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Back-to-school tax holiday announced

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Posted: Jul 25, 2014 4:42 PM by Russell Jones
Updated: Jul 25, 2014 4:42 PM
Source: WBRZ

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Topics: back to school, tax holiday, school tax holiday, tax deductions

BATON ROUGE - The Louisiana Department of Revenue released details about this year's back-to-school tax holiday on Aug. 1 and 2.

Most retails purchases on those days will be exempt from the state's 4 percent sales tax. LDR said parents may not also realized those expenses, and similar purchases made the rest of the year, may also qualify for a series of income tax deductions on state tax returns.

To qualify, you must be able to claim the student as a dependent on your state individual income tax return, and you must be able to document the expenses.

There are three income tax breaks under the Louisiana School Tuition and Expense Deductions:

Income Tax Deduction for Elementary and Secondary School Tuition - Allows an income tax deduction for amounts paid during the year for tuition and fees at a qualifying nonpublic elementary or secondary school. The deduction is for 100 percent of qualified expenses paid per dependent, limited to $5,000 per dependent.

Income Tax Deduction for a Quality Public Education - Allows an income tax deduction for the following expenses for a dependent enrolled in a public elementary or secondary school:

  • Purchases of school uniforms required by schools for general day-to-day use
  • Purchases of textbooks, curricula or other instructional materials required by schools
  • Purchases of school supplies required by schools

The deduction is for 50 percent of qualified expenses paid per dependent, limited to $5,000 per dependent.

Income Tax Deduction for Home-Schooling Expenses - Allows an income tax deduction for amounts paid for the purchase of textbook and curricula necessary for home-schooling. The deduction is for 50 percent of qualified expenses paid per dependent, limited to $5,000 per dependent.

Visit the Department of Revenue's website for more information.

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