Tax Credit for Long-Term Care Insurance for Louisiana Residents
8/6/02

Governor Murphy Foster of Louisiana has signed into law a bill letting state residents subtract as much as 10% of tax qualified long-term care insurance premiums from their total state income tax.

The bill received unanimous support in both the House and Senate. Passage of the law constitutes the State's endorsement of Long-Term Care Insurance. Residents who provide for their own long-term care needs are less likely to be a burden on the state in their later years.

Those individuals who plan for their own future long-term care needs will also have more options available than those who depend upon Medicaid, the government's program for the indigent.

Louisiana now joins 21 other states who offer a Credit or Deduction for LTC premiums. A list of these states and their respective long-term care tax incentives follows.

State	Credit/Deduction
Alabama	Deduction
California	Deduction
Colorado	Credit
Hawaii	Deduction
Idaho	Deduction
Iowa	Deduction
Kentucky	Deduction
Louisiana	Credit
Maine	Deduction (individuals) Credit (employees)
Maryland*	Credit
Minnesota	Credit
Missouri	Deduction
Montana	Deduction
New York	Credit
North Carolina	Credit
North Dakota	Credit
Ohio	Deduction
Oregon	Credit
Utah	Deduction
Virginia	Deduction
West Virginia	Deduction
Wisconsin	Deduction

*A credit is available to individuals and employers.