The Official Website of the Louisiana Department of Revenue
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.
Corporations will pay tax on net income computed at the following rates:
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).
top of page
Any corporation meeting any of the following provisions, unless specifically exempted
under the provisions of R.S. 47:608, must file a Louisiana corporation franchise
$1.50 for each $1,000 or major fraction thereof up to $300,000 of capital employed
in Louisiana, and $3 for each $1,000 or major fraction thereof in excess of $300,000
of capital employed in Louisiana. The initial corporation franchise tax is $10.
For information concerning capital employed in Louisiana and computation of the
tax, see the instructions for Forms ICFT-620 and 620A.
Initial return: An initial return covering the period
beginning with the date the corporation first becomes liable for filing a return
and ending with the next close of an accounting period must be filed on or before
the 15th day of the third month after the corporation first becomes liable.
Annual return:Louisiana corporation franchise tax accrues
on the first day of each accounting year, and the return for that period must be
filed on or before the 15th day of the fourth month of that accounting year.
R.S. 47:287.654 requires that corporations pay estimated income tax if the
corporation’s income tax less any credits for the taxable year can reasonably be
expected to be $1,000 or more. If the corporation is required to pay estimated income
tax, the percentage of the estimated tax must be paid on the 15th day of the following
months based on the period in which the estimated tax payment requirement was met:
If, after paying any installment of estimated tax, the taxpayer determines that
a new estimate is required, the payment amounts for the remaining installments may
be increased or decreased, as the case may be. The amount required by the new estimate
is computed by calculating the difference between the previous estimated tax amount
and the new estimated tax amount and dividing that difference between the number
of installments remaining to be paid.
If a corporation pays a tax installment that is more than the correct amount of
the installment, R.S. 47:287.660 allows the overpayment to be credited against the
corporation’s unpaid installments, and any excess to be credited or refunded.
Revised Statute 47:287.656 allows corporations to file an application for
an adjustment of an overpayment of its estimated income tax for a taxable year.
The application must be filed after the close of the taxable year and on or before
the 15th day of the fourth month thereafter, and before the tax return is filed.
However, no application will be allowed unless the adjustment amount is at least
ten percent of the corporation’s estimated tax amount and more than $500. This application
for an adjustment of overpayment of estimated income tax does not represent a claim
for credit or refund. There is no application form for this adjustment. However,
the request should include the following information:
Within 45 days of the date that an application for an adjustment is filed, the adjustment
will be allowed or disallowed if it is determined that the application contains
material omissions or errors. If the adjustment is allowed, the secretary may credit
the amount of the adjustment against any other tax liability owed by the corporation
and refund the remainder.
If it is later determined that adjustment amount was excessive, a penalty of 12
percent annually of the excessive amount from the date on which the credit was allowed
or the refund is paid to the due date for the taxable year. For the purposes of
the penalty, the excessive amount is the lesser of the amount of the adjustment
or the amount by which the corporation’s income tax liability exceeds the estimated
income tax paid during the taxable year reduced by the amount of the adjustment.
Revised Statute 47:287.614
allows an extension of time for filing the combined corporation income and franchise
tax return not to exceed seven months from the date the return is due. All extension
requests must be made electronically on or before the return’s due date. The return’s
due date is April 15th for calendar year filers, and the 15th day of the fourth month
following the close of the taxable year for fiscal year filers. Extension requests
received after the return’s due date or on paper will not be honored. An extension may
be requested in the following manner:
Payments cannot be made through the bulk extension filing application on LDR’s website.
Electronic payment can be made through tax preparation software that supports the option,
through LaTap; or by credit card at
Officialpayments.com. If you need to mail in a check or money order, you must use the
electronically filed extension payment voucher, Form CIFT-620EXT-V. This voucher can be printed
through the Online
Extension Filing application or the
Online Payment Voucher application.
In order to amend the amounts reported for the computation of income or franchise taxes, you must file an amended (corrected) Form CIFT-620.
Louisiana Revised Statute 47:287.614(C) requires every taxpayer whose federal return is adjusted to
furnish a statement disclosing the nature and amounts of such adjustments within 60 days after the adjustments have been made and accepted.
This statement should accompany the amended return.
To file a paper amended return:
You also have the option of filing the amended return electronically through the LDR Fed/State e-file program
for corporation income and franchise tax returns.
Developed and Maintained by Louisiana Department of Revenue