Added Louisiana income tax logic

CHANGELOG.md

@@ -5,6 +5,12 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## [0.1.4] - 2023-09-20 16:00:00
+
+### Added
+
+- Added Louisiana state income tax logic with credits and refunds
+
 ## [0.1.3] - 2023-09-19 12:00:00
 
 ### Added

changelog.yaml

@@ -124,3 +124,8 @@
     - Updates in PR 33 that update the VA tax logic
     - Updates in PR 32 that update the MN tax logic
   date: 2023-09-19 12:00:00
+- bump: patch
+  changes:
+    added:
+      - Added Louisiana state income tax logic with credits and refunds
+  date: 2023-09-20 16:00:00

fiscalsim_us/parameters/gov/states/la/tax/income/agi/subtractions/sources.yaml

@@ -0,0 +1,16 @@
+description: Louisiana allows these subtractions (exemptions) from taxable income
+values:
+  2021-01-01:
+    - us_govt_interest
+    - tax_unit_taxable_social_security
+    - la_state_employee_retirement_benefits
+    - la_state_teacher_retirement_benefits
+    - la_federal_retirement_benefits
+    - la_other_subtractions
+
+metadata:
+  unit: variable
+  label: Louisiana subtractions from income 
+  reference:
+  - title: Louisiana Form IT-540 Schedule F - Refundable credits
+    href: https://revenue.louisiana.gov/TaxForms/IT540iWEB(2022)D1.pdf 

fiscalsim_us/parameters/gov/states/la/tax/income/credits/nonrefundable_p3/nonrefundable_child_care/above_threshold_max.yaml

@@ -0,0 +1,16 @@
+description: Louisiana limits its child and dependent care credit to this maximum amount for filers above the income threshold
+
+values:
+  2006-01-01: 25
+
+metadata:
+  period: year
+  unit: currency-USD
+  label: Louisiana nonrefundable child care credit max above income threshold
+  reference:
+    - title: §297.4. Reduction to tax due; certain child care expenses, part (A)(4)
+      href: http://legis.la.gov/Legis/Law.aspx?d=101769
+    - title: 2022 Louisiana Resident Income Tax Return, page 16-2A
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2022)%20F%20D2.pdf
+    - title: 2021 Louisiana Resident Income Tax Return, page 16-2A
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2021)%20F.pdf

fiscalsim_us/parameters/gov/states/la/tax/income/credits/nonrefundable_p3/nonrefundable_child_care/income_floor.yaml

@@ -0,0 +1,16 @@
+description: Louisiana makes its child and dependent care credit refundable for incomes under the income floor using slightly different logic found in the la_refundable_childcare variable
+
+values:
+  2006-01-01: 25_000
+
+metadata:
+  period: year
+  unit: currency-USD
+  label: Louisiana non-refundable child care credit income floor
+  reference:
+    - title: §297.4. Reduction to tax due; certain child care expenses, part (B)
+      href: http://legis.la.gov/Legis/Law.aspx?d=101769
+    - title: 2022 Louisiana Resident Income Tax Return, page 14,16
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2022)%20F%20D2.pdf
+    - title: 2021 Louisiana Resident Income Tax Return, page 14,16
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2021)%20F.pdf

fiscalsim_us/parameters/gov/states/la/tax/income/credits/nonrefundable_p3/nonrefundable_child_care/income_mult.yaml

@@ -0,0 +1,29 @@
+description: Income multiplier for Louisiana non-refundable child care tax credit
+
+brackets:
+  - threshold:
+      2006-01-01: 25_000
+    amount:
+      2006-01-01: 0.3
+  - threshold:
+      2006-01-01: 35_000
+    amount:
+      2006-01-01: 0.1
+  - threshold:
+      2006-01-01: 60_000
+    amount:
+      2006-01-01: 0.1
+
+metadata:
+  type: single_amount
+  threshold_unit: currency-USD
+  amount_unit: /1
+  period: year
+  label: Louisiana non-refundable child care credit income multiplier
+  reference:
+    - title: §297.4. Reduction to tax due; certain child care expenses, part (A)(2)-(4)
+      href: http://legis.la.gov/Legis/Law.aspx?d=101769
+    - title: 2022 Louisiana Resident Income Tax Return
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2022)%20F%20D2.pdf#page=16
+    - title: 2021 Louisiana Resident Income Tax Return
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2021)%20F.pdf#page=16

fiscalsim_us/parameters/gov/states/la/tax/income/credits/nonrefundable_p3/nonrefundable_child_care/income_threshold.yaml

