HLS 15RS-1650 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 815
BY REPRESENTATIVE STOKES
TAX CREDITS: Provides for the carry forward rather than the refund of the tax credit for
ad valorem property taxes paid by telephone companies on certain property
1 AN ACT
2To amend and reenact R.S. 47:6014(D) and (E)(2), relative to income and corporation
3 franchise tax credits; to provide with respect to the tax credit for ad valorem taxes
4 paid on certain properties owned by telephone companies; to provide with respect
5 to authorization for issuance of refunds for tax credits which exceed taxpayer tax
6 liability; to provide for certain limitations; to provide for effectiveness; and to
7 provide for related matters.
8Be it enacted by the Legislature of Louisiana:
9 Section 1. R.S. 47:6014(D) and (E)(2) are hereby amended and reenacted to read as
10follows:
11 ยง6014. Credit for property taxes paid by certain telephone companies; fund
12 * * *
13 D. The excess, if any, of the credit allowed by this Section over the
14 aggregate tax liabilities against which such allowable credit may be applied, as
15 provided in this Section, shall constitute an overpayment, as defined in R.S.
16 47:1621(A), and the secretary shall make a refund of such overpayment from the
17 current collections of the taxes imposed under Chapter 2 of Subtitle II of this Title,
18 together with interest as provided in R.S. 47:1624. The right to a refund of any such
19 overpayment shall not be subject to the requirements of R.S. 47:1621(B). Any such
20 refund, together with interest thereon, shall be paid by the secretary within ninety
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1650 ORIGINAL
HB NO. 815
1 days of receipt by the secretary of the return on which the credit allowed by this
2 Section is claimed. Failure of the secretary to pay such refund, in whole or in part,
3 shall entitle the aggrieved taxpayer to proceed with the remedies provided in R.S.
4 47:1625. If the amount of the credit exceeds the amount of tax liability for the tax
5 year, then any unused credit may be carried forward as a credit against subsequent
6 Louisiana income or corporation franchise tax liability for a period not to exceed five
7 years.
8 E.
9 * * *
10 (2) The monies in the fund shall be used solely and exclusively for the
11 purpose of providing funds to pay the credits or refunds as provided in this Section.
12 The treasurer shall annually transfer to the state general fund an amount equal to the
13 credits taken and refunds issued pursuant to this Section.
14 * * *
15 Section 2. The provisions of this Act shall be applicable to tax years beginning on
16or after January 1, 2015.
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 815 Original 2015 Regular Session Stokes
Abstract: Changes the tax credit for ad valorem tax paid on public service property owned
by telephone companies from a refundable credit to a credit in which amounts of the
credit above the tax liability may be carried forward and applied against subsequent
tax liability for up to five years.
Present law provides for an income or corporation franchise tax credit for ad valorem taxes
paid to political subdivisions after Dec. 31, 2000, by a telephone company for public service
property owned by the telephone company which is assessed by the La. Tax Commission
at 25% of fair market value pursuant to present law. The amount of the credit shall be equal
to 40% of the taxes paid to political subdivisions.
Present law provides that the taxpayer is entitled to a refund for any allowable credit which
exceeds the aggregate tax liability of the taxpayer. Further requires the Dept. of Revenue
to refund the excess tax credit amount and interest to the taxpayer from current tax
collections within 90 days of receiving a tax credit claim.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1650 ORIGINAL
HB NO. 815
Proposed law changes the tax credit from a refundable credit to one in which credit amounts
which exceed taxpayer liability may be carried forward against subsequent income or
corporation franchise tax liability for up to five years. Proposed law deletes the requirement
of paying refunds within 90 days of receiving a tax credit claim.
Present law requires the avails of sales and use taxes collected on the furnishing of interstate
and international telecommunication services to be deposited into the Telephone Company
Property Assessment Relief Fund for payment of credits and refunds as provided for in
present law.
Proposed law retains present law but deletes references to the payment of refunds.
Applicable to tax years beginning on or after Jan. 1, 2015.
(Amends R.S. 47:6014(D) and (E)(2))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.