Transcription of Revenue Information Bulletin No. 19-019 February 5, 2020 ...
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Revenue Information Bulletin No. 19-019 February 5, 2020 ...
A Revenue Information Bulletin (RIB) is issued under the authority of LAC 61 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. Revenue Information Bulletin No. 19-019 February 5, 2020 Individual Income Tax Corporation Income Tax Fiduciary Income Tax Guidance on the Pass- through entity election Act 442 of the 2019 Regular Session allows an S corporation or an entity taxed as a partnership for federal income tax purposes to elect to be taxed as if the entity had been required to file a federal income tax return as a C corporation. Act 442 also provides for an individual income tax exclusion for shareholders, members and partners who would otherwise pay Louisiana income tax on the income that is not subject to tax at the entity level due to this election .
Individual Income Tax Corporation Income Tax Fiduciary Income Tax Guidance on the Pass-Through Entity Election Act 442 of the 2019 Regular Session allows an S corporation or an entity taxed as a partnership for federal income tax purposes to elect to be taxed as if the entity had been required to file a federal income tax return as a C corporation.
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