Are pension or retirement benefits taxable in Louisiana?

Yes, pension or retirement benefits are generally taxable in Louisiana. The state follows the federal taxation rules, and as such, income received from pensions or retirement plans is subject to state income tax. This includes income from pensions, annuities, and distributions from employer-sponsored retirement plans such as 401(k)s and IRAs. However, there are certain exceptions and deductions available. For example, military retirement pay is exempt from state tax, as are certain government pensions. Additionally, individuals aged 65 or older may be eligible for a retirement income exclusion of up to $6,000 annually. It is advisable to consult the Louisiana Department of Revenue or a tax professional for specific information regarding individual circumstances and deductions related to retirement benefits taxation in Louisiana.