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BHBM Tax Law Alert | LDR Due Date Extensions


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LOUISIANA TAX LAW UPDATE

Louisiana Department of Revenue Extends Due Date for Certain Tax Return Filings and Payments

On March 23, 2020, the Louisiana Department of Revenue (the “Department”) issued guidance in the form of Revenue Information Bulletin No. 20-009 (the “RIB”). The purpose of the RIB is to provide filing and payment extension relief for income and franchise tax returns and payments due on April 15 and May 15, 2020, and to share additional important information with Louisiana taxpayers. Specifically, the RIB provides that the filing and payment dates for the below tax returns are extended to July 15, 2020:

Income Tax Type Tax Form Tax Return Original Due Date
Corporation CIFT-620 2019 Corporation Income and 2020 Franchise Tax May 15, 2020
Partnership IT-565 2019 Partnership Return of Income April 15, 2020
Partnership R-6922 2019 Composite Partnership Tax Return May 15, 2020
Individual IT-540 2019 LA Resident Income Tax Return May 15, 2020
Individual IT-540B 2019 LA Nonresident and Part-Year Resident Income Tax Return May 15, 2020
Individual R-1035 LA Consumer Use Tax Return May 15, 2020
Fiduciary IT-541 2019 Fiduciary Income Tax Return May 15, 2020

The RIB additionally provides that no penalties or interest will be assessed provided that the return and payment are submitted to the Department by the July 15, 2020 extension date.

Further, the RIB clarifies that for fiscal year filers with an income tax or franchise tax return and payment due date between March 1, 2020 and May 30, 2020, the automatic extension for the return and payment is sixty days (60) from the original due date.

In addition, if a taxpayer (individual, corporation, fiduciary, or partnership) requires additional time to file the return, the RIB provides that an extension request may be submitted on the applicable extension form based on the tax type. The extension period shall run from July 16, 2020 to the general extension date of November 15, 2020 for individual, fiduciary, and partnership returns, and December 15, 2020 for corporation returns. However, interest and penalties shall accrue beginning on July 16, 2020 on the outstanding balance of tax due.

Please note that the RIB does not address individual estimated income tax payments for 2020 currently due on April 15, 2020 and June 15, 2020.

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