La. Admin. Code tit. 13 § I-3911

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-3911 - Claiming Tax Credits

A. All entities taxed as corporations for Louisiana income tax purposes shall claim any credit allowed under this Subsection on their corporation income tax return.

B. Individuals, estates, and trusts shall claim any credit allowed under this Subsection on their income tax return.

C. Entities not taxed as corporations shall claim any credit allowed under this Subsection on the returns of the partners or members as follows.

1. Corporate partners or members shall claim their share of the credit on their corporation income tax returns.

2. Individual partners or members shall claim their share of the credit on their individual income tax returns.

3. Partners or members that are estates or trusts shall claim their share of the credit on their fiduciary income tax returns.

D. If the tax credit allowed exceeds the amount of taxes due for the tax period, then any unused credit may be carried forward as a credit against subsequent tax liability for a period not to exceed 10 years.

E. The investing company shall attach the tax certification letter to their return when claiming the credits.

La. Admin. Code tit. 13, § I-3911

Promulgated by the Department of Economic Development, Office of the Secretary, LR 36:2546 (November 2010).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6036.