Form Cift 620 – Fill Out and Use This PDF

The CIFT-620 form, issued by the Louisiana Department of Revenue, serves as a comprehensive document for corporations domiciled in Louisiana to file their Corporation Income Tax and Franchise Tax Returns. It intricately outlines the necessary financial information, including income, tax deductions, credits, and the specifics required for amendments, address changes, and name changes. For convenience and ensuring compliance with Louisiana tax obligations, entities must accurately complete and submit this form. Ready to tackle your tax responsibilities? Click the button below to begin filling out your CIFT-620 form.

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Form Cift 620 PDF Details

Navigating the complexities of corporate taxation and franchise obligations in Louisiana requires a solid understanding of key forms and documents issued by the Louisiana Department of Revenue, one of which is the CIFT-620 form. Aimed specifically at corporations operating within the state, this form serves as a combined return for both corporation income tax and franchise tax for a specified fiscal or calendar year. Businesses must meticulously provide their revenue account numbers, undergo any necessary name or address changes, and select the appropriate tax year information. Additionally, the form demands detailed financial reporting, including federal taxable income, total assets, and gross revenues. It caters to various situations by allowing amendments, signaling final returns, or acknowledging short periods. Critical to this process are computations for both income and franchise taxes, encompassing Louisiana net income adjustments, apportionment percentages, and capital stock totals. The form also integrates sections for nonrefundable and refundable credits, further embracing complexities like disaster relief credits and specific industry or activity incentives. Through careful completion and submission of the CIFT-620 form, corporations ensure compliance with state taxation laws, potentially mitigating liabilities while taking advantage of available credits and deductions, all under the declaration that the submitted information is complete and accurate to the best of the filer's knowledge.

Question	Answer
Form Name	Form Cift 620
Form Length	16 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	4 min
Other names	CIFT 620(1_06)F cift 620 2011 form

Form Preview Example

CIFT-620 (1/06)

Louisiana Department of Revenue

Post OfÞce Box 91011

Baton Rouge, LA 70821-9011

You must enter your Revenue

Account Number here:

For name change,

Omark circle.

For address change,

Omark circle.

	Louisiana	Louisiana
only.	Corporation	Corporation
only.	Income Tax	Franchise Tax
use	Return for 2005 or	Return for 2006 or
use	Fiscal Year	Fiscal Year
ofÞce	Fiscal Year	Fiscal Year
ofÞce	Begun _______, 2005	Begun _______, 2006
For	Ended _______, 2006	Ended _______, 2007
	Calendar year returns are due April 15.
	See instructions for Þscal years.

For amended return,

Omark circle. For final return,

Omark circle.

For short period

Oreturn, mark circle.

OExtension

Entity is not required

Oto file franchise tax

Please print corporation name and complete mailing address above.

A.	Federal Employer IdentiÞcation Number	A.

B.	Federal taxable income	B.			00

C.	Federal income tax	C.			00

D.	Income tax apportionment percentage (two decimal places)	D.	___ ___ ___ . ___ ___		%
			___ ___ ___ . ___ ___

E.	Gross revenues	E.			00

F.	Total assets	F.			00

G.	NAICS code	G.

H.	Was the income of this corporation included in a consolidated federal income tax return?	H.	Yes	No

I.	Is an Apportionment and Allocation Schedule (CIFT-620A) included with this return?	I.	Yes	No

J.	Do the books of the corporation contain intercompany debt?	J.	Yes	No

K.	Is borrowed capital computed on a calendar or fiscal year closing immediately prior to August 28, 2005?	K.	Yes	No

Computation of Income Tax

1A. Louisiana net income before loss adjustments and federal income tax deduction (Sch. D, Line 14, or Sch. P, Line 33)				1A.	00

1B. Subchapter S corporation exclusion (See instructions.) Attach schedule.				1B.	00

1C. Loss carryforward ($		) less federal tax refund applicable to loss ($	) Attach schedule.	1C.	00

1D. Loss carryback ($		) less federal tax refund applicable to loss ($	) Attach schedule.	1D.	00

1E. Disaster Relief Credit ($		.00) Enter Federal income tax deduction (See instructions.)		1E.	00

1F.	Louisiana taxable income (Subtract Lines 1B, 1C, 1D, and 1E from Line 1A.)			1F.	00

2.	Louisiana income tax (Schedule E, Line 4)			2.	00

3.	Total nonrefundable credits (From Schedule NRC, Line 11)			3.	00

4.	Income tax after nonrefundable credits (Subtract Line 3 from Line 2.)			4.	00

5.	Less prepayments (Schedule I, Line 7)			5.	00

6.	Amount of income tax due or overpayment (Subtract Line 5 from Line 4.)			6.	00

Under the penalties of perjury, I declare that I have examined this return, including all accompanying documents, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which he has any knowledge.

