§ 47:6108 — Refundable tax credits

Louisiana § 47:6108

• Jurisdiction: Louisiana
• Title 47: Revenue and Taxation

Text

§6108. Refundable tax credits
A. Notwithstanding any other provision of law to the contrary, any excess of
allowable credit provided in R.S. 47:6105, 6106, and 6107 and the refundable portion of the
credit as provided for in R.S. 47:6104 over the aggregate tax liabilities against which the
credit may be applied, as provided in this Section, shall constitute an overpayment, as
defined in R.S. 47:1621(A), and the secretary shall make a refund of the overpayment from
the current collections of the taxes imposed by Chapter 1 of Subtitle II of this Title, together
with interest as provided in R.S. 47:1624. The right to a credit or refund of any overpayment
shall not be subject to the requirements of R.S. 47:1621(B). All credits and refunds, together
with interest thereof, must be paid or disallowed within one year of receipt by the secretary
of the claim for refund or credit. Failure of the secretary to pay or disallow, in whole or in
part, any claim for a credit or a refund shall entitle the aggrieved taxpayer to proceed with
the remedies provided in R.S. 47:1625.
B. Notwithstanding anything to the contrary in Chapter 1 of Subtitle II of this Title,
the following rules shall apply with respect to the application of the credit established in
Subsection A of this Section:
(1) The credit for taxes paid by or on behalf of a corporation shall be applied against
Louisiana corporate income tax of the corporation.
(2) The credit for taxes paid by an individual shall be applied against Louisiana
personal income taxes.
(3) The credit for taxes paid by or on behalf of a corporation classified under
Subchapter S of the Internal Revenue Code of 1954, as amended, as an S corporation shall
be applied first against any Louisiana corporate income tax due by the S corporation, and the
remainder of any credit shall be allocated to the shareholder or shareholders of the S
corporation in accordance with their respective interests and applied against the Louisiana
income tax of the shareholder or shareholders of the S corporation.
(4) The credit for taxes paid by or on behalf of a partnership shall be allocated to the
partners according to their distributive shares of partnership gross income and applied against
any Louisiana income tax liability of the partners.
(5) The character of the credit for taxes paid by or on behalf of a partnership or S
corporation and allocated to the partners or shareholders, respectively, of such partnership
or S corporation, shall be determined as if such credit were incurred by such partners or
shareholders, as the case may be in the same manner as incurred by the partnership or S
corporation, as the case may be.
(6) The credit for taxes paid by an estate or trust shall be applied against the
Louisiana income tax imposed on estates and trusts.

Legislative History

Acts 2007, No. 394, §1, eff. July 10, 2007; Acts 2024, 3rd Ex. Sess., No. 6, §1, eff. Jan. 1, 2026.