Income/Franchise:
Louisiana DOR Adopts Changes to Rule on Elective Pass-through Entity-Level Income Tax
Amended Louisiana Administrative Code (LAC) section 61:I.1001, La. Dept. of Rev. (12/20/22). The Louisiana Department of Revenue (Department) adopted changes to its rule addressing state law that permits certain pass-through entities to elect to pay Louisiana income tax at the entity level, effective for tax years beginning on or after January 1, 2019 [see S.B. 223 / Act 442 (2019) for more details on this state law]. According to the Department, the changes seek to implement legislation enacted in 2021 [see S.B. 159 / Act 134 (2021) and H.B. 292 / Act 396 (2021) and previously issued Multistate Tax Alert for more details on this legislation] as it concerns the repeal of the deduction for federal taxes paid and the amendment of rates for taxpayers making a pass-through entity election. Please contact us with any questions.
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