Signature of ofÞcer

Title of ofÞcer

Signature of preparer

Firm name

Telephone

Date

Telephone

Date

www.revenue.louisiana.gov

2611

Enter your Revenue Account Number here. ________________

Computation of Franchise Tax

7A.	Total capital stock, surplus, undivided proÞts, & borrowed capital (Schedule A-1, Line 25, Column 3)	7A.		00

7B.	Franchise tax apportionment percentage	7B.	___ ___ ___ . ___ ___	%
	(Schedule N, Line 5, of CIFT-620A) (Carry to 2 decimal places or 100.00%.)	7B.	___ ___ ___ . ___ ___	%


7C.	Franchise taxable base (Multiply Line 7A by Line 7B.)	7C.		00

8.	Amount of assessed value of real and personal property in Louisiana in 2005	8.		00

9.	Louisiana franchise tax (From Schedule F, Line 6)	9.		00

10.	Total nonrefundable credits (From Schedule NRC, Line 12)	10.		00

11.	Franchise tax after nonrefundable credits (Subtract Line 10 from Line 9.)	11.		00

12.	Less previous payments	12.		00

13.	Amount of franchise tax due or overpayment (Subtract Line 12 from Line 11.)	13.		00

	Net Amount Due

14.	Total income and franchise tax due or overpayment (Add Lines 6 and 13.)	14.		00

15.	Total refundable credits (From Schedule RC, Line 9)	15.		00

16.	Net income and franchise taxes overpayment (See instructions.)	16.		00

17.	Amount of overpayment you want to donate to	17.		00
	The Military Family Assistance Fund	17.		00
	The Military Family Assistance Fund

18.	Amount of overpayment you want Refunded	18.		00

19.	Amount of overpayment you want Credited to 2006	19.		00

20.	Amount owed (If Line14 is greater than Line 15, subtract Line 15 from Line 14 and enter the amount.)	20.		00

21.	Delinquent filing penalty (See instructions.)	21.		00

22.	Delinquent payment penalty (See instructions.)	22.		00

23.	Interest (See instructions.)	23.		00

24.	Additional donation to The Military Family Assistance Fund	24.		00

25.	Total amount due (Add Lines 20 through 24.)	25.		00
	Make payment to Louisiana Department of Revenue. Do not send cash.	25.		00

2612

Enter your Revenue Account Number here. ________________

For all credits, please see instructions for documentation requirements.

Schedule NRC Ð Nonrefundable Tax Credits, Exemptions, and Rebates

				Description				Code	Corporation			Corporation
				Description				Code	Income Tax (A)			Franchise Tax (B)
									Income Tax (A)			Franchise Tax (B)

1.											00				00

2.											00				00

3.											00				00

4.											00				00

5.											00				00

6.											00				00

7.											00				00

8.											00				00

9.											00				00

10.											00				00

11. Total Income Tax Credits: Add amounts in Column A. Enter here on CIFT-620, Line 3.											00

12.		Total Franchise Tax Credits: Add amounts in Column B. Enter here and on CIFT-620, Line 10.													00

					Schedule RC Ð Refundable Tax Credits

1.		Inventory Tax Credit												00

2. Ad Valorem Tax Credit for Certain Natural Gas Facilities														00

3. Ad Valorem Tax Credit for Offshore Vessels														00

4. Sound Recording Investor Tax Credit														00

5. Telephone Company Property Tax Credit														00

6. Prison Industry Enhancement Credit														00

7.		Urban Revitalization												00

8.		Other Refundable Credit												00

9.		Add Lines 1 through 8. Print the result here and on Line 15 of Form CIFT-620.												00


		For further information about these credits, please see instructions beginning on page 17.
		Description	Code		Description	Code	Description		Code		Description		Code
	Premium Tax		100		Atchafalaya Trace	200	New Jobs Credit		224	Motion Picture Resident			256
	Bone Marrow		120		Vehicle Alternative Fuel	206	Refunds by Utilities		226	Capital Company			257
	Nonviolent Offenders		140		Previously Unemployed	208	Eligible Re-entrants		228	Biomed/University			300
	Nonviolent Offenders		140		Previously Unemployed	208	Eligible Re-entrants		228	Research			300
										Research

