News & Tax Alerts: Tax Alerts – State

LDR Revenue Bulletins Available

Monday, July 6, 2015   (0 Comments)
Posted by: Ann Lupo

July 2, 2015

LDR Revenue Bulletins Available


As your partner in advocacy, LCPA has been in ongoing communications with the Louisiana Department of Revenue (LDR) regarding the administrative process, as well as the other many issues, associated with the execution of the new laws from the 2015 Legislative Session.

LDR has the following worksheets in draft form and plans to soon release the final versions:

  • Nonrefundable Credits Reduction Worksheet (Acts 125) for IT-540, IT-540B or IT540B-NRA
  • Refundable Credits Reduction Worksheet (Acts 125 and 133) for IT-540, IT-540B and IT-540B-NRA
  • Credits for Taxes Paid to Other States Worksheet for IT-540
  • Credits Reduction Worksheet (Acts 125 and 133) for CIFT 620, IT-541 and R-6922

The following Revenue Information Bulletins have been issued:

RIB Title
Enrolled House Bill 549 – Horizontally Drilled Wells and Horizontally Drilled Recompletion Wells – Oil and Natural Gas 7/1 PDF
15-022 R.S. 47:818.22 Motor Fuel Deductions and Discounts 7/1 PDF
15-025 Tax Rebate Reductions Act 126
6/30 PDF
15-024 Net Operating Loss Deduction 6/30 PDF
15-020 Individual Income, Sales and Use, Gasoline, and Special Fuels Taxes
Student Assessment for a Valuable Education (SAVE) Credit Program
6/30 PDF
15-019 Individual Income, Corporate and Franchise Tax Local Inventory Tax and Research Development Tax Credit 6/30 PDF
15-017 Corporation Income Tax Act 123
6/30 PDF
15-023 Changes to Tobacco Tax Law per Act 94 6/29 PDF
15-021 Act 125 – Income and Corporation Franchise Taxes
6/29 PDF
15-018 Act 109 – Requirements for Income Tax Credit for Taxes Paid to Other States 6/29 PDF
15-016 Suspension Of Business Utility Exemptions in Accordance with House Concurrent Resolution No. 8 6/29 PDF
15-015 2015 Annual State Sales Tax Holiday (8/7 & 8/8) 6/24
15-014 "Deauxnut Fairness Act”
6/24 PDF
15-013 Video Poker Clearance Renewal 6/18 PDF
15-011 Enrolled House Bill 629 – Change in the Tax Credit for Conversion of Vehicles to Alternative Fuel Usage 6/18 PDF

Other State Tax News

Louisiana 2013 Federal State Match Questionnaires

LDR has requested we inform you there are taxpayers who filed 2013 Louisiana Individual Income Tax Returns, were subsequently issued Identity Verification Letters, and failed to respond. If the Identity Quiz wasn’t successfully taken or documentation submitted, the 2013 tax return was removed from the period.

When the Federal State Match program was run, these taxpayers appeared to have never filed a 2013 Louisiana Individual Income Tax Return. These taxpayers are now receiving the 2013 Federal State Match Questionnaires.

If you are notified that clients receive these questionnaires, and they did in fact file a 2013 return, they should fax the following documentation to 225.231.6204 with a cover letter indicating the period and the letters, "TRIP”:

  • First two pages of the 2013 Federal income tax return,
  • Copies of W-2s or 1099s, and
  • Driver’s license or other form of identification.

It will not suffice to simply resubmit copies of the 2013 Louisiana tax return that was previously filed.

Update: Louisiana Tax Credit Registry (LAC 61:III.2701 and 2705)

On May 29, 2015, LCPA staff and members with relevant tax experience attended the LDR Policy Services Division Public Hearing regarding the proposed changes to the effective date of the transfer and to the use of transferable credits such as movie and historic credits.

LDR received many of the same written comments from the public. LDR indicated these comments will be seriously considered to the extent it will most likely rewrite and repost the proposed changes with a New Notice of Intent Public Comments and Public Hearing.

LDR offered to have some informal meetings to continue discussions on the issues. LCPA staff and members with relevant tax experience will attend these discussions.

Read the original notice: LAC 61:III.2701 & 2705 – Louisiana Tax Credit Registry.

Questions about the content of this Alert or about our legislative outreach can be directed to Linda Babin.