal Insurance Contributions Act (FICA) Tax

Definition:
Provides benefits for retired workers and their dependents as well as for disabled workers and their dependents. Also known as the Social Security tax.

Employee

Definition:
Works for an employer. Employers can control when, where, and how the employee performs the work.

More Taxation Terms >

 

Tax Legal Resources

 


Search Taxation legal resources in our resource center:

More Resources >

 

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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