@@ -0,0 +1,16 @@
+description: Louisiana limits the amount of the non-refundable child care credit for tax units with agi above this limit
+
+values:
+  2006-01-01: 60_000
+
+metadata:
+  period: year
+  unit: currency-USD
+  label: Louisiana non refundable child-care tax income threshold
+  reference:
+    - title: §297.4. Reduction to tax due; certain child care expenses, part (A)(4)
+      href: http://legis.la.gov/Legis/Law.aspx?d=101769
+    - title: 2022 Louisiana Resident Income Tax Return, page 16-2A
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2022)%20F%20D2.pdf
+    - title: 2021 Louisiana Resident Income Tax Return, page 16-2A
+      href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2021)%20F.pdf

fiscalsim_us/parameters/gov/states/la/tax/income/credits/nonrefundable_p3/sources.yaml

@@ -0,0 +1,13 @@
+description: Louisiana provides these non-refundable priority 3 tax credits.
+values:
+  2021-01-01:
+    - la_nonrefundable_childcare
+    - la_other_nonrefundable_p3
+
+metadata:
+  unit: variable
+  label: Louisiana refundable priorty 3 tax credits
+  reference:
+  - title: Louisiana Form IT-540 Schedule J - Refundable credits
+    href: https://revenue.louisiana.gov/TaxForms/IT540iWEB(2022)D1.pdf 
+

fiscalsim_us/parameters/gov/states/la/tax/income/credits/refundable_p2/eitc_mult.yaml

@@ -0,0 +1,16 @@
+description: Multiplier for the amount of the federal EITC that Louisiana allows taxfiliers for a refundable credit
+values:
+  2018-01-01: 0.035
+  2019-01-01: 0.05
+
+metadata:
+  period: year
+  unit: /1
+  label: Louisiana EITC multiplier
+  reference:
+  - title: Louisiana legal code| RS 47:297.8, part (A)
+    href: https://www.legis.la.gov/legis/Law.aspx?d=453085
+  - title: Louisiana State Inncome Tax Form IT-540 2021
+    href: "https://revenue.louisiana.gov/TaxForms/IT540WEB(2021)%20F.pdf"
+  - title: Louisiana State Inncome Tax Form IT-540 2022
+    href: "https://revenue.louisiana.gov/TaxForms/IT540WEB(2022)%20F%20D2.pdf"

fiscalsim_us/parameters/gov/states/la/tax/income/credits/refundable_p2/refundable_child_care/child_age_limit.yaml

@@ -0,0 +1,13 @@
+description: Louisiana allows refundable childcare credit for childcare expenses for children under this age limit
+values:
+  2021-01-01: 13
+
+metadata:
+  period: year
+  unit: year
+  label: Louisiana refundbale childcare age limit
+  reference:
+  - title: Louisiana Resident Income Tax Return Tax Table 2021
+    href: "https://revenue.louisiana.gov/TaxForms/IT540TT%20(2021).pdf"
+  - title: Louisiana Resident Income Tax Return Tax Table 2022
+    href: "https://revenue.louisiana.gov/TaxForms/IT540(2022)%20Tax%20Table.pdf"

fiscalsim_us/parameters/gov/states/la/tax/income/credits/refundable_p2/refundable_child_care/expense_limit.yaml

