Louisiana Revised Statutes 47:609 – A. The tax levied by this Chapter is for the annual accounting period, fiscal, or calendar year, regularly used by the taxpayer in keeping its books, with no proration for a portion
Terms Used In Louisiana Revised Statutes 47:609
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: shall mean a domestic corporation or foreign corporation as provided for in this Section. See Louisiana Revised Statutes 47:601
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fiscal year: as used in this Chapter , means an accounting period of twelve months ending on the last day of any month other than December. See Louisiana Revised Statutes 47:613
A. The tax levied by this Chapter is for the annual accounting period, fiscal, or calendar year, regularly used by the taxpayer in keeping its books, with no proration for a portion of the year in the case of dissolution of domestic corporations or withdrawal from the state by foreign corporations, or where a corporation otherwise ceases to become taxable under this Chapter. The tax is due on the first day of each calendar or fiscal year and annually thereafter and is computed on the basis of the previous calendar or fiscal year closing. The tax is payable to the secretary on or before the fifteenth day of the fourth month following the month in which the tax is due. However, if the day on which the tax is payable falls on a Saturday, Sunday, or legal holiday, the tax shall be payable on the next business day. With its payment the taxpayer shall deliver to the secretary a full, accurate, and complete report and statement signed by a duly authorized official of the corporation, containing such information as the secretary may require.
B. If permission is granted to change the corporate accounting period as provided in La. Rev. Stat. 47:613, the corporation shall file a return for the period from the end of the twelve-month period for which the tax had become due to the first fiscal closing of the new accounting period. The tax to be paid in this case shall be based on the preceding fiscal closing and shall be computed by multiplying the ratio that the number of months from the closing date under the prior accounting period to the closing of the new accounting period bears to twelve, times the tax as computed on the yearly basis. Subsequent returns will be filed on the basis of the new accounting period in accordance with the provisions of this Section.
Acts 1991, No. 368, §1, eff. July 6, 1991; Acts 2005, 1st Ex. Sess., No. 27, §1, eff. Nov. 29, 2005; Acts 2008, 2nd Ex. Sess., No. 10, §2, eff. May 13, 2008, for taxable periods beginning on or after Jan. 1, 2011; Acts 2016, No. 661, §1, eff. June 17, 2016.