LDR Assistant Secretary Jarrod Coniglio will take your questions about the 2009 Louisiana Tax Amnesty Program this morning at 10 a.m. during a live chat with Gannet Newspapers.
Archive for August, 2009
The 2009 Louisiana Tax Amnesty Program begins on September 1 and continues through October 31. The amnesty program allows taxpayers to settle account balances, overdue audit assessments, and certain tax disputes with no penalties and only half of the interest on what they owe.
“This is a two-month window of opportunity to settle accounts in a manner that is advantageous for taxpayers and for the State of Louisiana,” said Secretary of Revenue Cynthia Bridges. “Taxpayers who have fallen behind on their obligations have a chance to bring their accounts up to date, and the state has a chance to collect much-needed revenue.”
The 2009 Louisiana Tax Amnesty Program applies to resident and non-resident individuals, and in-state and multi-state businesses.
Tax amnesty can be applied to:
- All taxes administered and collected by LDR, except for motor fuel taxes;
- Taxes that became due on or after July 1, 2001 and before January 1, 2009;
- Taxes due prior to January 1, 2009 for which LDR has issued a billing notice or demand for payment on or after July 1, 2001 and before May 31, 2009;
- Taxes for which the taxpayer and LDR have entered into an agreement to suspend the running of prescription until December 31, 2009;
- Taxes due on or before July 1, 2009, but were ineligible for an earlier amnesty program due to civil litigation.
A taxpayer qualifies for amnesty:
- If they failed to file a tax return or report;
- If they failed to report all income or all tax, interest and penalties that were due;
- If they claimed incorrect credits or deductions;
- If they misrepresented or omitted any tax due;
- If they are under audit or in administrative or judicial litigation.
During the two-month amnesty window of opportunity, eligible taxpayers can submit applications and make payments online.
For more information, visit www.LDRAmnesty.com.
View the 30-second Window of Opportunity video clip on YouTube.
The Department of Transportation’s “Cash for Clunkers” program will end Monday, DOT announced this afternoon.
“This program has been a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work,” Transportation Secretary Ray LaHood said in a released statement. “At the same time, we’ve been able to take old, polluting cars off the road and help consumers purchase fuel efficient vehicles.”
The DOT credits the program with 457,000 “dealer transactions worth $1.9 billion in rebates.”
LaHood reiterated the CARS program has been “the best economic news story in America.”
DOT also claims, “Most consumers have turned in trucks and SUV’s in exchange for passenger cars, with an improved gas mileage of about 60 percent.”
DOT also emphasizes that there’s enough money to reimburse every dealer.
“Based on conservative estimates of valid transactions so far, DOT analysts have projected that there is enough money to continue accepting submissions until the Monday deadline,” according to its release.
Monday at 8:00 pm ET is the drop deadline for dealers to submit applications for the $4,500 rebates.
Click here to read previous Tax Topics posts regarding the Cash for Clunkers program.
The Louisiana Department of Revenue has issued an emergency rule concerning the provisions of the Annual Louisiana Second Amendment Weekend Sales Tax Holiday.
The rule defines the terms and conditions of the sales tax holiday.
Act 453 of the 2009 Regular Session of the Legislature provides an exemption of state and local sales and use taxes on consumer purchases of firearms, ammunition and hunting supplies. This sales tax holiday will occur each calendar year on the first consecutive Friday through Sunday of September. The Annual Louisiana Second Amendment Weekend Sales Tax Holiday begins at 12:01 a.m. on that Friday and ends at 12 midnight on the following Sunday. During this weekend the sales and use tax levied by the state and its political subdivisions shall not apply to the sales price or cost price of any consumer purchases of firearms, ammunition and hunting supplies.
The full text of the rule (LAC 61:I.4425) is available for viewing or downloading at www.revenue.louisiana.gov.
Louisiana Secretary of Revenue Cynthia Bridges discussed the 2009 Louisiana Tax Amnesty Program with Shauna Sanford, the host of LPB’s “Louisiana: The State We’re In.”
Posted by kquillen August 07, 2009 05:25AM
Louisiana‘s annual sales tax holiday got underway this morning.
The two-day holiday exempts most retail purchases from the 4 percent state sales tax. Vehicles and meals are excluded.