	Qualified Playgrounds		150		Recycling Credit	210	Neighborhood Assistance		230	Tax Equalization			305
	Debt Issuance		155		Basic Skills Training	212	Motion Picture Investment		251	Manufacturing			310
	Debt Issuance		155		Basic Skills Training	212	Motion Picture Investment		251	Establishments			310
										Establishments

	Contributions to		160		New Markets	214	Research and Development		252	Enterprise Zone			315
	Educational Institutions		160		New Markets	214	Research and Development		252	Enterprise Zone			315
	Educational Institutions

	Employee and Dependent		165		Brownfields Investor	216	Historic Structures		253	Quality Jobs			320
	Health Insurance		165		Brownfields Investor	216	Historic Structures		253	Quality Jobs			320
	Health Insurance

	Donations to		170		Dedicated Research	220	Digital Interactive Media		254	Other			500
	Public Schools		170		Dedicated Research	220	Digital Interactive Media		254	Other			500
	Public Schools

					LCDFI Credit	222	Technology		255
					LCDFI Credit	222	Commercialization		255
							Commercialization

FOR OFFICE USE ONLY.

Field flag

2613

Enter your Revenue Account Number here. ________________

All applicable schedules must be completed.

Schedule A Ð Balance Sheet

	ASSETS		1. Beginning of year		2. End of year

1.	Cash

2.	Trade notes and accounts receivable

3.	Reserve for bad debts	(	)	(	)

4.	Inventories

5.	Investment in United States government obligations

6.	Other current assets (Attach schedule.)

7.	Loans to stockholders

8.	Stock and obligations of subsidiaries

9.	Other investments (Attach schedule.)

10.	Buildings and other fixed depreciable assets

11.	Accumulated amortization and depreciation	(	)	(	)

12.	Depletable assets

13.	Accumulated depletion	(	)	(	)

14.	Land

15.	Intangible assets

16.	Accumulated amortization	(	)	(	)

17.	Other assets (Attach schedule.)

18.	Excessive reserves or undervalued assets (Attach schedule.)

19.	Totals (Add Lines 1 through 18.)

	Liabilities and Capital

20.	Accounts payable

21.	Mortgages, notes, and bonds payable (one year old or less at balance sheet date and having
	a maturity of one year or less from original date incurred) (Complete Schedule B.)

22.	Other current liabilities (Attach schedule.)

23.	Loans from stockholders (Attach schedule.)

24.	Due to subsidiaries and afÞliates

25.	Mortgages, notes, and bonds payable (more than one year old at balance sheet date
	or having a maturity of more than one year from original date incurred)

26.	Other liabilities (Attach schedule.)

27.	Capital stock: a. Preferred stock

	b. Common stock

28.	Paid-in or capital surplus

29.	Surplus reserves (Attach schedule.)

30.	Earned surplus and undivided proÞts

31.	Excessive reserves or undervalued assets

32.	Totals (Add Lines 20 through 31.)

2615

Enter your Revenue Account Number here. ________________

All applicable schedules must be completed. Complete lines 1 through 11 only if there is an end of year balance in the ÒDue to Subsidiaries and AffiliatesÓ account (or an equivalent account) on the books of the corporation.

Schedule A-1 Computation of Franchise Tax Base

1.	Capital Stock:	Common Stock				00

		Preferred Stock				00

2.	Total Capital stock					00

3.	Surplus and undivided profits					00

4.	Surplus reserves (Include any excessive reserves or undervalued assets.)					00

5.	Total Ð Add Lines 2, 3, and 4.					00

6.	Due to subsidiaries and affiliates					00

7.	Deposit liabilities to affiliates					00

8.	Accounts payable less than 180 days old					00

9.	Adjusted debt to affiliates (Subtract Lines 7 and 8 from Line 6.)					00

10.	If Line 9 is greater than Line 5, subtract Line 5 from Line 9 and enter the result here.					00

11.	If the amount on Line 10 is greater than zero, multiply Line 10 by 50% (.50) and enter result here and on Line 24, Column 3.					00

			1	2	3
			End of year	14 % reduction	Total
				for items of debt	(See note below.)

