Get R-620GIW (7/15) - Rev State La

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.

The amount of Louisiana franchise tax is computed on Form CIFT-620, Schedule F. In the case of a return for part of the year other than the initial or final return, the franchise tax due shall be prorated. To calculate the tax due, the tax for a full year is computed and multiplied by a ratio.

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.

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.

Corporate Franchise Tax is levied at the rate of $1.50 per $1,000 on the first $300,000 of capital stock, surplus, undivided profits and borrowed capital employed in Louisiana. The rate is $3.00 per $1,000 after the first $300,000 with a minimum tax of $10 per year.

You only need to file your personal tax return (Federal Form 1040 and Louisiana Form IT-540) and include your LLC profits on the return. Multi-Member LLC taxed as a Partnership: Yes. Your LLC must file an IRS Form 1065 and a Louisiana Partnership Return (Form 565 for non-residents and Form IT-540 for residents).