News & Advocacy Alerts: Advocacy Alerts

LDR Severance Tax Extensions; Treasurer asks, "Do you have Unclaimed Property?"

Thursday, April 23, 2020  
Posted by: Ann Lupo

RIB 20-011 Severance Tax Extensions

The February 2020 monthly oil and gas severance tax return, payment, and report is due on April 25, 2020. The filing and payment deadline for this monthly severance tax period is extended to June 25, 2020. This is an automatic extension and no extension request is necessary.

This extension does not apply to severance tax returns, payments, or reports due on any other dates.

Read the full RIB 20-011.

COVID-19: Louisiana State Tax Filing and Payment Extensions
Last updated April 23, 2020

Due to the COVID-19 public health emergency, the Louisiana Department of Revenue (LDR) has extended the filing and payment due dates for several state taxes. The chart provides details on eligible tax types and links to the relevant Revenue Information Bulletins.

View the COVID-19 Related Tax Extension Chart.

Revenue Ruling 20-002 

LCPA provided this ruling to members in previous alerts. It was issued March 30, 2020, to provide guidance and relief provisions relative to income tax, as follows:

  1. Safe harbor provision for declaration payments for the 2020 tax year;
  2. Allowance for late-filed elections for pass-through entity tax; and
  3. Extension of time to acquire tax credit or execute a binding agreement to transfer a tax credit.

Read Revenue Ruling 20-002.

Do you have Unclaimed Property?

Louisiana State Treasurer John M. Schroder reminds us there is more than $880 million in Unclaimed Property to return. Louisiana Treasury has been using technology to find the rightful owners of this money. Through data matches, Treasury is able to update addresses and issue checks for money that many recipients didn't even know existed.

In these challenging times, show clients, employees, and friends how to find out if there is available cash waiting for them.

Search for Unclaimed Property.

Questions about the content of this Alert should be directed to LCPA State Government Relations Director Linda Babin.