Form Cift 620 Web – Fill Out and Use This PDF

Print the corporation’s name and complete mailing address above.

A.	Federal Employer Identiication Number			A. u
B.	Federal taxable income			B. u							00
C.	Federal income tax			C. u							00
D.	Income tax apportionment percentage (two decimal places)			D. u			.				%
E.	Gross revenues			E. u							00
F.	Total assets			F.	u						00
G.	NAICS code			G. u
H.	Was the income of this corporation included in a consolidated federal income tax return?			H. u		Yes		No
				I. u
I.	Is CIFT-620A, Apportionment and Allocation Schedules included with this return?					Yes		No
				J. u		Yes
J.	Do the books of the corporation contain intercompany debt?							No
		Computation of Income Tax
1A.	Louisiana net income before loss adjustments and federal income tax deduction –										00
	From either CIFT-620 Schedule D, Line 13 OR from CIFT-620A Schedule P, Line 31			1A.	u
1B.	Subchapter S corporation exclusion – See instructions, page 16. Attach schedule.			1B.	u						00
1C.	Loss carryforward [$	.00] less federal tax refund applicable to loss [$	.00] Attach schedule.	1C.	u						00
1D.	Loss carryback [$	.00] less federal tax refund applicable to loss [$	.00] Attach schedule.	1D.	u						00
1E.	Federal income tax deduction – See instructions, page 16.			1E.	u						00
1E1.	Federal Disaster Relief Credits – See instructions, page 17.			1E1.	u						00
1F.	Louisiana taxable income – Subtract Lines 1B, 1C, 1D, and 1E from Line 1A.			1F.	u						00
2.	Louisiana income tax – From CIFT-620 Schedule E, Line 4			2.	u						00
3.	Total nonrefundable income tax credits – From CIFT-620 Schedule NRC, Line 10			3.	u						00
4.	Income tax after nonrefundable credits – Subtract Line 3 from Line 2.			4.	u						00
5.	Estimated tax payments – From CIFT-620 Schedule I, Line 7			5.	u						00
6.	Amount of income tax due or overpayment – Subtract Line 5 from Line 4.			6.	u						00

*Complete the following page, sign and date return and remit

any amount due shown on Line 25. Do not send cash.

www.revenue.louisiana.gov	WEB	2561

Print your LA Revenue Account Number here. u _____________________________

Make payment to Louisiana Department of Revenue. DO NOT SEND CASh.

You can pay your taxes online at: www.revenue.louisiana.gov/fileonline.

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.

Print your LA Revenue Account Number here. u _____________________________

Schedule NRC – Nonrefundable Tax Credits, Exemptions, and Rebates

	Description		Code		Corporation		Corporation
					Income Tax (A)		Franchise Tax (B)
1.	u					00		00
2.	u					00		00
3.	u					00		00
4.	u					00		00
5.	u					00		00
6.	u					00		00
7.	u					00		00
8.	u					00		00
9.	u					00		00
10.	Total Income Tax Credits: Add credit amounts in Column A. Print here and on CIFT-620, Line 3.			u		00
11.	Total Franchise Tax Credits: Add credit amounts in Column B. Print here and on CIFT-620, Line 10.			u				00

For further information about these credits, please see instructions beginning on page 18.

Schedule RC – Refundable Tax Credits and Rebates

	Description		Code	Amount of Credit Claimed
1.		u	F		00
2.		u	F		00
3.		u	F		00
4.		u	F		00
5.		u	F		00
6.	Total: Add lines 1 through 5. Print the result here and on CIFT-620, Line 15A.	u			00

For further information about these credits, please see instructions beginning on page 20.

WEB 2563

Print your LA Revenue Account Number here. u _____________________________

All applicable schedules must be completed.

Schedule A – 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 ixed 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

22. Other current liabilities – Attach schedule.

23. Loans from stockholders – Attach schedule.

24. Due to subsidiaries and affiliates

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 proits

31.Excessive reserves or undervalued assets

32. Totals – Add Lines 20 through 31.

Print your LA Revenue Account Number here. u _____________________________

For Schedule A-1 see Revenue Ruling 06-010 and Revenue Information Bulletin 13-006.

All applicable schedules must be completed. Complete Lines 1 through 11 only if there is an end of year balance in the “Due to Subsidiaries and Affiliates” account or an equivalent account on the books of the corporation. All corporations must complete Lines 12 through 18.

