A 24-7 Wall Street report shows Louisiana taxpayers are tied for fifth in the least amount of taxes paid to local and state governments. LSU economist Doctor Jim Richardson says this state has been a low tax state for years.
“We're always in the lower four or five or six states when it comes to taxes per capita. Everybody may have a little different way of calculating them but in terms of our ratings, we are typically a low tax state,” said Richardson.
But Richardson says there is some give and take when it comes to taxes paid.
“The only tax that is high is the sales tax and that’s because of low property and income taxes,” said Richardson.
The report shows Louisiana residents pay just 8-percent of their income to state and local governments. Richardson says despite what this report says, many will think they always pay too much in taxes.
“I just think there are people who just don’t want to pay any more taxes and I don’t think this rating will change anything,” said Richardson.
The report shows that state income tax collections per capita is 13th lowest, and property tax collections is 8th lowest.