Louisiana Income Tax Calculator
Step 1/4

## EstimatedTax Breakup

For \$ Annual income

Monthly

Annual

Brackets

Rates

Income

\$

Deductions

\$

Federal income tax

\$

Louisiana state income tax

\$

FICA tax

\$

Self Employment tax

\$

Total tax

\$

Net pay

\$

## Marginal andaverage tax rate

Average tax rate is the effective tax rate that you incur on your income. If your income is \$100 with 20% average tax rate and 30% marginal tax rate, you pay \$20 in taxes.

Average tax rate is the effective tax rate that you incur on your income. If your income Marginal tax rate is the tax rate on the last dollar that you earned.If your income is \$100 with 20% average tax rate and 30 % marginal tax rate and if you get 1 dollar bonus, you pay 30% tax on that bonus.

Average tax rates measure tax burden, while marginal tax rates measure the impact of taxes on incentives to earn, save, invest, or spend.

W2 employees

Freelancers

W2 employees

Freelancers

Increment percentage

Increased income

Increased net pay

10%

\$

\$

25%

\$

\$

50%

\$

\$

2X

\$

\$

3X

\$

\$

4X

\$

\$

## Summary section

• If you make \$ a year living in the region of Louisiana, USA, you will be taxed \$. That means that your net pay will be \$ per year, or \$0 per month. Your average tax rate is undefined% and your marginal tax rate is undefined%.
• This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of \$100 in your salary will be taxed \$36.13, hence, your net pay will only increase by \$63.87.
How we calculate your income tax

The tax system in the US works on a pay-as-you-go basis, so the IRS collects income taxes throughout the year via payroll. Ideally, if you are a W-2 employee, you automatically get your taxes withheld by your employer. However, as a freelancer, taxes aren’t a cakewalk. They have to pay a bit extra in “self-employment tax” to contribute to Social Security and Medicare.

If you’re a W-2 employee then most likely, your taxes are already being withheld for you by your employer and you typically get a tax refund. Freelancers, self-employed individuals, and business owners have to handle their own taxes including the quarterly estimated tax payments.

Sounds complicated?

Fret not! Apps like FlyFin can help ease your burden.

With FlyFin you can stay on top of your taxes by paying your quarterly estimated obligations and tracking your business expenses. The A.I. calculates your taxes based on several inputs (your profession & income) and detects all possible deductions which ensures an accurate tax amount.

W2 employees

Freelancers

Freelancers using FlyFin

W2 employees

Freelancers

Freelancers using FlyFin