Note: All accounts on the books of the corporation should be reviewed to determine if an account is an item of capital, surplus or undivided proits. All items of capital, surplus and undivided proits must be included in the franchise taxable base. See Revenue Information Bulletin 06-026.

Print your LA Revenue Account Number here. u _____________________________

All applicable schedules must be completed.

Schedule C – Analysis of Schedule A, Line 30, Column 2 – 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 – Computation of Louisiana Taxable Income

Schedule D need not be completed if Form CIFT-620A, Schedule P is iled with this return.

1.Federal taxable income

Additions to Federal Taxable Income

2.Net operating loss deduction claimed on federal return

3.Dividends received deduction claimed on federal return

4.Louisiana income tax deducted on federal return

5.Other additions to federal taxable income – Attach schedule.

6.Total additions – Add Lines 2 through 5.

Subtractions from Federal Taxable Income

7.Refunds of Louisiana income tax reported on federal return

8.Louisiana depletion in excess of federal depletion – Attach schedule.

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

10.Road Home – The amount included in federal taxable income.

11.Other subtractions – Attach schedule.

12.Total subtractions – Add Lines 7 through 11.

13.Louisiana net income before S corporation exclusion, loss adjustments, and federal income tax deduction – Add the amount on Line 1 to the amount on Line 6, and subtract the amount on Line 12. Round to the nearest dollar. Print here and on CIFT-620, Line 1A.

Schedule B omitted on purpose.

Print your LA Revenue Account Number here. u _____________________________

All applicable schedules must be completed.

Schedule E – Calculation of Income Tax

	1.	Print the amount of net taxable income from CIFT-620, Line 1F.
			Column 1		Column 2
	2.	Calculation of tax	Net income	RATE
					TAX
			in each bracket
		a. First $25,000 of net taxable 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 the amounts in Column 1, Lines 2a through 2e and print the result.
	4.	Add the amounts in Column 2, Lines 2a through 2e. Round to the nearest dollar. Print the
		result in Column 2 and on CIFT-620, Line 2.
		Schedule F – Calculation of Franchise Tax

1.Print the amount from CIFT-620, Line 7C or Line 8, whichever is greater.

2.Print the amount of Line 1 or $300,000, whichever is less.

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

4.Subtract Line 2 from Line 1 and print the result.

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

6.Add Lines 3 and 5. Round to the nearest dollar. Print the result here and on CIFT-620, Line 9.

Schedule G – Reconciliation of Federal and Louisiana Net Income

Schedule G is required if Form CIFT-620A, Apportionment and Allocation Schedules are iled with this return.

Important! See R.S. 47:287.71 and R.S. 47:287.73 for information.

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

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

b.

c.

d.

e.

f.

Subtractions from federal net income:

a.Dividends

b.Interest

c.Road Home – The amount included in federal taxable income

d.Louisiana depletion in excess of federal depletion

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

f.Other subtractions – Attach schedule.

3.Louisiana net income from all sources – The amount should agree with Form CIFT-620A, Schedule P, Line 26.

			Print your LA Revenue Account Number here. u _____________________________
All applicable schedules must be completed.
	Schedule h – 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
3.	Excess of capital loss over capital gains
4. Taxable income not recorded on books this
	year – Itemize.
				8. Deductions in this tax return not charged
				against book income this year:
				a. Depreciation
				b.	Depletion
5. Expenses recorded on books this year, but not				c.	Other
	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 –
6. Total – Add Lines 1 through 5.				Subtract Line 9 from Line 6.
		Schedule I – 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 – Add Lines 1 through 6.
			Additional Information Required

	Corporation Apportionment and Allocation Schedules
	COMPLETE ALL APPLICABLE SChEDULES.
CIFT-620A WEB (1/15)	Print your LA Revenue Account Number here. u ___________________________________

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
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

13. Accumulated depreciation

(

)

(

)

(

)

(

)

(

)

14. Depletable assets

15. Accumulated depletion

(

)

(

)

(

)

(

)

(

)

16. Land

.........................................................

17. Other real & tangible assets – Attach sch

18. Excessive reserves, assets not relected

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. Print the amount from Line 19 above

22. Less real and tangible assets not used

in production of net apportionable income

– Attach schedule

23. Balance - Subtract Line 22 from Line 21 .

24. Beginning of year balance

25. Total – Add Lines 23 and 24

.............................26. Franchise tax property ratio (Line 20, Column 4 ÷ Line 20, Column 3)

__ __ __ . __ __ %

27. Income tax property ratio (Line 25, Column 6 ÷ 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 ÷ Col. 2)

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

A. Sales – See instructions, page 24

.............................B. Charges for services – See instructions, page 24

C. Other Revenues – See instructions, page 24.

(i)

Rents and royalties

For Manufacturers

(ii)

....................................Dividends and interest from subsidiaries

This is your apportionment ratio. Print

(iii)

Other dividends and interest

here and on Line 7B of CIFT-620.

