BATON ROUGE, La. (BRPROUD) — Louisiana State Treasurer John Fleming is pushing for the state to get rid of personal income taxes, which currently have a top rate of 4.25%.
He said that other Southern states like Texas, Tennessee and Florida have already done this. These places are attracting businesses and people leaving high-tax states like California and New York. He believes Louisiana isn’t seeing the same growth because it still has a personal income tax.
According to a news release from Fleming’s office, Louisiana’s population has barely grown in the last 12 years, especially compared to other Southern states. Fleming said eliminating the personal income tax would lead to more jobs, investments and economic growth.
Data analysis by financial tech company SmartAsset found that Louisiana’s income tax is a little under average when compared to all 50 states. Average state and local sales taxes, however, are about 9.54%. That’s the second-highest in the country.
Tax Foundation, a …