Louisiana Tax Changes - October 2024
Week Of 09.30.2024
The Louisiana Department of Revenue has issued a bulletin clarifying the sales tax treatment of discounted and complimentary items provided by casinos and gaming establishments.
The bulletin states that for sales tax purposes, the sales price of these items is the actual cash amount paid (if any) at the time the items are provided to the patron. The bulletin also provides examples of discounted and complimentary items and discusses sales and use tax requirements on the casino's purchase and use of tangible personal property in providing a complimentary incentive.
Louisiana Department of Revenue Announces New Tax Payment and Filing Regulations
The Louisiana Department of Revenue has implemented new regulations impacting both installment agreements for tax payments and electronic filing requirements for aviation fuel dealers. These changes aim to streamline tax processes and ensure timely compliance.
Installment Agreements:
- Increased Threshold: The maximum amount owed for an informal installment agreement has increased to 50,000∗∗,previously∗∗50,000∗∗,previously∗∗25,000.
- Extended Payment Period: The maximum payment period for informal installment agreements has been extended to 60 months, previously 36 months.
- Formal Agreements: Formal installment agreements are now required for amounts owed exceeding $50,000 or payment periods exceeding 60 months.
Electronic Filing for Aviation Fuel Dealers:
- Mandatory Electronic Filing: All aviation fuel dealers must electronically file their state sales tax returns (Form R-1029E) and submit payments starting with filing periods beginning on or after October 1, 2024.
- Electronic Payment Deadline: All payments must be electronically transferred to the Department by the 20th day following the close of the reporting period.
- Penalties for Non-Compliance: Failure to comply with the electronic filing and payment requirements will result in penalties, although waivers may be granted under certain circumstances.
These new regulations aim to modernize tax procedures in Louisiana, encouraging efficient and timely compliance.
Week Of 09/30/2024
Louisiana Sales & Use Taxes—Louisiana issues notice on casino discounted and complimentary items.
The Department of Revenue has issued a Revenue Information Bulletin discussing discounted and complimentary items provided by a casino or gaming establishment. The Department states that for sales tax purposes, the sales price of those items is the actual cash amount paid (if any) at the time the items are provided to the patron. The notice also gives examples of discounted and complimentary items and further discusses sales and use tax requirements on the casino's purchase and use of tangible personal property in providing a complimentary incentive. (Discounted and Complimentary Items Provided by a Casino or Gaming Establishment, Louisiana Dept. of Rev., 09/26/2024.)
Louisiana General Administrative Provisions—Louisiana installment agreement for payment of tax.
The Louisiana Department of Revenue has amended LAC 61:I.4919, effective September 20, 2024, relative to installment agreements for the payment of tax. The rule increases the maximum threshold and extends the payment period for informal installment agreements. Informal installment agreements will be allowed only if the amount owed is less than $50,000 (previously $25,000) and the payment period is 60 months or less (previously, 36 months or less). Formal installment agreements will be required if the amount owed is $50,000 (previously $25,000) or more or the payment period exceeds 60 months (previously, 36 months).
Louisiana Sales & Use Taxes—Louisiana electronic filing and payment requirements for aviation fuel dealers.
The Louisiana Department of Revenue has adopted LAC 61:III.1549 and 1550, effective September 20, 2024, which require aviation fuel dealers to electronically file all state sales tax returns and electronically submit all related sales and use tax payments. For filing periods beginning on or after October 1, 2024, aviation fuel dealers are required to file Form R-1029E (Louisiana Sales Tax Return) electronically. Effective for all filing periods beginning on or after October 1, 2024, all payments by any aviation fuel dealer will be electronically transferred to the Department on or before the 20th day following the close of the reporting period using the electronic format provided. Failure to comply will result in penalties. The regulations provide for waivers of penalties under certain circumstances.
Week Of 09/30/2024
Louisiana Sales & Use Taxes—Louisiana issues notice on casino discounted and complimentary items.
The Department of Revenue has issued a Revenue Information Bulletin discussing discounted and complimentary items provided by a casino or gaming establishment. The Department states that for sales tax purposes, the sales price of those items is the actual cash amount paid (if any) at the time the items are provided to the patron. The notice also gives examples of discounted and complimentary items and further discusses sales and use tax requirements on the casino's purchase and use of tangible personal property in providing a complimentary incentive. (Discounted and Complimentary Items Provided by a Casino or Gaming Establishment, Louisiana Dept. of Rev., 09/26/2024.)
Louisiana General Administrative Provisions—Louisiana installment agreement for payment of tax.
The Louisiana Department of Revenue has amended LAC 61:I.4919, effective September 20, 2024, relative to installment agreements for the payment of tax. The rule increases the maximum threshold and extends the payment period for informal installment agreements. Informal installment agreements will be allowed only if the amount owed is less than $50,000 (previously $25,000) and the payment period is 60 months or less (previously, 36 months or less). Formal installment agreements will be required if the amount owed is $50,000 (previously $25,000) or more or the payment period exceeds 60 months (previously, 36 months).
Louisiana Sales & Use Taxes—Louisiana electronic filing and payment requirements for aviation fuel dealers.
The Louisiana Department of Revenue has adopted LAC 61:III.1549 and 1550, effective September 20, 2024, which require aviation fuel dealers to electronically file all state sales tax returns and electronically submit all related sales and use tax payments. For filing periods beginning on or after October 1, 2024, aviation fuel dealers are required to file Form R-1029E (Louisiana Sales Tax Return) electronically. Effective for all filing periods beginning on or after October 1, 2024, all payments by any aviation fuel dealer will be electronically transferred to the Department on or before the 20th day following the close of the reporting period using the electronic format provided. Failure to comply will result in penalties. The regulations provide for waivers of penalties under certain circumstances.