The sales tax exemption applies only to the first $2,500 of each eligible item purchased. If an item costs more than $2,500, the consumer pays the state sales
tax only on the amount over $2,500. Local taxes will still be applied.
The holiday runs through midnight on Saturday
August 7, 2009
State’s sales tax-free period expected to spur buying
By Jeff Matthews
Four percent doesn’t sound like a lot, but it has meant a lot to Louisiana retailers and customers on the first weekend of August.
Since it was created two years ago by the Louisiana Legislature, the “sales tax holiday” on the first Friday and Saturday of August has grown into a major shopping event.
“Since they’ve been doing it, we’ve seen the difference,” said John Taylor, marketing manager at the Alexandria Mall. “It’s a significant increase of people out here shopping.”
“As far as getting the customers to come out, it’s a good thing,” said Elton Pody, president of the Central Louisiana Chamber of Commerce. “And it’s a really good thing for consumers. It’s really a time for consumers to have an advantage.”
The sales tax holiday started today at 12:01 a.m. and ends Saturday at midnight. During that time, purchases are not subject to the four percent state sales tax, though they are still subject to local sales taxes.
The limit for eligible purchases is $2,500. On larger purchases, the dollar amount over $2,500 is taxable. The only items that are not exempt from the state tax are vehicles that require a license to operate and prepared food.
The tax holiday was created to help with costs of school supplies and other back to school purchases, and such purchases are again expected to be hot sellers this weekend.
“We’re definitely expecting back to school shopping to be in full swing,” Taylor said. “We’re expecting it to be pretty busy.”
August 7, 2009
La. sales tax holiday under way through midnight Saturday
From Staff Reports
Louisiana’s state sales tax holiday started at 12:01 a.m. today and continues until midnight Saturday.
The holiday exempts shoppers from the 4 percent state sales tax on the first $2,500 of the purchase price of most items.
The exemption applies to all consumer purchases of tangible personal property other than vehicles subject to license and title and meals furnished for consumption on the premises where purchased, including to-go orders, according to the state Louisiana Revenue Department.
The exemption does not apply to purchases of taxable services like hotel rooms, athletic events and laundry and leases or rentals of tangible personal property.
August 7, 2009
Friday, Saturday are Sales Tax Holidays
The annual 2009 Louisiana Sales Tax Holiday is from 12:01 a.m. Friday to midnight Saturday. On these two days, most retail purchases will be exempt from the 4 percent state sales tax.
By state law, the holiday takes place each year on the first consecutive Friday and Saturday in August.
The sales tax exemption applies to the first $2,500 of the purchase price of most individual items of tangible personal property for non-business use. State sales tax is to be paid on that portion of the price — of any individual item — in excess of $2,500.
The exemption applies only to the 4 percent state sales tax. It does not apply to sales taxes collected by parishes, towns, school boards and other local taxing authorities. All retailers are required to participate by offering the tax exemption at the time of sale.
Sellers may take advantage of a special provision from the Louisiana Department of Revenue, which offers a $25 credit to offset the cost of reprogramming their cash registers. Information about the credit is available in Revenue Information Bulletin No. 03-009.
The annual 2009 Louisiana Sales Tax Holiday takes place on Friday, August 7, and Saturday, August 8. On these two days, most retail purchases will be exempt from the four-percent state sales tax, the Louisiana Department of Revenue (LDR) announced today.
The sales tax holiday begins at 12:01 a.m. on Friday, August 7, and continues through 12:00 midnight on Saturday, August 8. By state law, the holiday takes place each year on the first consecutive Friday and Saturday in August.
The sales tax exemption applies to the first $2,500 of the purchase price of most individual items of tangible personal property for non-business use. State sales tax is to be paid on that portion of the price – of any individual item – in excess of $2,500.
The exemption applies only to the four-percent state sales tax. It does not apply to sales taxes collected by parishes, towns, school boards, and other local taxing authorities. All retailers are required to participate by offering the tax exemption at the time of sale.
Sellers may take advantage of a special provision from LDR which offers a $25 credit to offset the cost of reprogramming their cash registers. Information about the credit is available in Revenue Information Bulletin No. 03-009.
For more information, visit the 2009 Louisiana Sales Tax Holiday page at www.revenue.louisiana.gov.