Louisiana ~ Multiple Taxes: Hurricane Isaac Tax Relief Granted

The Louisiana Department of Revenue (LDR) is granting tax filing and payment extensions to taxpayers whose homes, principal place of business, or critical tax records are in areas affected by Hurricane Isaac. The LDR will waive any late filing penalties, late payment penalties, and interest that would otherwise apply. Any return or amount on which penalty or interest began accruing before August 26, 2012, will not be eligible for relief.

Specifically, extensions are available for sales tax, severance tax, and excise taxes with original or extended due dates on or after August 26, 2012, and on or before September 30, 2012. The due date for qualifying returns and payments for these taxes has been extended to October 15, 2012.

In addition, extensions are available for withholding tax payments due on or after August 30, 2012, and on or before September 30, 2012. Withholding payments will not be subject to penalty and interest as long as the payments are received by October 31, 2012.

Finally, for income and franchise tax purposes, tax filing and payment deadlines that occurred on or after August 26, 2012, and on or before January 11, 2013, are postponed. Affected individuals and businesses will have until February 11, 2013, to file these returns and pay any taxes due. This includes individuals and corporations that previously obtained an extension until November 15, 2012, to file their 2011 income returns. It also includes the estimated tax payment for the third quarter of 2012, normally due September 15, 2012.

Louisiana parishes affected by Hurricane Isaac and eligible for tax relief include: Ascension, Assumption, East Baton Rouge, East Feliciana, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. Bernard, St. Charles, St. Helena, St. James, St. John the Baptist, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington, West Baton Rouge, and West Feliciana. In Mississippi, tax relief applies to Hancock, Harrison, Jackson, and Pearl counties.

Revenue Information Bulletin No. 12-029 , Louisiana Department of Revenue, September 12, 2012 , ¶202-469

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

All stories by: Wolters Kluwer Tax and Accounting