12.	Accounts payable

13.	Mortgages, notes and bonds payable
	(one year old or less at balance sheet date and having a maturity of
	one year or less from original date incurred.) (Complete Schedule B.)

14.	Other current liabilities (Attach Schedule.)

15.	Loans from stockholders (Attach Schedule.)

16.	End of year balance due to subsidiaries and affiliates, less amount
	on Line 11.

17.	Mortgages, notes and bonds payable
	(more than one year old at balance sheet date or having a maturity
	of more than one year from original date incurred.)

18.	Other liabilities (Attach schedule.)

19.	Capital Stock:	Common Stock

		Preferred Stock

20.	Paid-in or capital surplus

21.	Surplus reserves (Attach schedule.)

22.	Earned surplus and undivided profits

23.	Excess reserves or undervalued assets

24.	Additional surplus and undivided profits, from Line 11 above

25.	Totals (Add Lines 12 through 24. Enter the Column 3 total on Page 2,
	Line 7A.) Round to the nearest dollar.

Note: Enter in Column 1 those items that are included in the franchise taxable base. Multiply Lines 12 through 18 by the percentage of reduction in Column 2. Subtract the result from Column 1 and enter the amount in Column 3.

2616

Enter your Revenue Account Number here. ________________

All applicable schedules must be completed.

Schedule B Ð Analysis of Schedule A, Column 2, Lines 21, 23, and 26

Original date			Due date		Payee	Installment amount	Balance due		Taxable amount
of inception			Due date		Payee	Installment amount	Balance due		Taxable amount
of inception




			Schedule C Ð Analysis of Schedule A, Column 2, Line 30 (Earned surplus and undivided profits per books)

1.	Balance at beginning of year					5. Distributions: a. Cash

2.	Net income per books					b. Stock

3.	Other increases (Itemize.)					c. Property

						6. Other decreases (Itemize.)


						7. Total (Add Lines 5 and 6.)

4.	Total (Add Lines 1, 2, and 3.)					8. Balance at end of year (Subtract Line 7 from Line 4.)

					Schedule D Ð Computation of Louisiana taxable income
				(Schedule D need not be completed if Schedule P of Form CIFT-620A is Þled with this return.)

1.		Federal taxable income						1.

					Additions to Federal taxable Income

2.		Net operating loss deduction claimed on federal return						2.

3.		Dividends received deduction claimed on federal return						3.

4.		Louisiana income tax deducted on federal return						4.

5.		Interest on obligations of other states or their political subdivisions						5.

6.		Other additions to federal taxable income (Attach schedule.)						6.

7.		Total additions (Add Lines 2 through 6.)						7.

					Subtractions from Federal Taxable Income

8.		Refunds of Louisiana income tax reported on federal return						8.

9.		Corporate dividends that have borne Louisiana income tax						9.

10.		Louisiana depletion in excess of federal depletion (Attach schedule.)						10.

11.		Expenses not deducted on the federal return due to Internal Revenue Code Section 280(C)						11.

12.		Other subtractions (Attach schedule.)						12.

13.		Total subtractions (Add Lines 8 through 12.)						13.

14.		Louisiana net income before S corporation exclusion, loss adjustments, and federal income tax deduction						14.
		(Line 1 plus Line 7, less Line 13. Enter here and on Page 1, Line 1A. Round to the nearest dollar.)						14.

2617

Enter your Revenue Account Number here. ________________

All applicable schedules must be completed.

Schedule E Ð Calculation of income tax

1.	Enter the net taxable income from Page 1, Line 1F

					Column 1		Column 2
2.	Calculation of tax				Net income	RATE	Column 2
2.	Calculation of tax				Net income	RATE	TAX
					in each bracket		TAX
					in each bracket

	a. First $25,000 of net income					x 4% =

	b. Next $25,000					x 5% =

	c. Next $50,000					x 6% =

	d. Next $100,000					x 7% =

	e. Over $200,000					x 8% =

3.	Add Lines 2a through 2e of Column 1 and enter here.

4.	Add Lines 2a through 2e of Column 2. Enter here and on Page 1, Line 2. Round to the nearest dollar.

				Schedule F Ð Calculation of franchise tax

1.	Enter amount from Page 2, Line 7C or 8, whichever is greater.

2.	Enter Þrst $300,000 of Line 1 above.

3.	Multiply the amount on Line 2 by $1.50 for each $1,000 or major fraction thereof and enter here.

4.	Subtract Line 2 from Line 1 and enter here.

5.	Multiply the amount on Line 4 by $3.00 for each $1,000 or major fraction thereof and enter here.

6.	Add Lines 3 and 5. Enter the result or $10.00, whichever is greater,
	here and on Page 2, Line 9. Round to the nearest dollar.

