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Get La Dor Cift-620 2022-2025
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How to fill out the LA DoR CIFT-620 online
This guide provides clear instructions on how to complete the LA Department of Revenue CIFT-620 form online. The CIFT-620 form is crucial for corporations filing income and franchise taxes in Louisiana, and this guide aims to simplify the process for users of all experience levels.
Follow the steps to successfully complete and submit your form.
- Click the ‘Get Form’ button to access the CIFT-620 form in the online editor.
- In the first section, enter your LA revenue account number. Note that this is not your federal employer identification number (FEIN).
- In the second section, mark the appropriate checkboxes if applicable, such as for name or address changes, filing an amended return, or if this is your first time submitting this form.
- Provide details for income tax and franchise tax returns for the years required, indicating whether you are filing for a calendar or fiscal year.
- Complete the computation sections by entering total business income, expenses, and any relevant adjustments according to the respective fields.
- Review the fields for any nonrefundable or refundable tax credits, ensuring you cross-reference with the appropriate schedules attached.
- Fill in the information pertaining to specific corporate details, such as the entity type, ownership percentages, and relevant ratios pertaining to apportionment.
- After completing all sections, carefully review your entries for accuracy.
- Once satisfied with your form, save your changes. You can download, print, or share your completed form as needed.
Take the next step and complete your LA DoR CIFT-620 form online now.
Observation: NOLs now can be carried forward indefinitely by corporations until the loss is fully recovered. Of note, Louisiana has not updated R.S. 47:287.86(A), which limits an NOL deduction to the lesser of 72% of taxable income or 72% of the NOL carryforward.
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