LAC 13:I.3515. Claiming of Tax Credits

A. After receiving a final certification letter from the department, an employer may claim his refundable tax credit from LDR as follows. 1. All entities taxed as corporations for Louisiana income or corporation franchise tax purpose shall claim any credit on their corporation income or corporation franchise tax return. 2. Individuals shall claim any credit on their individual income tax return. 3. Estates or trust shall claim any credit on their fiduciary income tax return. 4. Entities not taxed as corporation shall claim any credit on the returns of the partners or members as follows. a. Corporate partners or members shall claim their share of the credit on their corporation income or corporation franchise tax returns. b. Individual partners or members shall claim their share of any credit on their fiduciary income tax returns. B. A retention and modernization tax credit shall expire and have no value or effect on tax liability beginning with the eleventh year after the tax year in which it was originally granted.