@@ -0,0 +1,26 @@
+description: Childcare expense limit for Louisiana refundable childcare credit
+brackets:
+  - threshold:
+      2021-01-01: 0
+    amount:
+      2021-01-01: 0
+  - threshold:
+      2021-01-01: 1
+    amount:
+      2021-01-01: 8_000
+      2022-01-01: 3_000
+  - threshold:
+      2021-01-01: 2
+    amount:
+      2021-01-01: 16_000
+      2022-01-01: 6_000
+
+metadata:
+  type: single_amount
+  threshold_unit: child-dependents
+  rate_unit: /1
+  threshold_period: year
+  label: Louisiana refundbale childcare credit income multiplier
+  reference:
+  - title: 2022 Louisiana Refundable Child Care Credit Worksheet
+    href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2022)%20F%20D2.pdf

fiscalsim_us/parameters/gov/states/la/tax/income/credits/refundable_p2/refundable_child_care/income_mult.yaml

@@ -0,0 +1,41 @@
+description: Income multiplier for Louisiana refundable childcare credit
+brackets:
+  - threshold:
+      2021-01-01: 0
+    amount:
+      2021-01-01: 0.5
+      2022-01-01: 0.35
+  - threshold:
+      2022-01-01: 15_000
+    amount:
+      2022-01-01: 0.34
+  - threshold:
+      2022-01-01: 17_000
+    amount:
+      2022-01-01: 0.33
+  - threshold:
+      2022-01-01: 19_000
+    amount:
+      2022-01-01: 0.32
+  - threshold:
+      2022-01-01: 21_000
+    amount:
+      2022-01-01: 0.31
+  - threshold:
+      2022-01-01: 23_000
+    amount:
+      2022-01-01: 0.39
+  - threshold:
+      2021-01-01: 25_000
+    amount:
+      2021-01-01: 0.0
+
+metadata:
+  type: single_amount
+  threshold_unit: currency-USD
+  rate_unit: /1
+  threshold_period: year
+  label: Louisiana refundbale childcare credit income multiplier
+  reference:
+  - title: 2022 Louisiana Refundable Child Care Credit Worksheet
+    href: https://revenue.louisiana.gov/TaxForms/IT540WEB(2022)%20F%20D2.pdf

fiscalsim_us/parameters/gov/states/la/tax/income/credits/refundable_p2/refundable_child_care/mult.yaml

@@ -0,0 +1,13 @@
+description: multiplier for Louisiana  childcare credit (applied to everyone)
+values:
+  2021-01-01: .5
+
+metadata:
+  period: year
+  unit: /1
+  label: Louisiana refundbale childcare multiplier
+  reference:
+  - title: Louisiana Resident Income Tax Return Tax Table 2021
+    href: "https://revenue.louisiana.gov/TaxForms/IT540TT%20(2021).pdf"
+  - title: Louisiana Resident Income Tax Return Tax Table 2022
+    href: "https://revenue.louisiana.gov/TaxForms/IT540(2022)%20Tax%20Table.pdf"

fiscalsim_us/parameters/gov/states/la/tax/income/credits/refundable_p2/sources.yaml

@@ -0,0 +1,14 @@
+description: Louisiana provides these refundable priority 2 tax credits.
+values:
+  2021-01-01:
+    - la_refundable_childcare
+    - la_refundable_school_ready
+    - la_eitc
+    - la_other_refundable_p2
+
+metadata:
+  unit: variable
+  label: Louisiana refundable priorty 2 tax credits
+  reference:
+  - title: Louisiana Form IT-540 Schedule F - Refundable credits
+    href: https://revenue.louisiana.gov/TaxForms/IT540iWEB(2022)D1.pdf 

fiscalsim_us/parameters/gov/states/la/tax/income/exemptions/additional_amount.yaml

@@ -0,0 +1,15 @@
+description: Louisiana allows this exemption from income for each additional exemption past the personal
+values:
+  2021-01-01: 1_000
+
+metadata:
+  period: year
+  unit: currency-USD
+  label: Louisiana additional exemption amount
+  reference:
+  - title: Louisiana Resident Income Tax Return Tax Table 2021
+    href: "https://revenue.louisiana.gov/TaxForms/IT540TT%20(2021).pdf"
+  - title: Louisiana Resident Income Tax Return Tax Table 2022
+    href: "https://revenue.louisiana.gov/TaxForms/IT540(2022)%20Tax%20Table.pdf"
+  - title: Louisiana Laws Revised Statutes, Title 47 — Revenue and taxation, RS 47:294 —  Personal exemptions and credit for dependents, B
+    href: https://www.legis.la.gov/legis/Law.aspx?d=101761

