Form Cift-620 - Reduction In Exclusions And Deductions To Gross Income Worksheet For Use When Filing

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R-620GIW (7/15)
Income Taxable Period Covered
Reduction in Exclusions and Deductions to
Gross Income Worksheet for use when filing
Form CIFT-620
In the table below, compute the exclusion or deduction amounts as provided in the related revised statues before Act 123 reduction
in Column 1. Multiply Column 1 by percentage allowed and enter amount in Column 2. The amounts in Column 2 should be used to
compute your Louisiana Net Income on Schedule D or Schedule G, if applicable, of your Corporation Income and Franchise Tax return.
See Revenue Information Bulletin 15-017 for more information on amended returns or returns filed on extension.
Please attach this worksheet to your Form CIFT-620.
LDR Account Number
Column 1.
Column 2.
Amount prior to Act 123
Amount allowed under
Description
Reduction
Allowable Portion
Act 123
R.S. 47:51 Governmental Subsidies for
72%
Operating Public Transportation Systems
R.S. 47:158 Percentage Depletion
72%
R.S. 287.738 Refunds of Louisiana
72%
Corporation Income Tax
R.S. 47:287.71 Dividends from National
Banking Corporations and State Banking
72%
Corporations
R.S. 287.738 Deduction for dividends
72%
R.S. 287.738 Deduction for Hurricane
72%
Recovery Entity Benefits
R.S. 47:287.73(C)(4) Deduction for I.R.C.
72%
Section 280C expense
Form CIFT-620, Line 1C Reduction. In Column 1, enter the amount of NOL that would be utilized to reduce LA net income. This
amount cannot be greater that Line 1A of Form CIFT-620. Multiply Column 1 by percentage allowed and enter the result in Column 2
and on Form CIFT-620, Line 1C.
R.S. 47:287.86 Net operating loss
72%

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