The property tax “open rolls” period is here for Louisiana taxpayers. While this annual inspection period is important in any year, legislation which took effect in 2022 has altered the process of appealing a parish assessor’s valuation determination. Therefore, it is critical for taxpayers to take early and appropriate action.
The “open rolls” period in
Because it was a fiscal session, the Louisiana Legislature enacted a number of key tax changes in the 2023 Regular Session that concluded on June 8, 2023. Below you will find the important substantive tax updates and their implications for taxpayers, which are addressed by tax type. A number of these changes represent welcome relief for
UPDATE – In its Action on Decision (AOD 2023-01, 2023-10 IRB 502), the Internal Revenue Service (“IRS”) announced its acquiescence to the holding of the Fifth Circuit in Trafigura Trading LLC v. United States, No. 21-20127, 29 F.4th 286 (5th Cir. 2022), i.e., that Internal Revenue Code (“IRC”) Section 4611(b)(1)(A) imposes a tax on
UPDATE – On February 15, 2023, the Louisiana Department of Revenue issued Revenue Information Bulletin (“RIB”) No. 23-010 stating that qualifying businesses can submit an application under the Fresh Start Proper Worker Classification Initiative by sending an email to FreshStart.LDR@LA.GOV. RIB No. 23-010 also states that in order to qualify, the employer must have consistently
On January 12, 2023, the Louisiana Board of Tax Appeals (the “Board”) granted a motion for partial summary judgment in Apple, Inc. v. Samuel, Dkt. No. L01283 (January 12, 2023) and held that the Internet Tax Freedom Act (the “ITFA”) prohibited Orleans Parish from imposing sales tax on subscription fees paid for the use
UPDATE – On January 20, 2023 the Louisiana Department of Revenue revised the proposed regulations. The revisions modify the previous Notice of Intent to amend the regulations relating to the new automatic extension. The revisions to the proposed rule no longer contain language requiring the Secretary to grant a “reasonable” extension because the statutory
Louisiana Department of Revenue income tax auditors are increasingly proposing large assessments by misapplying a formula in a Department regulation (La. Admin. Code 61:I.1130(B); the “Regulation”). The Regulation is based on a statute designed to prevent deductions related to allocable and nontaxable income and contains a formula that purports to determine a percentage of a
The property tax “open rolls” period is here for Louisiana taxpayers. This annual inspection period is important in any year, but this year early and appropriate action is critical in light of recent legislation that affects the process of appealing a valuation determination by a parish assessor.
The “open rolls” period in any Louisiana parish
On October 28, 2021, the Louisiana Department of Revenue (the “Department”) publicly announced a transfer pricing managed audit program in Revenue Information Bulletin No. 21-029 (October 26, 2021). Louisiana’s program is similar to managed audit programs recently introduced in other states, such as Indiana and North Carolina. However, unlike some other states, Louisiana’s managed
On December 27th, the President signed into law a second pandemic relief package as part of a larger government funding bill passed by Congress entitled The Consolidated Appropriations Act, 2021 (“CAA”). In March of this year, President Trump signed the first pandemic-related stimulus bill: H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (Public