§3092. Corporation income and franchise tax exemption
Notwithstanding any other provision of law to the contrary, any corporation that is a LCDFI as provided for in this Chapter shall be exempt from the corporation income tax and the corporation franchise tax levied pursuant to Title 47 of the Louisiana Revised Statutes of 1950 for five consecutive taxable periods. The exemption from the corporation income tax shall commence with the taxable period in which the capital company is certified by the commissioner. The exemption from the corporation franchise tax shall commence with the taxable period next following the taxable period in which certification as a LCDFI is obtained from the commissioner.
Acts 2005, No. 491, §1, eff. July 12, 2005; Acts 2015, No. 123, §2, eff. July 1, 2015; §4, eff. July 1, 2018; Acts 2018 2nd E.S., No. 4, eff. June 12, 2018.
NOTE: See Acts 2018 2nd E.S,, No. 4, regarding applicability.
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