2013 Louisiana Laws
Revised Statutes
TITLE 47 - Revenue and Taxation
RS 47:1623 - Prescription of refunds or credits

§1623. Prescription of refunds or credits

A. After three years from the 31st day of December of the year in which the tax became due or after one year from the date the tax was paid, whichever is the later, no refund or credit for an overpayment shall be made unless a claim for credit or refund has been filed with the secretary by the taxpayer claiming such credit or refund before the expiration of said three-year or one-year period. The maximum amount which shall be refunded or credited shall be the amount paid within said three-year or one-year period. The secretary shall prescribe the manner of filing claims for refund or credit.

B. Provided that in any case where a taxpayer and the secretary have consented in writing to an extension of the period during which an assessment of tax may be made, the period of prescription for refunding or crediting overpayments as provided in this Section shall be extended in accordance with the terms of the agreement between the taxpayer and the secretary.

C. Provided that in any case where a refund relates to an overpayment attributable to a net operating loss deduction carry-back election made pursuant to R.S. 47:246(E) or 287.86, for taxable periods ending on or after December 31, 1983, in lieu of the three-year period of limitation prescribed in Subsection A of this Section, the period shall be the period which ends three years from the thirty-first day of December of the year in which the tax for the loss year would become due or the period prescribed in Subsection B or E of this Section with respect to such taxable year, whichever expires later.

D. Provided that in any case where a refund of taxes imposed by R.S. 47:295 relates to an overpayment attributable to a net operating loss deduction carry-back election, in lieu of the three-year period of limitation prescribed in Subsection A of this Section, the period shall be the period which ends three years from the thirty-first day of December of the year in which the tax for the loss year would become due, or the period prescribed in Subsection B or E of this Section with respect to such taxable year, whichever expires later. The provisions of this Subsection would be effective for net operating loss deduction carry-back elections made for taxable periods ending on or after December 31, 1987.

E. Provided that where a refund or credit relates to an overpayment of income tax, the running of prescription shall be suspended by means of:

(1) A written agreement entered into between a taxpayer and the United States Internal Revenue Service suspending the prescription of federal income tax; or

(2) For any period from the time of the commencement of an audit of a taxpayer by the United States Internal Revenue Service until one year from the time the secretary of the Department of Revenue is notified by said taxpayer or the federal government of an agreed change to the taxpayer's United States income tax return.

Acts 1985, No. 505, §1, eff. Aug. 1, 1985; Acts 1989, No. 362, §1; Acts 1991, No. 245, §1, eff. July 2, 1991; Acts 1992, No. 1035, §1, eff. for taxable periods beginning on or after Jan. 1, 1992; Acts 1996, No. 40, §1, eff. for taxable periods beginning on or after Jan. 1, 1997; Acts 1997, No. 658, §2; Acts 2002, No. 51, §1, eff. Jan. 1, 2003.

NOTE: FOR (E) SEE ACTS 1991, NO. 245, §2.

NOTE: See S.C.R. No. 32 of the 1996 1st Ex. Sess. re legislative intent.