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Get La Dor Cift-401w 2024-2025
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How to fill out the LA DoR CIFT-401W online
Filling out the LA DoR CIFT-401W is essential for organizations to report their unrelated business income for Louisiana tax purposes. This guide will help you navigate each section of the form with clear instructions to ensure accurate and complete submission.
Follow the steps to successfully complete the LA DoR CIFT-401W.
- Click the ‘Get Form’ button to obtain the form and open it in your editing environment. This step allows you to access the worksheet needed for your filing.
- Enter your LA Revenue Account Number in the designated field on the form. This identification number is critical for tracking your organization's tax obligations.
- Provide the name of your organization as it appears on your CIFT-620 form. Correct naming helps maintain consistency across your documentation.
- Indicate the income tax period that the worksheet covers. This should match the reporting period of your CIFT-620 submission.
- Complete Line 1 by entering the federal net unrelated business income. This figure comes directly from the Federal Form 990-T, Part I, Line 5, and will be transferred to your CIFT-620, Schedule F, Line 1.
- If the unrelated business income was generated solely within Louisiana, fill out Schedule F of Form CIFT-620. Transfer the amount from Schedule F, Line 4 to Line 1A of the CIFT-620.
- For income that is sourced both within and outside of Louisiana, complete Schedules D and F of Form CIFT-620. Enter the total from Schedule D, Line 31 to Line 1A on your CIFT-620.
- Proceed to complete Line 2 by calculating Louisiana net unrelated business income before the federal income tax deduction. This is the result of subtracting Lines 1B and 1C1 from Line 1A.
- For Line 3, determine Louisiana income tax following the instructions for Schedule J. Enter the total from Schedule J, Line 4 here as well as on Line 2 of Form CIFT-620.
- After completing all entries, ensure to attach this worksheet and any applicable schedules to your completed Form CIFT-620 before submitting your return.
Start filling out your LA DoR CIFT-401W online today to ensure your compliance with tax requirements.
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.
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