LDR issues two new RIBs

The Louisiana Department of Revenue has recently issued two Revenue Information Bulletins (RIBs), one of which is related to corporation and individual income taxes, and a second which is related to sales taxes.

Revenue Information Bulletin No.  10-023 concerns the credit authorized by Act 520 of the 2009 regular session of the Legislature that, when the state receives funding from the U.S. Department of Energy, can be taken against individual and corporation income tax liabilities based on investment in “green job industries”.

Revenue Information Bulletin No. 10-025 concerns the sales tax exemption authorized by La. R.S. 47:305(D)(2) for sales of meals provided by certain institutions.

A RIB is issued under the authority of LAC 61:III.101.D. A RIB is an informal statement of information issued for the public and employees that is general in nature. A RIB does not have the force and effect of law and is not binding on the public or the Department.

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