Louisiana adjusts penalty waiver provision

Beginning January 1, 2016, the law removes the Board of Tax Appeals penalty waiver approval requirement and provides for oversight by the House Ways and Means Committee and the Senate Revenue and Fiscal Affairs Committee for any waivers in excess of $25,000, except those waived under the voluntary disclosure program. (Act 128, (HB 721), Laws 2015, approved June 19, 2015, and effective as noted above.)

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