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LA HB645
Bill
Status
4/22/2025
Primary Sponsor
John Wyble
Click for details
AI Summary
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Individual income tax rate reduces from 3% to 2% for tax year 2027, then to 1.75% beginning January 1, 2028 and thereafter
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Standard deduction for single and married-separate filers increases from $12,500 (2025-2026) to $25,000 (2027) to $50,000 (2028 and thereafter)
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Married-joint, qualified surviving spouse, and head of household filers receive 200% of the single filer standard deduction amount at each tier
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Annual inflation adjustments to the standard deduction based on CPI-U are delayed from 2026 to 2029
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Effective January 1, 2026, applicable to all taxable periods beginning on or after that date
Legislative Description
Reduces the rate of the tax levied on the net income of individuals and increases the amount of the standard deduction for all filers (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.
4/23/2025