		Schedule G Ð Reconciliation of Federal and Louisiana net income
	(Complete Schedule G only if Þling an apportionment and allocation schedule [Form CIFT-620A] with this return.)

1. Enter total net income calculated under federal law before special deductions.

2. Additions to federal net income:			a. Louisiana income tax
			a. Louisiana income tax

			b. Interest on obligations of other states and their political subdivisions

			c.	Other




Subtractions from federal net income:			a. Dividends that have borne Louisiana income tax
			a. Dividends that have borne Louisiana income tax

			b. United States government interest

			c.	Other




3. Louisiana net income from all sources (same as Schedule P, Line 28, of CIFT-620A)

2618

	Enter your Revenue Account Number here. ________________
All applicable schedules must be completed.
	Schedule H Ð Reconciliation of Income Per Books with Income Per Return

1. Net income per books		7. Income recorded on books this year, but not
		included in this return (Itemize.)
2. Louisiana income tax		included in this return (Itemize.)

3. Excess of capital loss over capital gains

4. Taxable income not recorded on books this
year (Itemize.)
year (Itemize.)	8. Deductions in this tax return not charged
	8. Deductions in this tax return not charged
	against book income this year:
	against book income this year:

	a. Depreciation

	b. Depletion

5. Expenses recorded on books this year, but not	c. Other
deducted in this return:
deducted in this return:

a. Depreciation

b. Depletion

c. Other

	9. Total (Add Lines 7 and 8.)

	10. Net income from all sources per return
	(Subtract Line 9 from Line 6.)
6. Total (Add Lines 1 through 5.)	(Subtract Line 9 from Line 6.)

Schedule I Ð Summary of Estimated Tax Payments

	Check number	Date	Amount

1.Credit from prior year return

2.First quarter estimated payment

3.Second quarter estimated payment

4.Third quarter estimated payment

5.Fourth quarter estimated payment

6.Payment made with extension request

7. Total

Additional Information Required

1.Indicate principal place of business. __________________________

2.Describe the nature of your business activity and specify your principal product or service, both in Louisiana and elsewhere.

Louisiana:

Elsewhere:

3.Indicate the date and state of incorporation. ____________________

4.Indicate parishes in which property is located.

5. At the end of the taxable year, did you directly or indirectly own 50% or

more of the voting stock of any corporation? Yes No If Òyes,Ó show name, address, and percentage owned.

6.At the end of the taxable year, did any corporation, individual, partner- ship, trust, or association directly or indirectly own 50% or more of your

voting stock? Yes No

If Òyes,Ó show name, address, and percentage owned.

2619

CIFT-620A (1-06)		Corporation Apportionment and Allocation Schedules									Enter your Revenue
CIFT-620A (1-06)		Corporation Apportionment and Allocation Schedules									Account Number
				COMPLETE ALL APPLICABLE SCHEDULES.							here. ________________
Name as shown on CIFT-620											Income taxable period covered

	SCHEDULE M - COMPUTATION OF CORPORATE FRANCHISE TAX AND INCOME TAX PROPERTY RATIOS

									Located in Louisiana
				Located everywhere			Franchise tax				Income tax property factor
							property factor				Income tax property factor
							property factor
	1. Items		2. Beginning of year		3. End of year		4. End of year			5. Beginning of year			6. End of year

	Intangible assets
1.	Cash
2.	Notes and accounts receivable
3.	Reserve for bad debts		(	)	(	)	(	)
4.	..........Investment in U.S. govt. obligations
5.	......Stock and obligations of subsidiaries
6.	......Other investments (Attach schedule.)
7.	Loans to stockholders
8.	Other intangible assets (Attach schedule.)
9.	Accumulated depreciation		(	)	(	)	(	)
10.	..Total intangible assets (Add Lines 1-9.)
	Real and tangible assets
11.	Inventories
12.	Bldgs. and other depreciable assets
12.	Bldgs. and other depreciable assets
13.	Accumulated depreciation		(	)	(	)	(	)		(	)	(	)
14.	Depletable assets
14.	Depletable assets

