In Smith International v. Robinson, No. 10498, (La. App. 1 Cir. January 9, 2020), the Louisiana First Circuit Court of Appeal held that the Louisiana Department of Revenue (the “Department”) may not impose a late payment penalty when a taxpayer has paid the amount reported to be due on its tax return. The Court’s
Louisiana Board of Tax Appeals
Louisiana Board of Tax Appeals Holds that the Individual Net Capital Gain Exclusion Applies to a Multi-Step Transaction
By Jaye Calhoun, Jason Brown & William Kolarik on
Posted in Louisiana In General, State and Local Taxation
In Camp v. Robinson, No. 10609D, (La. Bd. Tax App. June 13, 2018), the Louisiana Board of Tax Appeals (the “Board”) held that Louisiana’s Individual Net Capital Gain Exclusion applies to a multi-step transaction. In so holding, the Board read more broadly the scope of the transactions to which the capital gain exclusion may…
Louisiana Department of Revenue Undeterred by Rulings in Favor of Taxpayers; Continues Severance Tax Audits and Assessments of Oil Producers
By Jason Brown on
Posted in State and Local Taxation
Over the last two or more years, the Louisiana Department of Revenue (the “Department”) has audited oil and gas producers operating in the state for severance-oil tax compliance. Of the completed audits, a significant number have resulted in a formal assessment, and many of those assessments are the subject of current, ongoing litigation. The Department…