Archive for May 17, 2011

LDR News Release: State filing extensions available to taxpayers affected by 2011 spring flood

BATON ROUGE (May 17, 2011) – Louisiana taxpayers in areas of the state affected by the 2011 spring flood are eligible for extensions to file and pay state taxes, the Louisiana Department of Revenue (LDR) announced Monday.

LDR will grant a 30-day filing extension for tax returns due May 15-31 on a case-by-case basis for taxpayers who:

  • evacuated as the result of a mandatory order;
  • engaged in preventative flood protection measures for homes or property located in an area projected to flood as a result of the opening of a spillway; or
  • suffered damage to a home or property as a result of flooding on a date in which a return was due.

Taxpayers filing electronic returns should fax spring flood-related extension requests to 225-923-4069. Faxed requests should bear the title “2011 Flood Impact;” include the name and address of the residence or business; the type of tax; and the account number, along with a description of flood-related effects and reasons supporting the taxpayer’s inability to file a return by the deadline.

Paper-filed returns requesting spring flood extensions should be written in blue or black ink and have “2011 Flood Impact” written at the top of the return on page 1.

For more information, call 225-219-0102 for individual income taxes and 225-219-7462 for business taxes.


‘Bill would halt state income taxes’

The Advocate reports that house and senate committees in the Louisiana legislature advanced bills that would repeal the state’s corporate and individual income taxes:

Three bills advanced:

n House Bill 633 by state Rep. Hunter Greene to repeal the state corporate income tax beginning Jan. 1. The bill would reduce state revenue by $81 million the first year.

n House Bill 634, also by Greene, to repeal the state personal income tax beginning Jan. 1. The bill would reduce state revenue by $3 billion the first year of the repeal.

n Senate Bill 259 by state Sen. Rob Marionneaux to phase out the state personal and corporate income taxes by Jan. 1, 2015.

Greg Albrecht, chief economist for the Legislative Fiscal Office, said HB633 and HB634 would eliminate half of the state general fund.

Health care and higher education rely heavily on the state general fund. “It would be quite a challenge,” Albrecht said.

Other states have an increased reliance on property and sales taxes rather than being dependent on income taxes, Albrecht said.