La. Stat. tit. 51 § 3092

Current with changes from the 2024 3rd Extraordinary Session

Section 51:3092 - [See note for applicability] Corporation income and franchise tax exemption

Notwithstanding any other provision of law to the contrary, any corporation that is a LCDFI as provided for in this Chapter shall be exempt from the corporation income tax and the corporation franchise tax levied pursuant to Title 47 of the Louisiana Revised Statutes of 1950 for five consecutive taxable periods. The exemption from the corporation income tax shall commence with the taxable period in which the capital company is certified by the commissioner. The exemption from the corporation franchise tax shall commence with the taxable period next following the taxable period in which certification as a LCDFI is obtained from the commissioner.

La. R.S. § 51:3092

Acts 2005, No. 491, §1, eff. July 12, 2005; Acts 2015, No. 123, §2, eff. July 1, 2015; §4, eff. July 1, 2018; Acts 2018 2nd E.S., No. 4, eff. June 12, 2018.

Repealed by Acts 2024EX3, No. 5,s. 3, eff. 1/1/2025, app. to income tax periods beginning on or after 1/1/2025, and franchise tax periods beginning on or after 1/1/2026.

Added by Acts 2015, No. 123,s. 4, eff. 7/1/2018.

See Acts 2018 2^nd E.S, No. 4, regarding applicability.