Title 47, Revenue and Taxation
0 chapters · 2,663 sections in this title.
La. Rev. Stat. § 47:287.654 Installment payments of estimated income tax by corporations
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§287.654. Installment payments of estimated income tax by corporations A. Corporations required to pay estimated income tax. Every corporation subject to taxation under this Part shall make payments of estimated tax, as defined in Subsection C, during its taxable year, as provide…
La. Rev. Stat. § 47:287.655 Failure by corporation to pay estimated income tax
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§287.655. Failure by corporation to pay estimated income tax A. Addition to the tax. In case of any underpayment of estimated tax by a corporation, except as provided in Subsection D, there shall be added to the tax under this Part for the taxable year a penalty of twelve percent…
La. Rev. Stat. § 47:287.656 Adjustment of overpayment of estimated income tax by corporation
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§287.656. Adjustment of overpayment of estimated income tax by corporation A. Application of adjustment. (1) Time for filing. A corporation may, after the close of the taxable year and on or before the fifteenth day of the fourth month thereafter, and before the day on which it f…
La. Rev. Stat. § 47:287.657 Estimated tax payments during the course of a federal audit
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§287.657. Estimated tax payments during the course of a federal audit A corporation may make estimated payments to the department, following the process prescribed by the department, of the state tax expected to result from a pending Internal Revenue Service audit prior to the du…
La. Rev. Stat. § 47:287.659 Refunds and credits; general rules
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§287.659. Refunds and credits; general rules Except as otherwise provided in this Part, all matters relating to the refunding or crediting of income taxes shall be governed by the provisions of Part V of Chapter 18 of this Subtitle. Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec.…
La. Rev. Stat. § 47:287.660 Overpayment of installment
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§287.660. Overpayment of installment If the taxpayer has paid as an installment of tax more than the amount determined to be the correct amount of such installment, the overpayment shall be credited against the unpaid installments, if any, and any excess shall be credited or refu…
La. Rev. Stat. § 47:287.662 Overpayment of income taxes applied to corporation franchise taxes for interest computation purposes
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§287.662. Overpayment of income taxes applied to corporation franchise taxes for interest computation purposes The secretary may net any overpayment of income tax by a corporation against the corporation's franchise taxes for the purpose of determining the interest due under R.S.…
La. Rev. Stat. § 47:287.663 Overpayments arising from allowance of deductions for bad debts or worthless stock
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§287.663. Overpayments arising from allowance of deductions for bad debts or worthless stock In the case of an overassessment which arises from the allowance of a deduction for a bad debt or worthless stock which has not been claimed and allowed on a return of the taxpayer for an…
La. Rev. Stat. § 47:287.664 Credits arising from refunds by utilities
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§287.664. Credits arising from refunds by utilities Whenever a utility refunds to its customers, pursuant to an order of a court or regulatory agency as a result of the denial of a proposed rate increase, an amount or amounts which, if taken as a deduction from gross income in th…
La. Rev. Stat. § 47:287.67 Louisiana net income defined
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§287.67. Louisiana net income defined "Louisiana net income" means net income which is earned within or derived from sources within the state of Louisiana. Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
La. Rev. Stat. § 47:287.681 Administration
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§287.681. Administration Except as specifically provided to the contrary in this Part, all matters pertaining to the administration of this Part shall be governed by the provisions of Chapter 18 of this Subtitle. Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
La. Rev. Stat. § 47:287.682 Collection from transferee or fiduciary; procedure
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§287.682. Collection from transferee or fiduciary; procedure A. The liability, at law or in equity, of a transferee of property of a taxpayer, in respect of the tax, including interest, additional amounts, and additions to the tax provided by law, imposed upon the taxpayer by thi…
