2020 Regular Session ENROLLED
SENATE BILL NO. 205
BY SENATOR ALLAIN
1 AN ACT
2 To amend and reenact R.S. 47:287.614(C), relative to the reporting of federal income tax
3 adjustments; to define the term final determination; to provide for an effective date;
4 and to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:287.614(C) is hereby amended and reenacted to read as follows:
7 ยง287.614. Time and place for filing returns; information concerning federal return;
8 extension of time to file
9 * * *
10 C.(1) Any corporation whose federal income tax return is adjusted by the
11 Internal Revenue Service shall file an amended return within one hundred eighty
12 days of the final determination of such adjustments from the Internal Revenue
13 Service.
14 (2) For purposes of this Subsection, "final determination" shall mean
15 any of the following:
16 (a) The taxpayer's execution of federal Form 870, or its equivalent,
17 agreeing to the final and complete disposition of all deficiencies or
18 overassessments. If the agreement is subject to final approval by the Internal
19 Revenue Service, the Joint Committee on Taxation, or the United States
20 Department of Justice, the agreement shall be considered final when the
21 taxpayer receives a copy of the agreement executed by the government.
22 (b) The expiration of the statutory time period to petition the United
23 States Tax Court for a redetermination of the notice of deficiency.
24 (c) The execution of a signed closing agreement between the taxpayer
25 and the Internal Revenue Service pursuant to Section 7121 of the Internal
26 Revenue Code, that results in a final determination of all items in a completed
ACT No. 234
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words in boldface type and underscored are additions. SB NO. 205 ENROLLED
1 federal audit.
2 (d) The issuance of a final, nonappealable decision of the United States
3 Tax Court, the United States Court of Federal Claims, a United States district
4 court, or a United States court of appeals; a decision of the Supreme Court of
5 the United States; or any of these courts' approval of a stipulation disposing of
6 the case.
7 (e) The filing by the taxpayer of an amended federal income tax return
8 that changes state taxable income or state tax attributes.
9 * * *
10 Section 2. This Act shall become effective on January 1, 2021.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.