Saturday, July 20, 2024

IRS data shows Louisiana lost more than 26K residents in 2022

by BIZ Magazine

(The Center Square) — The latest data from the U.S. Internal Revenue Service shows Louisiana losing more than 26,000 residents during tax year 2021-2022.

Louisiana was 44th in population growth, ranking only above California, New York, Illinois, Massachusetts, New Jersey and Maryland. The net loss accounted for 0.57% of the state’s population.

Even more residents migrated out of the Pelican State in tax year 2020-2021, a little over 28,000 in net loss. The total population dip in Louisiana over the three years from 2019-2022 was upwards of 75,000.

Texas benefitted the most from Louisiana’s migration patterns, with over 30,000 individuals moving to the Lone Star State. A combined 50,000 individuals moved to Texas in the last two years. California was one of the few states to lose population to Louisiana, with about 600 more people moving east than left for the Golden State.

Total adjusted gross income lost in the population dip was more than $882 million which was 37th amongst states. Net loss as a percentage of total adjusted gross income was 0.8%, 41st amongst states. The total adjusted gross income loss was over $2.3 billion between 2019 and 2022.

Texas accounted for over $300 million of Louisiana’s outgoing adjusted gross income migration in 2021-2022 and Florida accounted for another $220 million. California residents leaving for Louisiana generated a net positive adjusted gross income migration of around $24 million.

Louisiana’s 44th ranking is well below its Southeast neighbors, with Mississippi being the only other state that decreased in population (512 fewer residents). Alabama, Florida, Georgia, Texas, Tennessee and South Carolina all finished in the top 10, and Florida and Texas finished in the top two.

Florida and Texas also ranked first and second in adjusted gross income, Florida gaining almost $36 billion and Texas pulling in a little over $10 billion.

California was the biggest loser according to the data, with more than 307,000 residents worth more than $23 billion in adjusted gross income leaving for other states.

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