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LA HB414
Bill
Status
4/3/2025
Primary Sponsor
Jason DeWitt
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AI Summary
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Creates a Louisiana state income tax deduction for overtime compensation (wages for hours worked beyond a 40-hour workweek) equal to the full amount earned by resident individuals
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Creates a state income tax deduction for tip income equal to the full amount earned, including social security tips, allocated tips, and unreported cash/charge tips as documented on IRS Forms W-2 and 4137
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Requires taxpayers to maintain records and provide documentation to the Department of Revenue upon request when claiming either deduction
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Authorizes the Secretary of the Department of Revenue to promulgate rules for implementing the deductions
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Effective January 1, 2026, applicable to taxable years beginning on or after that date
Legislative Description
Exempts certain overtime compensation and income earned from tips from state income taxation (OR DECREASE GF RV See Note)
TAX/INCOME TAX
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
4/14/2025