Available in All Louisiana Counties
Taxscribe transforms tax management for business owners and CPAs in Louisiana, streamlining the shift from paper forms to efficient online filing. Offering advanced user management, easy data import, intuitive form completion, smooth submission processes, and comprehensive analytics, Taxscribe makes tax filing easier. It ensures businesses of every scale effortlessly navigate Louisiana’s tax compliance requirements.
Available Forms:
- - LAT-5
What is Business Personal Property?
In Louisiana, business personal property is defined as any movable, privately owned asset used for business, except real property. This includes:
- Inventory and Merchandise
- Furniture and Fixtures
- Machinery and Equipment
- Leasehold Improvements
- Leased Equipment
In Louisiana, business personal property is defined as any movable, privately owned asset used for business, except real property. This includes:
- Inventory and Merchandise
- Furniture and Fixtures
- Machinery and Equipment
- Leasehold Improvements
- Leased Equipment
Who should file a Business Personal Property tax return?
All businesses possessing personal property, like the items listed above, should file a LAT-5 business personal property return to their local assessor’s office.
All businesses possessing personal property, like the items listed above, should file a LAT-5 business personal property return to their local assessor’s office.
When you should file:
Business personal property tax filing in Louisiana must be filed by April 1st annually. Failure to file timely results in an estimated assessed value and may result in a penalty.
Business personal property tax filing in Louisiana must be filed by April 1st annually. Failure to file timely results in an estimated assessed value and may result in a penalty.
Extensions:
Extensions beyond the April 1st deadline may not be explicitly stated. Specific jurisdictions may allow for extensions individually. It’s advised to consult with your local assessor for any potential extension options and associated requirements.
Extensions beyond the April 1st deadline may not be explicitly stated. Specific jurisdictions may allow for extensions individually. It’s advised to consult with your local assessor for any potential extension options and associated requirements.
Important Notes:
- LAT-5 is the Business Personal Property Self Reporting Form in Louisiana.
- An itemized depreciation schedule should accompany your filing. If one is unavailable, a complete listing of all assets used in the operation of the business should be included with the individual item, the year of its acquisition and its original acquisition cost.
- All questions should be directed to your local parish assessor’s office.
- LAT-5 is the Business Personal Property Self Reporting Form in Louisiana.
- An itemized depreciation schedule should accompany your filing. If one is unavailable, a complete listing of all assets used in the operation of the business should be included with the individual item, the year of its acquisition and its original acquisition cost.
- All questions should be directed to your local parish assessor’s office.
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