Do NOT proceed further.

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

D.Total – Add the amounts in Columns 2 and 3. Calculate the ratio and print the result in Column 4. For taxpayers whose primary business is

	manufacturing, use this apportionment ratio. See instructions, page 24....		__ __ __ . __ __ %
2.	Franchise tax property ratio – Print in Column 4 the percentage from Schedule M, Line 26		__ __ __ . __ __ %
............................................................................................................................3. Total of applicable percents in Column 4			__ __ __ . __ __ %
4.	..............................Average of percents – Divide Line 3 by applicable number of ratios. Print here and on CIFT-620, Line 7B		__ __ __ . __ __ %

Print your LA Revenue Account Number here. u _____________________________

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 25)

1.Gross receipts ______________________ Less returns and allowances _____________________

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

3.Gross proit

4.Gross rents

5.Gross royalties

6.Income from estates, trusts, partnerships

7.Income from construction, repair, etc.

8.Other income – Attach schedule.

9.Total income – Add Lines 3 through 8.

10.Compensation of officers

11.Salaries and wages (not deducted elsewhere)

12. Repairs – Do not include cost of improvements or capital expenditures.

13.Bad debts

14.Rent

15. Taxes – Attach schedule.

16. Interest

17. Contributions

18.Depreciation – Attach schedule.

19.Depletion – Attach schedule.

20.Advertising

21.Pension, proit sharing, stock bonus, and annuity plans

22.Other employee beneit plans

23.Other deductions – Attach schedule.

24. Total deductions – Add Lines 10 through 23.

25. Net income from Louisiana sources – If separate (direct) method of reporting is used, print here and on Line 31.

26. Net income from all sources – Subtract Column 3, Line 24 from Column 3, Line 9.

27.Allocable income from all sources – See instructions, page 25. Attach schedule supporting each amount.

A.Net rents and royalties from immovable or corporeal movable property

B.Royalties from the use of patents, trademarks, etc.

C.Income from estates, trusts, and partnerships

D.Income from construction, repair, etc.

E.Other allocable income – See instructions, page 25.

28.Net income subject to apportionment – Subtract Line 27E, Column 3 from Line 26, Column 3.

29.Net income apportioned to Louisiana – See instructions, page 25.

30.Allocable income from Louisiana sources – See instructions, page 26. Attach schedule supporting each amount.

A.Net rents and royalties from immovable or corporeal movable property

B.Royalties from the use of patents, trademarks, etc.

C.Income from estates, trusts, and partnerships

D.Income from construction, repair, etc.

E.Other allocable income – See instructions, page 26.

31.Louisiana net income before loss adjustments and federal income tax deduction – Add Column 3, Line 29 to Column 3, Line 30E. Print the result or the amount on Line 25, whichever is applicable, here and on Form CIFT- 620, Line 1A. Round to the 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 ÷ Col. 2)
1.	Net sales of merchandise and/or charges for services			For Manufacturers or Merchandisers.
				This is your apportionment ratio. Use
	A. Sales – See instructions, page 26
				this result in determining income
	B. Charges for services – See instructions, page 26			apportioned to Louisiana on Line 29,
	C. Other gross apportionable income			Sch. P above. Do NOT proceed further.
	D. Total – Add the amounts in Columns 2 and 3. Calculate the ratio and print the
	result in Column 4. For taxpayers whose primary business is manufacturing
	or merchandising, use this apportionment ratio. See instructions, page 26			__ __ __ . __ __ %
2. Wages, salaries, and other personal service compensation paid
	during the year – Print the amounts in Column 2 and Column 3.			__ __ __ . __ __ %
	Calculate the ratio and print the result in Column 4
				__ __ __ . __ __ %
3.	Income tax property ratio – Print percentage from Schedule M, Line 27
4.	Total of percents in Column 4			__ __ __ . __ __ %
5.	Average of percents – Multiply this result by the amount on Schedule P, Line 28 to determine the amount of Louisiana apportionable income.			__ __ __ . __ __ %