Statutes, codes, and regulations
Louisiana Administrative Code
Title 61 - REVENUE AND TAXATIONPart III - Administrative and Miscellaneous Provisions
Chapter 15 - Mandatory Electronic Filing of Tax Returns and Payment
Section III-1507 - Partnership Returns-Electronic Filing Requirements

La. Admin. Code tit. 61 § III-1507

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Current through Register Vol. 50, No. 9, September 20, 2024
Section III-1507 - Partnership Returns-Electronic Filing Requirements
A. Every partnership that files a Louisiana Partnership Tax Return, except for those partnerships filing composite partnership returns, shall be required to file the return electronically with the Department of Revenue using the electronic format prescribed by the department. For taxable periods beginning on or after January 1, 2021, partnerships filing composite partnership returns must also file a Louisiana Partnership Return electronically. The format shall be as follows:
1. For tax periods beginning on or after January 1, 2018, every partnership with total assets which have an absolute value equal to or greater than $500,000 (total assets with a value equal to or greater than $500,000 or with a value equal to or less than -$500,000) shall file the return electronically.
2. For tax periods beginning on or after January 1, 2019, every partnership with total assets which have an absolute value equal to or greater than $250,000 (total assets with a value equal to or greater than $250,000 or with a value equal to or less than -$250,000) shall file the return electronically.
3. For purposes of this Section, assets shall mean:
a. total worldwide assets of the partnership as reported on Line F of the form IT- 565;
b. total assets shall include both tangible and intangible assets; and
c. total assets shall be valuated based upon book value which takes into account depreciation and depletion of assets.
4. Partnerships required to electronically-file their Louisiana Partnership Income Tax return may not send paper versions of any forms to be included as part of their return.
5. This electronic filing mandate applies to partnerships and preparers who file the return on a business entity's behalf.
B.
1. Failure to comply with this electronic filing requirement of this section will result in the assessment of a penalty as provided for in R.S. 47:1520(B).
2. Waiver of the penalty provided for in paragraph 1 of this subsection shall only be allowed as provided for in R.S. 471520(B).

La. Admin. Code tit. 61, § III-1507

Promulgated by the Department of Revenue, Policy Services Division, LR 441639 (9/1/2018), Amended by the Department of Revenue, Policy Services Division, LR 481106 (4/1/2022).
AUTHORITY NOTE: Promulgated in accordance with R.S. 47:201, R.S. 47:1511, and R.S. 47:1520.