Form It541 - Fiduciary Income Tax Return (For Estates And Trusts) - 2007

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2007
IT-541 (1/08)
Fiduciary Income Tax Return
(For estates and trusts)
P.O. Box 3440
Baton Rouge, LA 70821-3440
For calendar year _________ or other taxable year
beginning _______________, and ending _______________
Please do not write in this space.
(month, day, year)
(month, day, year)
Name of estate or trust
C Federal Identification Number
A Mark applicable boxes.
❑ Initial return
D Date entity created
❑ Amended return
❑ Final return
Name and title of fiduciary
E Type of entity
Decedent’s estate
Simple trust
B Number of Schedules K-1 attached.
Number, street, and room or suite number
Complex trust
Grantor type trust
City or Town, State, and ZIP
Other
Computation of Income
Federal taxable income (before Income Distribution Deduction)(Enter the amount from your
1
1
federal Form 1041. If you use Louisiana Schedule A, Computation of Louisiana taxable
income before distribution deduction, leave Lines 1, 2, and 3 blank and begin with Line 4.)
$
Additions
2A Net income tax paid to any state or political or municipal subdivision
2A
2B Interest income from other states and their political or municipal subdivisions
2B
2C Total (Add Lines 2A and 2B.)
2C
Subtractions
3A Interest on U.S. government obligations
3A
3B Depletion in excess of federal depletion.
3B
3C S Bank Exclusion (See instructions.)
3C
3D Total (Add Lines 3A through 3C.)
3D
Louisiana taxable income before income distribution deduction (Enter the amount of Line
4
4
1 plus Line 2C, minus Line 3D or the amount from Line 12 of Louisiana Schedule A.)
5
Less Louisiana income distribution deduction
5
6
6
Louisiana taxable income before federal income taxes (Subtract Line 5 from Line 4.)
7
Less federal income tax deduction
7
$
8
Louisiana taxable income (Subtract Line 7 from Line 6.)
8
Computation of Tax
9
First bracket (First $10,000 of Line 8)
Amount of tax
Subtract Line 10 from Line 9 and enter the result in box 10A.
Taxable at 2%
10 Less personal exemption
10A
$
(See instructions.)
11
11 Second bracket (Next $40,000 of Line 8)
Taxable at 4%
12
12 Third bracket (Amount of Line 8 in excess of $50,000)
Taxable at 6%
13 Total tax (Add Lines 10, 11, and 12.)
13
Less credit allowed resident fiduciaries for net income taxes paid to a state other than
14A
14A
Louisiana. (Copy of other state’s return must be submitted.)
14B Other credits (Attach schedule.)
14B
15 Total tax after credits (Subtract Lines 14A and 14B from Line 13.)
15
Previous payments (Include extensions, pre-payments, and payments made by Composite
16
16
Partnership filing.)
17 Amount owed (Subtract Line 16 from Line 15.)
17
18 Total interest and penalty
18A. Interest ____________ 18B. Penalty __________
18
19 Total amount due (Add Lines 17 and 18.)
Pay this amount.
20 Overpayment: Refund $________________
Credit to 2008 $________________
20
$
Under the penalties of perjury, I declare that I have examined this return, including all accompanying documents, and to the best of my knowledge and belief,
it is true, correct, and complete. If prepared by a person other than taxpayer, his declaration is based on all information of which he has any knowledge.
Signature of fiduciary or officer representing fiduciary
Telephone
Date (mm/dd/yyyy)
Address
City
State
ZIP
Signature of preparer other than fiduciary
Telephone
Date (mm/dd/yyyy)
Address
City
State
ZIP

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