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Ended .............................................. 1 $ 2. Federal tax refund or credit applicable to the loss (Attach copy of Federal Form 1139, or explanation.) ...... 2 $ 3. Net operating loss available for carryback (Subtract Line 2 from Line 1.) ......................................................... 3 $ 4. Amount of loss utilized in Schedule B (Line 3 below) ......................................................................................... 4 $ 5. Net operating loss available f.

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Domestic Corporations – Corporations organized under the laws of Louisiana must file Form CIFT-620, Louisiana Corporation Income and Franchise Tax return, each year unless exempt from both taxes.

Partners who are Louisiana resident estates and trusts are required to file Form IT-541 to report partnership income. Partners who are themselves partnerships are required to file all applicable Louisiana tax returns.

Corporation Income and Franchise Tax The new tax rates are 3.5% on the first $50,000 of net income, 5.5% on the next $100,000 of net income, and 7.5% on the excess over $150,000. Also, some provisions of Act 389 of the 2021 Regular Session of the Louisiana Legislature became effective.

Any corporation or entity taxed as a corporation for federal income tax purposes meeting any of the following provisions, unless specifically exempted under the provisions of R.S. 47:608, must file a Louisiana corporation franchise tax return: Organized under the laws of Louisiana.

WHO MUST FILE? DOMESTIC CORPORATIONS – Corporations organized under the laws of Louisiana must file an income and franchise tax return (Form CIFT-620) each year unless exempt from both taxes.

The delinquent filing penalty is five percent of the tax due for each 30-day period that the failure to file continues, not to exceed 25 percent of the total tax.

Corporation Income and Franchise Tax The new tax rates are 3.5% on the first $50,000 of net income, 5.5% on the next $100,000 of net income, and 7.5% on the excess over $150,000. Also, some provisions of Act 389 of the 2021 Regular Session of the Louisiana Legislature became effective.

The Net Operating Loss deduction is limited to 72% of net income. A schedule showing the calculation of the loss carryforward must be attached to the return.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232