La. Rev. Stat. § 47:287.683 Notice of fiduciary relationship
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§287.683. Notice of fiduciary relationship A. Fiduciary of taxpayer. Upon notice to the secretary that any person is acting in a fiduciary capacity, such fiduciary shall assume powers, rights, duties, and privileges of the taxpayer in respect of a tax imposed by this Part until n…
La. Rev. Stat. § 47:287.69 Louisiana taxable income defined
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§287.69. Louisiana taxable income defined "Louisiana taxable income" means Louisiana net income after adjustments. "After adjustments" means after the application of the net operating loss adjustment allowed by R.S. 47:287.86. Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1…
La. Rev. Stat. § 47:287.701 Definitions, use of terms and purpose
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§287.701. Definitions, use of terms and purpose A. "Federal law" means the Internal Revenue Code of 1986, as amended, (Title 26 United States Code) and applicable U.S. Treasury Regulations. B. Federal law terms. Except as otherwise provided or clearly appearing from the context, …
La. Rev. Stat. § 47:287.702 Effect of Election Out of Federal Partnership Provisions
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§287.702. Effect of Election Out of Federal Partnership Provisions A. An election made pursuant to I.R.C. (26 USC) Section 761 to exclude an unincorporated organization from the application of all or part of Subchapter K of the Internal Revenue Code shall be binding upon the memb…
La. Rev. Stat. § 47:287.71 Modifications to federal gross income
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§287.71. Modifications to federal gross income A. There shall be added to gross income determined under federal law, unless already included therein, the following items: (1), (2) Repealed by Acts 2005, No. 401, §2. (3) Any gain on the sale of assets not recognized due to the pro…
La. Rev. Stat. § 47:287.73 Modifications to deductions from gross income allowed by federal law
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§287.73. Modifications to deductions from gross income allowed by federal law A. The deductions from federal gross income allowed by federal law shall be modified by the deletions and additions specified herein. B. Deletions. The following deductions allowed by federal law are de…
La. Rev. Stat. § 47:287.732 S corporations
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§287.732. S corporations A. Definitions. As used in this Section, the following words and phrases shall have the meanings ascribed to them in this Subsection unless the context clearly indicates otherwise: (1) "Code" means the Internal Revenue Code of 1986, as amended, and applic…
La. Rev. Stat. § 47:287.732.1 Composite returns for nonresident shareholders
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§287.732.1. Composite returns for nonresident shareholders A. For purposes of this Section, the following terms shall have the meanings ascribed to them in this Subsection: (1) "Composite payment" means a payment filed with a composite return which remits the Louisiana income tax…
La. Rev. Stat. § 47:287.732.2 Election for S corporations and other flow-through entities
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§287.732.2. Election for S corporations and other flow-through entities A.(1) Any S corporation or entity taxed as a partnership for federal income tax purposes may elect to be taxed and to comply with this Part in the same manner as if the entity had been required to file an inc…
La. Rev. Stat. § 47:287.733 Corporations filing consolidated federal returns
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§287.733. Corporations filing consolidated federal returns A. Except as otherwise provided in Subsection B of this Section, when a corporation is included with affiliates in a consolidated federal income tax return in accordance with federal law, the terms and provisions of this …
La. Rev. Stat. § 47:287.734 Domestic International Sales Corporations (DISC's) and Foreign Sales Corporations (FSC's)
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§287.734. Domestic International Sales Corporations (DISC's) and Foreign Sales Corporations (FSC's) A. The federal law classification Domestic International Sales Corporation (DISC) is not cognizable at law in this state. For the purposes of this Part, a DISC under federal law sh…
La. Rev. Stat. § 47:287.736 Real Estate Investment Trusts (REITs)
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§287.736. Real Estate Investment Trusts (REITs) A. The tax imposed by this Part upon corporations shall be imposed upon real estate investment trusts and shall be computed only upon that part of the net income of the real estate investment trust which is subject to federal income…
