Ad
related to: louisiana initial franchise tax return filing requirements
Search results
Results from the WOW.Com Content Network
The opening of tax filing season is here, and the Louisiana Department of Revenue has issued guideline for expecting returns. Louisiana begins tax season, Here's when you can expect your refund ...
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of capital held by the entity. The franchise tax effectively ...
Returns are also required by partnerships doing business in the state. Many states require that a copy of the federal income tax return be attached to their state income tax returns. The deadline for filing returns varies by state and type of return, but for individuals in many states is the same as the federal deadline, typically April 15.
Tax return laws generally prohibit disclosure of any information gathered on a state tax return. [10] Likewise, the federal government may not (with certain exceptions) disclose tax return information without the filer's permission, [11] and each federal agency is also limited in how it can share such information with other federal agencies. [10]
For businesses, the corporate income tax rate will drop from 7.5% to a flat 5.5%, and the state franchise tax will be eliminated entirely. Originally, Landry's plan proposed a rate of 3.5%.
Louisiana Governor Jeff Landry has called a Special Session on November 6 to overhaul the state's tax system including income and sales tax rates.
More than 70% of taxpayers qualify for assistance filing their taxes through Free File, a program that lets you prepare and send your returns with software from the IRS’s third-party partners ...
State corporate tax return due dates vary, but most are due either on the same date or one month after the federal due date. Extensions of time to file are routinely granted. [85] Penalties may be imposed at the federal and state levels for late filing or non-filing of corporate income tax returns. [86]
Ad
related to: louisiana initial franchise tax return filing requirements