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Rs 47:164 Information At Source

§164. Information at source

A. Payments of $1,000 or more. All persons in whatever capacity acting, including

lessees or mortgagors of real or personal property, fiduciaries, and employers, making

payment to another person of interest, rent, salaries, wages, premiums, annuities,

compensation, remunerations, emoluments, or other fixed or determinable gains, profits, and

income, other than payments described in R.S. 47:165(A) or 166, of one thousand dollars

($1,000.00) or more in any taxable year, or, in the case of such payments made by the United

States, the state of Louisiana or any other state, or any political subdivision, agency or

instrumentality of the foregoing, the officers or employees of the United States, the state of

Louisiana, or any other state or of any political subdivision, agency or instrumentality thereof

having information as to such payments and required to make returns in regard thereto under

the regulations hereinafter provided for, shall render a true and accurate report to the

collector, under such regulations and in such form and manner and to such extent as may be

prescribed by him, setting forth the amount of such gains, profits, and income, the name and

address of the recipient of such payment and such other information as the collector may

require.

B. Returns, regardless of amount of payment. Such returns may be required by the

collector regardless of amount, in case of payments of interest upon bonds, mortgages, deeds

of trust, or other similar obligations of corporations, and in the case of collections of items

(not payable in Louisiana) of interest upon the bonds of a foreign state or country and interest

upon the bonds of and dividends from foreign corporations by persons undertaking the

collection of such foreign payments of interest or dividends by means of coupons, checks,

or bills of exchange.

C. Recipient to furnish name and address. When necessary to make effective the

provisions of this Section, the recipient of income shall, upon demand of the person paying

income, furnish his full and correct name and address.

D. Withholding of tax at source. (1) The secretary, whenever it is deemed necessary

to ensure compliance with the provisions of this Chapter, may require the United States, the

state of Louisiana or any other state or any political subdivision, agency or instrumentality

of the foregoing, or any person having control, receipt, custody, disposal or payment of

interest, other than interest coupon payable to the bearer, rent, salaries, wages, premiums,

annuities, compensation, remunerations, emoluments, or other fixed or determinable annual

or periodical gains, profits, and income, paid or payable to any person, to deduct and

withhold as tax an amount determined by the secretary, to be payable from such person and

make return thereof and pay the tax to the secretary.

(2)(a) The motion picture investor tax credit pursuant to R.S. 47:6007 awards a tax

credit for investments made and used for production expenditures in this state for state-certified productions. Therefore, any individual receiving any payments for the performance

of services used directly in a production activity, which payments shall be claimed as a

production expenditure for purposes of certification of tax credits, is deemed to be receiving

Louisiana taxable income whether directly or indirectly through an agent or agency, loan-out

company, a personal service company, an employee leasing company, or other entity and

therefore these payments are subject to the withholding requirements of state and federal law

and regulations.

(b) Any motion picture production company, motion picture payroll services

company, or other entity making or causing to be made payments as provided in

Subparagraph (a) of this Paragraph, to an individual, or to an agent or agency, loan-out

company, personal service company, employee leasing company, or other entity is considered

to be paying compensation taxable by the state of Louisiana. For purposes of eligibility as

a production expenditure, the payor shall withhold taxes from those payments, excluding any

amount that is otherwise not subject to the withholding requirements imposed pursuant to

federal and state laws and regulations, at the rate determined in accordance with an

employee's withholding allowance certificate, L-4, or the highest individual rate in effect at

the time if there is no employee withholding allowance certificate, and shall remit these

payments to the department quarterly.

(c) The motion picture production company, motion picture payroll services

company, or other entity required to withhold income taxes as required by this Paragraph

shall electronically report the information required by Items (i) through (iv) of this

Subparagraph and remit the withholdings on all payments provided for in Subparagraphs (a)

and (b) of this Paragraph to the Department of Revenue quarterly. The information reported

as required by this Subparagraph may be provided to the Department of Economic

Development and if provided, shall be subject to the confidentiality provisions of R.S.

47:1508(B)(20). The reports shall contain the following information:

(i) Name, address, and taxpayer identification number of the loan-out company or

other entity.

(ii) Identification of entity type: C Corporation, S Corporation, or Limited Liability

Company with tax type specified.

(iii) Name, address, and social security number of the payee.

(iv) An affirmative statement of whether or not the production company is a related

party to the loan-out company or other entity, and if so, provision of an affidavit stating

under penalty of perjury that the transaction is valued at the same value that an unrelated

party would value the same transaction. If the production company is a related party to the

loan-out company, the report shall also include all of the following information:

(aa) The ownership structure of the loan-out company or other entity.

(bb) An estimate amount of what the loan-out company or other entity will pay the

payee.

Amended by Acts 1960, No. 342, §2; Acts 2015, No. 425, §1; Acts 2015, No. 425,

§2; Acts 2016, No. 662, §§1, 2, eff. June 17, 2016; Acts 2017, No. 384, §1, eff. July 1, 2017.

NOTE: See Acts 2015, No. 425, §2, regarding applicability.

NOTE: See Acts 2016, No. 662, §2, regarding applicability.

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Local Government
Louisiana
3
8
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John Bel Edwards
John Bel Edwards
January 11, 2016 -
Democratic
1-225-342-4404
900 North 3rd Street, Baton Rouge, LA, 70802

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