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Screen LAGen - Louisiana Corporate Income Tax and Franchise Tax Returns (1120)

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General Information

Initial return
Enter
X
 to indicate that this is an initial Louisiana return. If this field is marked, the application does not annualize the income for a short-year return when calculating the tax on Form CIFT-620SD, Schedule L. This field defaults to the
Initial return
 field in the federal application.
Final return
Enter
X
 to indicate that this is a final Louisiana return. If this field is marked, the application marks the Final Return box on Form CIFT-620SD, Page 1 and sets the franchise tax on Form CIFT-620SD, Page 1 to
0
 (zero). This field defaults to the
Final return
 field in the federal application.
note
Returns marked as final in the previous year do not proforma to the current year. If the federal return is marked as final, the client does not appear in the list of clients that are available to proforma.
Real estate investment trust allowed dividends paid deduction
Enter
X
 if a real estate investment trust (REIT) filer is allowed the dividends paid deduction from the federal return. If this field is blank, the application reports the federal taxable income and federal income tax on the Louisiana return without including the dividends paid deduction.

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