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  • Uncertainties Created by Tax and Accounting Issues Raised by the Paycheck Protection Program in the Coronavirus Aid, Relief, and Economic Security Act By: Jaye Calhoun, Carey Messina, Kevin Curry, Jason Brown, Angie Adolph, J. Mark Miller, Phyllis Sims, Robert Schmidt, Royce Lanning, and Willie Kolarik On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (Public Law No: 116-136, the “CARES Act” or the “Act”).  Title I of the CARES Act creates the Paycheck Protection Program (discussed in more detail... Continue ....
  • Tax Related Employment and Employee Benefits Changes in the Coronavirus Aid, Relief, and Economic Security Act By: Jaye Calhoun, Carey Messina, Kevin Curry, Jason Brown, Angie Adolph, J. Mark Miller, Phyllis Sims, Robert Schmidt, Royce Lanning, and Willie Kolarik On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”).  The CARES Act makes significant changes tax related employment and employee benefits changes in the form of a... Continue Reading... ....
  • Families First Coronavirus Response Act with Emphasis on Tax Credit Provisions   By Robert Schmidt The Families First Coronavirus Response Act (“FFCRA”) was enacted as HR 6201 and signed into law on March 18th, 2020. The Act consists of three divisions which are relevant to the provision of family and medical and sick leave and providing for tax credits in connection with the mandatory family and... Continue Reading... ....
  • Deadline Extended for Filing Property Tax Forms with Assessors By Angie Adolph Last week, the Louisiana Tax Commission issued an advisory confirming that the April 1 deadline for filing personal property tax forms with parish assessors was extended until April 13 pursuant to Governor John Bel Edward’s recent Executive Order.    Separately, Orleans Parish Assessor Errol Williams extended the Orleans Parish deadline for filing... Continue Reading... ....
  • Tax and Accounting Implications of the $2 Trillion Stimulus to Assist Individuals and Businesses Impacted by the Novel Coronavirus Pandemic By Jaye Calhoun, Carey Messina, Kevin Curry, Jason Brown, Angie Adolph, J. Mark Miller, Phyllis Sims, Robert Schmidt, Royce Lanning, and Willie Kolarik On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (Public Law No: 116-136, the “CARES Act” or the “Act”).  The CARES Act makes significant... Continue Reading... ....
  • Louisiana First Circuit Court of Appeal Limits The Application of Late Payment Penalties By: Jaye A. Calhoun, Jason R. Brown, William J. Kolarik, II, and Sanders W. Colbert In Smith International v. Robinson, No. 10498, (La. App. 1 Cir. January 9, 2020), the Louisiana First Circuit Court of Appeal held that the Louisiana Department of Revenue (the “Department”) may not impose a late payment penalty when a taxpayer... Continue Reading... ....
  • 2019 Legislative Session and Other Tax Updates By the Kean Miller Tax Team The 2019 Regular Session of the Louisiana Legislature ended on June 6, 2019. Important new tax provisions include several legislative acts signed into law by the Governor along with several proposed constitutional amendments that will appear on the ballot this October. In addition to substantive law changes, important remedial... Continue Reading... ....
  • Louisiana Supreme Court Rules Act 109 Limitations on the Credit for Taxes Paid to Other States are Unconstitutional, Creating a Potential Refund Opportunity for Certain Taxpayers By Jaye A. Calhoun, Jason R. Brown, and William J. Kolarik, II In Smith v. Robinson, La. S. Ct., Dkt. No. 2018-CA-0728 (Dec. 5, 2018), the Louisiana Supreme Court held that the Texas franchise tax (also known as the “Texas margins tax”) was an income tax for purposes of Louisiana’s credit for tax paid to... Continue Reading... ....
  • Opportunity Zones Guidance Now Available By Angela W. Adolph Opportunity Zones (“OZs”) were added to the US Tax Code by the 2017 Tax Cuts and Jobs Act (“TCJA”).  OZs are economically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatment. Communities are nominated by the states and approved by the Treasury Department as designated OZs.... Continue Reading... ....
  • Finally…Final Revisions to the ITE Program By Angela W. Adolph The Industrial Tax Exemption Program (ITEP) is a key tax incentive for manufacturers looking to expand or build facilities in Louisiana.  The property tax exemption is authorized in the Constitution and is administered by the Louisiana Department of Economic Development (LED).  Historically, exemption contracts were approved at the state level and... Continue Reading... ....