15.	Accumulated depletion		(	)	(	)	(	)		(	)	(	)
16.	Land
16.	Land
17.	Other real & tangible assets (Attach sch.)
17.	Other real & tangible assets (Attach sch.)
18.	Excessive reserves, assets not reflected
18.	Excessive reserves, assets not reflected
	on books, or undervalued assets
19.	Total real and tangible assets
	(Add Lines 11 through 18.)
20.	......Total assets (Add Lines 10 and 19.)
21.	Enter amount from Line 19 above
22.	Less real and tangible assets not used
	in production of net apportionable income
	(Attach schedule.)
23.	Balance
24.	Beginning of year balance
25.	Total (Add Lines 23 and 24.)
26. Franchise tax property ratio (Line 20, Column 4 Ö Line 20, Column 3)							__ __ __ . __ __ %
27.	Income tax property ratio (Line 25, Column 6 Ö Line 25, Column 3)												__ __ __ . __ __ %

SCHEDULE N - COMPUTATION OF CORPORATE FRANCHISE TAX APPORTIONMENT PERCENTAGE

1. Description of items used as ratios

2. Total amount 3. Louisiana amount

4. Percent (Col. 3 Ö Col. 2)

1.Net sales of merchandise, charges for services, and other revenues

A.Sales (See instructions.) ....................................................................

B.Charges for services (See instructions.) ............................................

C.Other Revenues: Itemize. (See instructions.)

(i)Rents and royalties ......................................................................

(ii)Dividends and interest from subsidiaries ....................................

(iii)Other dividends and interest........................................................

(iv)All other revenues ........................................................................

D. Total (Total the amounts in Cols. 2 and 3. Enter ratio in Column 4.) ..........

2.Franchise tax property ratio (Enter in Col. 4 the percent from Line 26, Schedule M.)

3.Net sales of corporations engaged in the business of manufacturing (See instructions.)

4.Total of applicable percents in Column 4............................................................................................................................

5.Average of percents (Divide Line 4 by applicable number of ratios. Enter here and on Page 2, Line 7B of CIFT-620.) ..........

__ __ __ . __ __ %

2620

Enter your Revenue Account Number here. ________________

SCHEDULE P - COMPUTATION OF LOUISIANA NET INCOME

Column 3 must be completed. Column 2 must also be completed if the separate accounting method is used.

1. Items	2. LA amounts	3. Totals
	(Lines 1 through 27)

1.Gross receipts_______________Less returns and allowances_______________

2.Less: Cost of goods sold and/or operations (Attach schedules.)..........................................................................

3.Gross profit........................................................................................................................................................................................................

4. Dividends _______________Less: Dividends that have borne LA income tax (Attach schedule.)

Balance

5.Interest ..................................................................................................................................................................

6.Gross rents............................................................................................................................................................

7.Gross royalties ......................................................................................................................................................

8.Net gains from sale of capital assets (Attach schedule.) ......................................................................................

9.Net gains (loss) from sale of property other than capital assets (Attach schedule.) ............................................

10. Other income (Attach schedule.) ..........................................................................................................................

11. Total income (Add Lines 3 through 10.) ................................................................................................................

12. Compensation of officers ....................................................................................................................................

13. Salaries and wages (not deducted elsewhere) ....................................................................................................

14. Repairs (Do not include cost of improvements or capital expenditures.)..............................................................

15. Bad debts ..............................................................................................................................................................

16. Rent ......................................................................................................................................................................

17. Taxes (Attach schedule.) ......................................................................................................................................

18. Interest ..................................................................................................................................................................

19. Contributions ........................................................................................................................................................

20. Depreciation (Attach schedule.) ............................................................................................................................

21. Depletion (Attach schedule.) ................................................................................................................................

22. Advertising ............................................................................................................................................................

23. Pension, profit sharing, stock bonus, and annuity plans ......................................................................................

24. Other employee benefit plans ..............................................................................................................................

25. Other deductions (Attach schedule.) ....................................................................................................................

26. Total deductions (Add Lines 12 through 25.) ........................................................................................................

27. Net income from Louisiana sources (If separate [direct] method of reporting is used, enter here and on Line 33.) ..................

