LAC 61:III.1503 — Corporation Franchise Tax Returns—Electronic Filing Requirements

A. Every corporation that files a Louisiana Corporation Franchise Tax Return shall be required to file the return electronically with the Department of Revenue using the electronic format prescribed by the department as follows:
1. For tax periods beginning on or after January 1, 2019, every corporation 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, 2020, every corporation 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 corporation as reported on Line F of the LA CIFT 620;
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. Corporations required to electronically file their Louisiana Corporation Franchise 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 corporations 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. 47:1520(B).