La. Rev. Stat. § 47:287.738 Other inclusions and exclusions from gross income
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§287.738. Other inclusions and exclusions from gross income A. Inclusion of payments to non-United States companies. Notwithstanding any federal law to the contrary, gross income as defined in R.S. 47:287.61 of this Part shall include rents, salaries, wages, premiums, annuities, …
La. Rev. Stat. § 47:287.741 Special rule for leases
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§287.741. Special rule for leases Special federal rules for leases or finance leases shall be ignored in the determination of gross income, allowable deductions, net income, and Louisiana net income under this Part. For purposes of this Section, "special federal rules for leases …
La. Rev. Stat. § 47:287.743 Deductions from gross income; charges in case of oil and gas wells
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§287.743. Deductions from gross income; charges in case of oil and gas wells A.(1) Option with respect to intangible drilling and development costs incurred by an operator (one who holds a working or operating interest in any tract or parcel of land either as a fee owner or under…
La. Rev. Stat. § 47:287.744 Tax deduction; election; bonus depreciation and amortization
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§287.744. Tax deduction; election; bonus depreciation and amortization A. General. For purposes of computing net income for taxable years beginning on or after January 1, 2025, there shall be allowed a deduction, at the election of the taxpayer, from federal gross income for cost…
La. Rev. Stat. § 47:287.745 Deductions from gross income; depletion
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§287.745. Deductions from gross income; depletion A. In computing net income in the case of oil and gas wells there shall be allowed as a deduction cost depletion as defined under federal law or percentage depletion as provided for in Subsection B, whichever is greater. B. In the…
La. Rev. Stat. § 47:287.746 Adjustments to income and deductions
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§287.746. Adjustments to income and deductions Income and deductions reported under federal law may be increased or decreased to take into account the differences in reporting under prior Louisiana law or due to modifications, such as depletion and intangible drilling and develop…
La. Rev. Stat. § 47:287.747 Situs of stock cancelled or redeemed in liquidation
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§287.747. Situs of stock cancelled or redeemed in liquidation In cases where property located in Louisiana is received by a shareholder in the liquidation of a corporation, the stock cancelled or redeemed in the liquidation shall, for purposes of determining taxable gain under th…
La. Rev. Stat. § 47:287.748 Repealed by Acts 2024, 3rd Ex
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§287.748. Repealed by Acts 2024, 3rd Ex. Sess., No. 5, §3, eff. Jan. 1, 2025. NOTE: See Acts 2024, 3rd Ex. Sess., No. 5, §4, regarding applicability to franchise tax periods beginning on or after Jan. 1, 2026.
La. Rev. Stat. § 47:287.749 Repealed by Acts 2024, 3rd Ex
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§287.749. Repealed by Acts 2024, 3rd Ex. Sess., No. 5, §3, eff. Jan. 1, 2025. NOTE: See Acts 2024, 3rd Ex. Sess., No. 5, §4, regarding applicability to franchise tax periods beginning on or after Jan. 1, 2026.
La. Rev. Stat. § 47:287.75 Computation of net income
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§287.75. Computation of net income The net income of a corporation is computed by subtracting allowable deductions from gross income for a taxable year. Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
La. Rev. Stat. § 47:287.750 Louisiana work opportunity tax credit
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§287.750. Louisiana work opportunity tax credit A. There is hereby authorized a nonrefundable credit for businesses that hire participants in the work release programs provided for in R.S. 15:711, 1111, 1199.9, and 1199.10. B. For the purposes of this Section the following terms …
La. Rev. Stat. § 47:287.751 Reconciliation of transitional differences
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§287.751. Reconciliation of transitional differences A. The secretary is authorized to provide methods for transition and allocation between the requirements of prior law and the requirements of this Part in order that timing differences and other differences in tax accounting su…
La. Rev. Stat. § 47:287.752 Repealed by Acts 2024, 3rd Ex
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§287.752. Repealed by Acts 2024, 3rd Ex. Sess., No. 5, §3, eff. Jan. 1, 2025. NOTE: See Acts 2024, 3rd Ex. Sess., No. 5, §4, regarding applicability to franchise tax periods beginning on or after Jan. 1, 2026.
