Get La Form 1071 2024-2025

Filling out the LA Form 1071 online is a straightforward process designed to help insurance companies report their quarterly tax liability. This guide provides clear instructions on each section and field of the form, ensuring users can complete their filing accurately and efficiently.

Follow the steps to successfully complete the Form 1071 online.

1. Click the 'Get Form' button to obtain the form and open it in your chosen editor. This action allows you to access the form directly for completion.
2. Select the applicable quarter by checking the appropriate box at the top of the form (first, second, or third quarter) and note the due date for submission.
3. Enter your company details, including the company name, mailing address, box or suite number, city, state, zip code, contact person's name, email address, telephone number, and fax number.
4. Provide the state of domicile, federal ID number, NAIC number, and LDI number in the designated fields.
5. Calculate your quarterly tax liability. Start with the 2023 net tax liability from Form 1061, enter it on line 1, and multiply it by 0.25 to obtain the quarterly premium tax due on line 2.
6. If applicable, include any carry-forward credit from the previous year or quarter, enter this value on line 3. If there is a penalty, calculate it as indicated by L.R.S. 22§846, and enter this on line 4.
7. Calculate the total amount due by following the formula: Total amount due (line 5) equals line 2 minus line 3 plus line 4.
8. Indicate your payment method by checking one of the boxes provided for check, bank wire, ACH credit, or not applicable.
9. Once all information has been accurately filled out, save the changes, then download, print, or share the completed form as needed.

Complete your Form 1071 online today to ensure timely submission and compliance with the Louisiana Department of Insurance.