Archive for March 24, 2011

Revenue Information Bulletin 11-007: Farmer Certification Process

The Louisiana Department of Revenue has issued Revenue Information Bulletin (RIB) 11-007, which addresses the Farmer Certification Process.

In an effort to improve efficiency and simplify certain processes, the Louisiana Department of Revenue has revised its farmer certification process as described in Revenue Information Bulletin No. 09-034. Act 464 of the Regular Session of the 2009 Louisiana Legislature amended the sales tax exemption for farm equipment authorized by Louisiana Revised Statute 47:305.25 to require farmers and agricultural facilities to be certified by LDR in order to document their eligibility for the exemption. Beginning March 1, 2011, the Louisiana Department of Revenue began certifying eligible farmer or agricultural facilities using the R-1070 Application for Certification as a Manufacturer.

Farmers and agricultural facilities will no longer apply for certification using the R-1085 form which has been discontinued.

 Visit revenue.louisiana.gov to read the full text of RIB 11-007.

 

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E-filing surges past 1 million for state tax returns

BATON ROUGE – The Louisiana Department of Revenue (LDR) has received more than 1 million individual state income tax returns filed electronically, the department announced Thursday.  It is the earliest point during a tax filing season that electronically filed returns have crossed the 1 million threshold.  By comparison, the state received 1.3 million electronically filed returns in all of 2010.  So far, 90 percent of all returns filed in 2011 were submitted electronically. 

‘This is a new record,” said Secretary of Revenue Cynthia Bridges.  “It tells us that increasing numbers of Louisiana taxpayers appreciate the benefits of electronic filing. 

Taxpayers who file electronic returns receive their refunds more quickly than those who file paper returns.  The average processing time for electronic returns is 10 days.  For paper returns it is 12 to 16 weeks.

For state government, the benefits of electronic filing are significant.  The cost of processing paper returns is $1 per transaction.  This saves the state more than a million dollars a year. 

There are numerous ways to file individual tax returns electronically with the State of Louisiana.  The free web-based tax filing application Louisiana File Online is available on the LDR website at www.revenue.louisiana.gov/fileonline.  Many commercially available tax filing software packages also offer state filing options.

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