La. Rev. Stat. § 47:287.753 Neighborhood assistance tax credit
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§287.753. Neighborhood assistance tax credit A. The following words and phrases used in this Section, unless a different meaning is plainly required by the context, shall have the following meanings: (1) "Business firm" means any business entity authorized to do business in the s…
La. Rev. Stat. § 47:287.755 Repealed by Acts 2024, 3rd Ex
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§287.755. Repealed by Acts 2024, 3rd Ex. Sess., No. 5, §3, eff. Jan. 1, 2025. NOTE: See Acts 2024, 3rd Ex. Sess., No. 5, §4, regarding applicability to franchise tax periods beginning on or after Jan. 1, 2026.
La. Rev. Stat. § 47:287.756 Tax credit for environmental equipment purchases
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§287.756. Tax credit for environmental equipment purchases A. Any business entity authorized to do business in the state of Louisiana and subject to the state corporation income tax imposed by this Part, except a corporation classified under the Internal Revenue Code as a Subchap…
La. Rev. Stat. § 47:287.757 Repealed by Acts 2009, No
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§287.757. Repealed by Acts 2009, No. 469, §2, eff. July 9, 2009.
La. Rev. Stat. § 47:287.758 Repealed by Acts 2024, 3rd Ex
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§287.758. Repealed by Acts 2024, 3rd Ex. Sess., No. 5, §3, eff. Jan. 1, 2025. NOTE: See Acts 2024, 3rd Ex. Sess., No. 5, §4, regarding applicability to franchise tax periods beginning on or after Jan. 1, 2026.
La. Rev. Stat. § 47:287.759 Repealed by Acts 2024, 3rd Ex
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§287.759. Repealed by Acts 2024, 3rd Ex. Sess., No. 5, §3, eff. Jan. 1, 2025. NOTE: See Acts 2024, 3rd Ex. Sess., No. 5, §4, regarding applicability to franchise tax periods beginning on or after Jan. 1, 2026.
La. Rev. Stat. § 47:287.77 Computation of Louisiana net income or loss
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§287.77. Computation of Louisiana net income or loss Louisiana net income or loss of a corporation is determined by applying the allocation and apportionment provisions of this Part to the corporation's gross income, allowable deductions, and net income for a taxable year as dete…
La. Rev. Stat. § 47:287.785 Rules and regulations
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§287.785. Rules and regulations A. The secretary is authorized to promulgate, make, and publish reasonable rules and regulations for the purpose of the proper administration and enforcement of this Part and the collection of revenues hereunder. Such rules and regulations shall no…
La. Rev. Stat. § 47:287.79 Repealed by Acts 2021, No
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§287.79. Repealed by Acts 2021, No. 396, §2, eff. Jan. 1, 2022.
La. Rev. Stat. § 47:287.81 Items not deductible; amounts attributable to income not taxed
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§287.81. Items not deductible; amounts attributable to income not taxed In computing Louisiana net income or Louisiana taxable income no deduction shall in any case be allowed in respect of any amount otherwise allowable as a deduction which is attributable to income which, for a…
La. Rev. Stat. § 47:287.82 Corporate deductions; add-back of certain intangible expenses; interest and
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§287.82. Corporate deductions; add-back of certain intangible expenses; interest and management fees A.(1) For purposes of computing a corporation's Louisiana net income, a corporation shall add-back otherwise deductible interest expenses and costs, intangible expenses and costs,…
La. Rev. Stat. § 47:287.83 Repealed by Acts 2021, No
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§287.83. Repealed by Acts 2021, No. 396, §2, eff. Jan. 1, 2022.
La. Rev. Stat. § 47:287.85 Repealed by Acts 2021, No
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§287.85. Repealed by Acts 2021, No. 396, §2, eff. Jan. 1, 2022.