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News & Tax Alerts: Tax Alerts – State

Tax filing extensions available for individuals and businesses in flood disaster areas

Wednesday, March 23, 2016   (0 Comments)
Posted by: Ann Lupo

March 23, 2016

Tax filing extensions available for individuals 
and businesses in flood disaster areas

Louisiana taxpayers in areas of the state affected by recent storms and flooding will receive filing extensions for returns for various taxes with due dates between March 8 and July 15, 2016. This includes individual state income tax returns due May 16. 

  • The extended deadline for sales, severance and excise taxes is June 15, 2016.
  • The extended deadline for withholding taxes is June 30, 2016.
  • The extended deadline for individual income, corporation income & franchise and other income taxes is July 15, 2016.

The Louisiana Department of Revenue will waive any late filing penalties, late payment penalties and interest that would otherwise apply. This extension does not apply to any return or amount on which penalty and interest began accruing before March 8, 2016.

Extensions are available to taxpayers whose homes, principal places of business or critical tax records are located in the following parishes declared disaster areas by President Obama: Allen, Ascension, Beauregard, Bienville, Bossier, Caddo, Calcasieu Caldwell, Claiborne, DeSoto, Grant, LaSalle, Livingston, Madison, Morehouse, Natchitoches, Ouachita, Richland, St. Tammany, Tangipahoa, Union, Vernon, Washington, Webster, West Carroll, and Winn.

If additional parishes are added to the disaster declaration, they will receive the same relief.

For more information, including the complete list of taxes and due dates eligible for this filing extension, read Revenue Information Bulletin 16-010: Tax Relief to Individuals and Businesses Affected by Louisiana Severe Storms and Flooding.


Join us for a free webcast for Louisiana Chambers of Commerce and their members!

Louisiana Special Session Sales Tax Changes Impacting Businesses
Wednesday, March 30, 1:00 – 2:15 pm

The recent Extraordinary Legislative Session ended with significant changes to the state’s sales and use tax system, which will impact businesses of all sizes and in a broad range of industries. Get an up-to-the-minute recap of the state and local tax legislation changes – many of which go into effect April 1 – and learn how they may impact you and your business.

This program will cover changes to the following, including rates, effective dates, expiration dates, and any exemptions:

 

  • Corporate Income Tax Rate Change and FIT Deduction
  • Hotel Tax (and the expansion of the definition of "hotel” to include short-term rentals, like Airbnb/VRBO)
  • Car Rental Tax
  • Remote Sellers Nexus (Internet Sales Tax)
  • Net Operating Loss Deductions
  • Bank Income Dividend Exclusion
  • Transferable and Refundable Tax Credits
  • Franchise Tax Expansion
  • Enterprise Zone Changes
  • Tobacco and Alcohol Tax
  • Telecommunications Tax
  • And more…
This program has been requested by several Chambers of Commerce and will focus on the changes impacting businesses. Please feel free to invite your business clients to participate.

 

    Questions about the content of this Alert should be directed to Linda Babin.


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