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ARTICLE · 02 JANUARY 2025

LDR Rule Amendments And Emergency Rule

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consider the following amendments to regulations made by the Louisiana Department of Revenue earlier this year that go into effect today and on January 1st and the emergency rule...

United StatesTax
Robert S. Angelico
Robert S. Angelico
Leon H. Rittenberg III
Leon H. Rittenberg III
Caroline Lafourcade
Caroline Lafourcade
John A. Rouchell
John A. Rouchell
Kevin Naccari, Jr.
Kevin Naccari, Jr.
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As we approach the year-end, taxpayers should consider the following amendments to regulations made by the Louisiana Department of Revenue earlier this year that go into effect today and on January 1st and the emergency rule regarding the following real and personal property regulations: LAC 61:V.703, 705, 901, 903, 907, 1007, 1103, 1301, 1303, 1307, 1503, 2501, 2503 and 3103 also effective on January 1st.

The Department amended the regulations for corporations electing pass-through entity status and nonresident net operating losses earlier this year. The amendment provides detail about what information and documentation taxpayers claiming the pass-through entity exclusion and nonresident individuals reporting a net operating loss must maintain. The Department also issued a similar amendment to the rule for personal income taxes. The rule will take effect December 20, 2024.

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