If You Think Louisiana’s State Taxes Are High, You’re Right
I think it was Ben Franklin who said that nothing in this life is certain except death and taxes. And nowhere is that truer than here in the Pelican State. The Tax Foundation just released data that ranks Louisiana #1 in the entire country in sales tax. Us Louisianans pay almost a half-cent more than those residing in the second-ranked state. The average rate is is a whopping 9.98%. Remember last year the Legislature added an extra penny to the existing rate of 4 cents because they felt they would have to make bigger cuts in state services if they didn't.
This data is coming out at the same time as a booming national jobs report. Across the country over 227,000 were added which is an encouraging sign that consumers are feeling confident in the nation's economy. (They must not have talked to anyone in Louisiana.)
There is a silver lining to the bad news about our tax ranking: The bill adding the extra cent to the rate has a sunset. That means that unless the Legislature votes to extend it, the bill will expire at the end of 2018. Until then we just have to grin and bear it.