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Louisiana Unrelated Business Income Worksheet for IRC 401(a) and 501 Organizations
Extracted from PDF file 2023-louisiana-form-cift-401w.pdf, last modified December 2020Unrelated Business Income Worksheet for IRC 401(a) and 501 Organizations
CIFT-401W (1/23) Unrelated Business Income Worksheet for IRC 401(a) and 501 Organizations Attach completed worksheet to your 2022 CIFT-620 Enter your LA Revenue Account Number here. _________________________ Name as shown on CIFT-620 Income Taxable Period Covered Louisiana Revised Statute 47:287.501 provides that an organization described in Internal Revenue Code Sections 401(a) or 501 shall be exempt from income taxation to the extent the organization is exempt from income taxation under federal law, unless the contrary is expressly provided. Accordingly, an exempt organization that has income from an unrelated trade or business and files a Federal Form 990-T with the Internal Revenue Service is subject to file and report its Louisiana-sourced unrelated business income to Louisiana. Louisiana Administrative Code 61:I.1140 and Revenue Information Bulletin 09-009 have been published providing guidance whereby these organizations are not exempt from taxation on the Louisiana-sourced unrelated business income or income not included under I.R.C. Sections 401(a) or 501, and they are required to file a Form CIFT-620 reporting such income. This worksheet will serve as a guide in determining the amount of Louisiana-sourced unrelated business income that the organization must report and the amount of federal income tax that is allowed as a deduction. When completing this worksheet and Form CIFT-620, include only items of income and expense related to the production of unrelated business income. Also note that franchise tax computations on both forms are not required to be completed if these organizations are not subject to the Louisiana Franchise Tax. If not subject to Franchise Tax, use code 5 on Form CIFT-620, Line 7. Unrelated Business Income To determine the amount of unrelated business income that should be reported to Louisiana, complete Lines 1 and 2 below. 1 Federal net unrelated business income – Enter the amount from Federal Form 990-T, Part I, Line 5, here and on Form CIFT-620, Schedule F, Line 1. 1 If the unrelated business income is from business done only within Louisiana: Complete Form CIFT-620, Schedule F. Enter the amount from Form CIFT-620, Schedule F, Line 4 on Form CIFT-620, Line 1A. Proceed to Line 2. If the unrelated business income is from business within and outside of Louisiana: Complete Form CIFT-620, Schedules D and F, and, if applicable, complete Schedules B and C. Enter the amount from Form CIFT620, Schedule D, Line 30 on Form CIFT-620, Line 1A. Proceed to Line 2. 2 Louisiana net unrelated business income before federal income tax deduction – Complete Form CIFT-620, Lines 1B through 1C1. Subtract Lines 1B and 1C1 from Line 1A and enter the result here and on Form CIFT-620, Line 1D. 2 Tax Calculation 3 Louisiana income tax – Follow the instructions for Form CIFT-620 Schedule J. Enter the amount from Schedule J, Line 4 here and on Form CIFT-620, Line 2. 3 After completing Line 3 above, follow the instructions to complete Form CIFT-620. Attach this worksheet and applicable schedules to the completed Form CIFT-620 when filing the return. 22399
Form CIFT-401W
More about the Louisiana Form CIFT-401W Corporate Income Tax TY 2023
We last updated the Unrelated Business Income Worksheet for IRC 401(a) and 501 Organizations in February 2024, so this is the latest version of Form CIFT-401W, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CIFT-401W directly from TaxFormFinder. You can print other Louisiana tax forms here.
Other Louisiana Corporate Income Tax Forms:
TaxFormFinder has an additional 34 Louisiana income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form CIFT-620 | Corporation Income Tax and Franchise Tax Return |
| Form IT-541 | Fiduciary Income Tax Return |
| Form CIFT-401W | Unrelated Business Income Worksheet for IRC 401(a) and 501 Organizations |
| CIFT-620ES | Estimated Tax Voucher for Corporations |
| Form IT-565 | Partnership Return of Income and Form IT-565B Apportionment |
View all 35 Louisiana Income Tax Forms
Form Sources:
Louisiana usually releases forms for the current tax year between January and April. We last updated Louisiana Form CIFT-401W from the Department of Revenue in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Louisiana Form CIFT-401W
We have a total of twelve past-year versions of Form CIFT-401W in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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