fiscalsim_us/parameters/gov/states/la/tax/income/exemptions/personal_amount.yaml

@@ -0,0 +1,15 @@
+description: Louisiana allows this personal exemption from income
+values:
+  1983-01-01: 4_500
+
+metadata:
+  period: year
+  unit: currency-USD
+  label: Louisiana personal exemption amount
+  reference:
+  - title: Louisiana Resident Income Tax Return Tax Table 2021
+    href: "https://revenue.louisiana.gov/TaxForms/IT540TT%20(2021).pdf"
+  - title: Louisiana Resident Income Tax Return Tax Table 2022
+    href: "https://revenue.louisiana.gov/TaxForms/IT540(2022)%20Tax%20Table.pdf"
+  - title: Louisiana Laws Revised Statutes, Title 47 — Revenue and taxation, RS 47:294 —  Personal exemptions and credit for dependents, A
+    href: https://www.legis.la.gov/legis/Law.aspx?d=101761

fiscalsim_us/parameters/gov/states/la/tax/income/rates/head_of_household.yaml

@@ -0,0 +1,26 @@
+description: Louisiana levies income taxes at these rates for filers who file as head of household.
+brackets:
+  - threshold:
+      2009-01-01: 0
+    rate:
+      2009-01-01: 0.02
+      2022-01-01: 0.0185
+  - threshold:
+      2009-01-01: 12_500
+    rate:
+      2009-01-01: 0.04
+      2022-01-01: 0.0315
+  - threshold:
+      2009-01-01: 50_000
+    rate:
+      2009-01-01: 0.06
+      2022-01-01: 0.0425
+metadata:
+  type: marginal_rate
+  threshold_unit: currency-USD
+  rate_unit: /1
+  threshold_period: year
+  label: Louisiana head of household income tax rates
+  reference:
+  - title: Louisiana Department of Revenue Individual Income Tax
+    href: "https://revenue.louisiana.gov/individualincometax"

fiscalsim_us/parameters/gov/states/la/tax/income/rates/joint.yaml

@@ -0,0 +1,27 @@
+description: Louisiana levies income taxes at these rates for filers who are married filing jointly
+brackets:
+  - threshold:
+      2009-01-01: 0
+    rate:
+      2009-01-01: 0.02
+      2022-01-01: 0.0185
+  - threshold:
+      2009-01-01: 25_000
+    rate:
+      2009-01-01: 0.04
+      2022-01-01: 0.035
+  - threshold:
+      2009-01-01: 100_000
+    rate:
+      2009-01-01: 0.06
+      2022-01-01: 0.0425
+
+metadata:
+  type: marginal_rate
+  threshold_unit: currency-USD
+  rate_unit: /1
+  threshold_period: year
+  label: Louisiana married filing joint income tax rates
+  reference:
+  - title: Louisiana Department of Revenue Individual Income Tax
+    href: "https://revenue.louisiana.gov/individualincometax"

fiscalsim_us/parameters/gov/states/la/tax/income/rates/separate.yaml

@@ -0,0 +1,27 @@
+description: Louisiana levies income taxes at these rates for filers who are married filing separately
+brackets:
+  - threshold:
+      2009-01-01: 0
+    rate:
+      2009-01-01: 0.02
+      2022-01-01: 0.0185
+  - threshold:
+      2009-01-01: 12_500
+    rate:
+      2009-01-01: 0.04
+      2022-01-01: 0.035
+  - threshold:
+      2009-01-01: 50_000
+    rate:
+      2009-01-01: 0.06
+      2022-01-01: 0.0425
+
+metadata:
+  type: marginal_rate
+  threshold_unit: currency-USD
+  rate_unit: /1
+  threshold_period: year
+  label: Louisiana married filing separately income tax rates
+  reference:
+  - title: Louisiana Department of Revenue Individual Income Tax
+    href: "https://revenue.louisiana.gov/individualincometax"