Section 47:611 - Newly taxable corporationA. Every corporation or other entity subject to the franchise tax shall pay only an initial tax of one hundred ten dollars in the first accounting period or fraction thereof in which it becomes subject to the tax levied herein. The tax is first due immediately on the corporation's becoming taxable under this Chapter and is payable on or before the fifteenth day of the fourth month after the month in which the tax is due. After the first closing of the corporate books, the tax is payable as provided in R.S. 47:609, subject to the minimum tax as provided in this Subsection.B. Notwithstanding the provisions of this Section, the initial tax of an entity in existence and actually conducting business in Louisiana during its previous calendar or fiscal year shall be calculated pursuant to R.S. 47:609, based on its corporate books on the first day of the calendar or fiscal year in which the tax levied under this Chapter becomes due and shall be payable on or before the date otherwise required by this Section.La. Revenue and Taxation § 47:611
Acts 1991, No. 368, §1, eff. July 6, 1991; Acts 2009, No. 476, §1, eff. for taxable periods beginning after Jan. 1, 2010; Acts 2016, 1st Ex. Sess., No. 12, §2, eff. March 10, 2016; Acts 2018, No. 86, §1, eff. May 10, 2018; HCR 66, 2020 R.S.Amended by Acts 2018, No. 86,s. 1, eff. 5/10/2018.Amended by Acts 2016EX1, No. 12,s. 2, eff. 3/10/2016, op. 1/1/2017.Acts 1991, No. 368, §1, eff. 7/6/1991; Acts 2009, No. 476, §1, eff. for taxable periods beginning after 1/1/2010.See HCR 66 of the 2020 R.S. and Acts 2020, 1st Ex. Sess., No. 15, regarding suspension of Subsection A.