After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Louisiana corporations.
Louisiana corporations must keep the following with their corporate records at the principal address or at the registered office:
- Books and accounts showing the amounts of its assets and liabilities, receipts and disbursements, and gains and losses
- Records of the proceedings of shareholders, directors and any committees of the board of directors
- Stock register/transfer ledger with the names and addresses of shareholders, the number of classes held by each, and the dates on which the certificates were issued
Corporate taxes and fees
The following are taxation requirements and ongoing fees for Louisiana corporations:
- Annual report and franchise tax. Louisiana requires corporations to file an annual report that is due on the anniversary date of the incorporation. The fee is $25. Louisiana also requires a franchise tax that is due on the first day of the calendar or fiscal year. The franchise tax is calculated based on the amount of outstanding capital stock (authorized shares), surplus, undivided profits and borrowed capital. The borrowed capital component of this calculation will be phased out over a seven-year period from January 1, 2006, to January 1, 2012.
- Taxes. For complete details on state taxes for Louisiana corporations, visit Business Owner's Toolkit or the State of Louisiana.
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. Louisiana does not require a state tax identification number.
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
S corporation election
Louisiana recognizes the federal S corporation election and does not require a state-level S corporation election.
Additional Louisiana information
View the following additional resources BizFilings has for forming and maintaining companies in Louisiana:
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