La. Admin. Code tit. 32 § VII-1501
Current through Register Vol. 50, No. 8, August 20, 2024
Section VII-1501 - Tax Treatment of Amounts DeferredA. It is intended that pursuant to IRC §457, the amount of deferred compensation shall not be considered current compensation for purposes of federal and state income taxation. This rule shall also apply to state income taxation unless applicable state laws provide otherwise. Such amounts shall, however, be included as compensation to the extent required under the Federal Insurance Contributions Act (FICA). Payments under this plan shall supplement retirement and death benefits payable under the employer's group insurance and retirement plans, if any.La. Admin. Code tit. 32, § VII-1501
Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 24:1970 (October 1998), amended LR 28:1501 (June 2002).AUTHORITY NOTE: Promulgated in accordance with R.S. §42:1301-1308 and IRC §457.