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 341 Engrossed 2018 Regular Session Abramson
Abstract: Changes the filing deadline for corporate franchise tax returns from on or before the 15
th
day of the third month after the month in which the tax is due to on or before the 15
th
day of
the fourth month after the month in which the tax is due.
Present law requires every corporation or other entity subject to the franchise tax to pay an initial tax
of $110 in the first accounting period in which the entity becomes subject to the tax. Further requires
that the tax is first due immediately on the corporation's becoming taxable under present law and is
payable on or before the 15
th
day of the third month after the month in which the tax is due.
Proposed law retains present law as it relates to the amount of the tax due but changes the deadline
in which the tax is due from on or before the 15
th
day of the third month after the month in which
the tax is due to on or before the 15
th
day of the fourth month after the month in which the tax is due.
Applicable to all corporate franchise tax years beginning on and after Jan. 1, 2019.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:611(A))