Louisiana Administrative Code
Title 61 - REVENUE AND TAXATION
Part III - Administrative and Miscellaneous Provisions
Chapter 15 - Mandatory Electronic Filing of Tax Returns and Payment
Section III-1505 - Corporation Income Tax Returns-Electronic Filing Requirements
Universal Citation: LA Admin Code III-1505
Current through Register Vol. 50, No. 9, September 20, 2024
A. Every corporation that files a Louisiana Corporate Income Tax Return shall be required to file the return electronically with the Department of Revenue using the electronic format prescribed by the department as follows.
1. For tax periods beginning on or after
January 1, 2018, every corporation with total assets which have an absolute
value equal to or greater than $500,000 (total assets with a value equal to or
greater than $500,000 or with a value equal to or less than -$500,000) shall
file the return electronically.
2.
For tax periods beginning on or after January 1, 2019, every corporation with
total assets with an absolute value equal to or greater than $250,000 (total
assets with a value equal to or greater than $250,000 or with a value equal to
or less than -$250,000) shall file the return electronically.
3. For purposes of this Section, assets shall
mean:
a. total worldwide assets of the
corporation as reported on Line F of the LA CIFT 620;
b. total assets shall include both tangible
and intangible assets; and
c. total
assets shall be valuated based upon book value which takes into account
depreciation and depletion of assets.
4. Corporations required to electronically
file their Louisiana corporation income tax return may not send paper versions
of any forms to be included as part of their return.
5. This electronic filing mandate applies to
corporations and preparers who file the return on a business entitys
behalf.
B.
1. Failure to comply with this electronic
filing requirement of this section will result in the assessment of a penalty
as provided for in
R.S.
47:1520(B).
2. Waiver of the penalty provided for in
paragraph 1 of this subsection shall only be allowed as provided for in R.S.
471520(B).
AUTHORITY NOTE: Promulgated in accordance with R.S. 47:287.614, 1511, and 1520.
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