Menu

Business Finance

Louisiana Corporate Tax Returns Due May 15th

by Matthew Person on March 1, 2017

Need Tax Assistance?

Who Must File:

All corporations and entities taxed as corporations for federal income tax purposes deriving income from Louisiana sources, whether or not they have any net income, must file an income tax return.

Corporations that obtain a ruling of exemption from the Internal Revenue Service must submit a copy of the ruling to the Department to obtain an exemption.

Rate of Tax

Corporations will pay tax on net income computed at the following rates:

  • Four percent on the first $25,000 of net income
  • Five percent on the next $25,000
  • Six percent on the next $50,000
  • Seven percent on the next $100,000
  • Eight percent on the excess over $200,000

Tax Due Dates

For taxable periods beginning on or after January 1, 2016 returns and payments are due on or before the 15th day of the fifth month following the close of an accounting period (May 15 for a calendar year). For prior periods, returns and payments are due on or before the 15th day of the fourth month following the close of an accounting period ( April 15 for a calendar year).

Person Huff CPA makes Corporate Tax filings a cinch – contact us today to get started with your return.

Contact Person Huff CPA Group

  • This field is for validation purposes and should be left unchanged.

Failure to report health coverage will not cause tax return rejection

February 23, 2017

The IRS announced that it will not reject tax returns just because a taxpayer has not indicated on the return whether the taxpayer had health insurance, was exempt, or made a shared-responsibility payment under Sec. 5000A. The IRS disclosed the change on its webpage, ACA Information Center for Tax Professionals, in response to President Donald […]

Read the full article →

Small Business Tax Deductions in 2017

January 5, 2017

In 2017, many small businesses are eligible for a bigger deduction on equipment purchases, and those that aren’t required to provide health insurance will have an option to help staffers pay for coverage. Additionally, many companies have new filing deadlines for their tax returns, and owners who use their cars for business will get a […]

Read the full article →

What the Affordable Care Act Means for You

December 11, 2016

The Affordable Care Act (ACA): has ushered in the most sweeping regulatory changes to the U.S. health care system since Medicare and Medicaid were passed about 50 years ago. It raises a full range of health care issues, and will continue to do so as provisions take effect through 2020. However, along with potentially increasing […]

Read the full article →

Should Louisiana Raise Taxes Again?

June 13, 2016

Two interesting and related articles this morning – the first from The Advocate regarding a poll about raising taxes during the upcoming Special Session: FULL ARTICLE ON BUSINESSREPORT.COM “Roughly seven in 10 Louisianans, or 72%, believe increasing taxes will keep businesses from relocating to The Bayou State, according to the results of a poll of […]

Read the full article →

Changes to Louisiana Corporate Franchise Law Tax

May 11, 2016

The changes to the Louisiana corporate franchise tax adopted during the Session appear to be potentially more far reaching than the changes to the state sales and use tax. For tax periods beginning on or after January 1, 2017, Act 12 (signed by the Governor and effective March 10, 2016) expands the Louisiana corporate franchise […]

Read the full article →

2016 Tax Deadlines

April 5, 2016

This year, the tax deadline falls on April 18, 2016. That’s the deadline to file personal tax returns (such as Form 1040) with the Internal Revenue Service. Normally, the deadline is April 15th. But this year, April 15th is Emancipation Day, a legal holiday in the District of Columbia. Under a special rule, whenever the […]

Read the full article →

Update: Important Changes To Sales and Corporate Taxes

March 23, 2016

Louisiana recently passed significant changes affecting the application of sales and use tax. These changes go into effect April 1, 2016 and remain in effect for 18 months, ending after June 30, 2018. The temporary taxes include a 1% increase to Louisiana’s 4% sales tax and the lessening of many sales tax exemptions. Louisiana’s state-level […]

Read the full article →

Prevent Tax Refund Fraud By Filing Early

March 1, 2016

The IRS said last Friday that the number of taxpayers whose tax information may have been stolen by computer hackers since 2014 is at least 724,000 — more than double the agency’s previous estimate. The number is more than double the figures the IRS released in August 2015, when it said some 334,000 taxpayers had […]

Read the full article →