DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 383 Engrossed 2015 Regular Session Jackson
Abstract: For any claim filed on or after July 1, 2015, regardless of the taxable year to which the
return relates, eliminates the three year carryback of the net operating loss deduction for
purposes of calculating corporate income tax liability.
Present law provides for imposition, computation, and payment of income tax for estates and
property held in trust. Present law further authorizes the net operating loss to be deducted from net
income in any of the 15 years immediately following the year in which the loss occurred.
Present law provides a deduction from Louisiana net income for a net operating loss to be carried
back three taxable years preceding the taxable year of such loss or carried over to each of the 15
taxable years following the taxable year of such loss.
Proposed law repeals the three year carryback provisions of present law beginning with any claim
filed on or after July 1, 2015, regardless of the taxable year to which the return relates.
Present law provides for refunds of overpayment of taxes, penalties, and interest. Further authorizes
a refund when La. tax overpayment results from application of a net operating loss carryback.
Proposed law retains present law but repeals provisions relative to net operating loss carry back for
any claim filed on or after July 1, 2015, regardless of the taxable year to which the return relates.
Present law provides a three year prescriptive period within which a refund or credit shall be paid
and provides for suspension of the prescriptive period. Further provides a time table for prescription
when a refund or credit is attributable to a net operating loss deduction carryback election.
Proposed law retains present law but repeals provisions relative to the net operating loss deduction
carryback election for any claim filed on or after July 1, 2015, regardless of the taxable year to which
the return relates.
Proposed law applies to all claims for the net operating loss deduction on any return filed on or after
July 1, 2015, regardless of the taxable year to which the return relates.
(Amends R.S. 47:246(E) and (G), 287.86(A), (B), (C), (D), and (E), 1621(B)(7), and 1623(C);
Repeals R.S. 47:287.86(F), (G), (H), and (I))
Summary of Amendments Adopted by House The Committee Amendments Proposed by House Committee on Ways and Means to the original
bill:
1. Delete application of proposed law to tax years beginning on or after Jan. 1, 2015.
2. Add applicability of proposed law to all returns filed on or after July 1, 2015, regardless
of the taxable year to which the return relates.