Current through Register Vol. 50, No. 9, September 20, 2024
A.
Louisiana Revised Statute
Title 47, Section 287.614(D) provides that the secretary may grant an extension
of time to file a state corporation income and franchise tax return, not to
exceed seven months, from the date the return is due.
1. To obtain a filing extension, the taxpayer
must make the request on or before the tax return's due date.
2. A taxpayer must request a state filing
extension by submitting an electronic application.
3. An electronic application may be submitted
via:
a. the Department of Revenue's web site
at
www.revenue.louisiana.gov/extensions;
b. tax preparation software; or
c. any other electronic method authorized by
the secretary.
B. For taxable periods beginning on or after
January 1, 2022 the secretary shall grant an extension of time to file a state
corporation income and franchise tax return for the same extended period of
time as the taxpayer's federal extension, or six-months, whichever is later,
with no state extension request required.
1.
A taxpayer who files a corporation franchise tax return without a corporate
income tax return is ineligible for a filing extension pursuant to
R.S.
47:612.
2. Taxpayers described under Internal Revenue
Code Section 6072(b) and (d) whose federal due date is after the Louisiana due
date will be considered to have requested a federal extension and shall receive
a six-month extension.
3. Taxpayers
in a federally declared disaster area receiving an extension of time to file
pursuant to Internal Revenue Code Section 7508A will be considered to have
requested a federal extension and shall receive a six-month
extension.
4. A taxpayer must mark
the box on the CIFT-620, Louisiana Corporation Income and Franchise Tax Return,
notating that they have timely applied for a federal extension for the same
taxable period.
a. If approved for a federal
extension, a taxpayer should retain a copy of their approval determination
letter Federal Form 6513, Extension of Time to File, or other material
evidencing that their federal extension has been approved.
b. Failure to obtain an approved federal
extension shall result in the Louisiana extension being null and void and shall
result in delinquent filing penalties being assessed from the original due
date.
i. If a taxpayer requested
reconsideration of a denied federal extension and the extension is subsequently
approved, the taxpayer must attach all documents required by the IRS for
approving the reconsideration request to their return in addition to a
statement from the IRS or the taxpayer that the reconsidered extension request
has been approved.
ii. If a
taxpayer requested reconsideration of a denied federal extension and the
extension request remains denied, the taxpayer must file their return without
further delay and attach the IRS statement informing the taxpayer that their
reconsidered extension request remains denied.
C. Filing Extension Does
Not Extend Time to Pay Tax
1. A filing
extension granted by the secretary only allows for an extension of time to file
the tax return. The extension does not allow an extension of time to pay the
tax due.
2. To avoid interest and
penalty assessments, income and franchise taxes due must be prepaid on or
before the original due date.
AUTHORITY NOTE:
Promulgated in accordance with
R.S.
47:287.614(D) and
1511.