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 20, 2020, the Louisiana Supreme Court issued a major decision in an ad valorem (property) tax case involving oil and gas wells. D90 Energy, LLC v. Jefferson Davis Parish Board of Review, 2020-C-200 (La. 10/20/2020).
D90 Energy, an independent oil and gas operator, purchased from Goldking two gas wells and one salt-water
On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (Public Law No: 116-136, the “CARES Act” or the “Act”). Title I of the CARES Act creates the Paycheck Protection Program (discussed in more detail here). Generally speaking, the Paycheck Protection Program permits certain small businesses to
While the Louisiana Department of Revenue (the “Department”) has extended some filing and payment deadlines, it has not extended the April 15 and June 15 deadline for making 2020 first and second quarter individual and corporate estimated state income tax payments. Nor has the Department extended the April deadline for reporting and remitting March state
On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (Public Law No: 116-136, the “CARES Act” or the “Act”). Title I of the CARES Act creates the Paycheck Protection Program (discussed in more detail here). Generally speaking, the Paycheck Protection Program permits certain small businesses to
On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”). The CARES Act makes significant changes tax related employment and employee benefits changes in the form of a number of relief provisions designed to mitigate the negative economic consequences of the novel
On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (Public Law No: 116-136, the “CARES Act” or the “Act”). The CARES Act makes significant changes to the taxation of individuals and businesses in the form of a number of relief provisions designed to mitigate the negative economic
The Louisiana Legislature has simplified the effective state tax rates for most taxable transactions, eliminating the previous five potential tax rates (as applicable to various exemptions) to two possible rates: either fully exempt from state tax or 4.45% for most purchases. Effective July 1, 2018, House Bill (“HB”) 10 of the 2018 Third Extraordinary Session
By the Kean Miller State and Local Tax Team
On June 21, 2018, the Supreme Court of the United States issued its opinion in South Dakota v. Wayfair, Inc., Dkt. No, 17-494, 585 U.S. __ (June 21, 2018). In addition to overturning the physical presence substantial nexus standard applicable to use tax collection requirements articulated
The Louisiana Department of Revenue (the “Department”) has joined the ranks of cash-strapped states looking to raise additional corporate tax revenue through scrutinizing transfer pricing and proposing adjustments. In transfer pricing audits, the Department looks at transactions between related parties (having common ownership) and seek to determine whether the transactions are priced as they would