28.Net income from all sources (Subtract Line 26, Column 3 from Line 11, Column 3.) ........................................

29.Less: Allocable income from all sources (See instructions.) Attach schedule supporting each amount.

A.Net rents and royalties ......................................................................................................................................

B.Net profits or losses from sales or exchanges of property not made in the regular course of business ........

C.Other net allocable income ..............................................................................................................................

30.Net income subject to apportionment (Subtract Lines 29A, B, and C from Line 28.) ..........................................

31.Net income apportioned to Louisiana (See instructions.) ....................................................................................

32.Add: Allocable income from Louisiana sources (See instructions.) Attach schedule supporting each amount.

A.Net rents and royalties ......................................................................................................................................

B.Net profits or losses from sales or exchanges of property not made in the regular course of business ........

C.Other net allocable income ..............................................................................................................................

33.Louisiana net income before loss adjustments and federal income tax deduction (Add Lines 31, 32A, B, and C or enter amount from Line 27, whichever is applicable, here and on Page 1, Line 1A of Form CIFT- 620. Round to nearest dollar.) ..........................................

SCHEDULE Q - COMPUTATION OF INCOME TAX APPORTIONMENT PERCENTAGE

1. Description of items used as ratios

2. Total amount 3. Louisiana amount

4. Percent (Col. 3 Ö Col. 2)

1.Net sales of merchandise and/or charges for services

A.Sales (See instructions.) ..................................................................

B.Charges for services (See instructions.) ..........................................

C.Other gross apportionable income ..................................................

D.Total (Enter total of Lines A, B, and C in Col. 2 and Col. 3.) (Enter ratio in Col. 4.)..

2.Wages, salaries, and other personal service compensation paid

during the year (Enter amounts in Column 2 and Column 3, and ratio in Column 4.)

3.Income tax property ratio (Enter percentage from Line 27, Schedule M.)

4.ONLY corporations primarily in the business of manufacturing or merchandising, enter ratio from Line 1D, Column 4 (See instructions.) ............................................................................................................................................................

5.Total of percents in Column 4 ........................................................................................................................................

6.Average of percents (Use this result in determining income apportioned to Louisiana on Line 31, Schedule P.) ......................

__ __ __ . __ __ %

2621

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It is simple to finish the document with this detailed guide! This is what you want to do:

1. It is recommended to complete the Form Cift 620 correctly, hence be attentive when working with the parts that contain these specific blanks:

Form Cift 620 writing process clarified (part 1)

2. Right after completing the last section, head on to the subsequent step and enter the necessary particulars in these blank fields - Income tax apportionment percentage, Gross revenues, Total assets, D Federal income tax deduction, D Federal Disaster Relief Credits, E Louisiana taxable income, G NAICS code, Louisiana income tax, Enter the state abbreviation for, Does the income of this, Was the income of this corporation, If answered yes to J enter FEIN of, Do the books of the corporation, Enter the code for the federal, and Enter the code for the type of.

E Louisiana taxable income, Louisiana income tax, and Enter the code for the federal of Form Cift 620

3. This next section will be about CIFT WEB, Page of, Enter your LA Revenue Account, Net Amount Due, Col Income tax, Col Franchise tax, Col Total, Tax liability after priority, Refundable credits from, Schedule RCP, Tax liability after priority, Overpayment after priority, credits, Nonrefundable credits from, and Schedule NRCP - complete every one of these blank fields.

Form Cift 620 writing process clarified (portion 3)

People frequently make mistakes when filling in Overpayment after priority in this section. Ensure you review everything you enter right here.

4. Filling out year return, D Estimated payments, E Payment made with extension, F Total refundable credits and, payments, Overpayment, Tax due, Amount of Income tax overpayment, applied to franchise tax, Net Tax due, Interest, Delinquent filing penalty, Delinquent payment penalty, Additional donation to The, and Military Family Assistance Fund is vital in the next section - make certain that you take your time and be attentive with each and every field!

5. As a final point, the following last segment is precisely what you have to complete prior to finalizing the form. The blank fields in question include the following: CIFT WEB, Page of, Enter your LA Revenue Account, Net Amount Due, Col Income tax, Col Franchise tax, Col Total, Net overpayment, Amount of overpayment you, want to donate to The Military, Amount of overpayment to be, refunded, Amount of overpayment to be, credited to, and Make payment to Louisiana.

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