Revenue Information Bulletin No. 09-045 - Louisiana Individual Income Tax Capital Gains Deduction

Sep 19, 2026

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This Revenue Information Bulletin, issued by the Louisiana Department of Revenue on October 15, 2009, provides formal guidance regarding Act 457 of the 2009 Legislative Session. The bulletin outlines a new individual income tax deduction available for net capital gains derived from the sale or exchange of equity interests in businesses domiciled within Louisiana. It specifies the requirements for taxpayers to claim this deduction, including the necessity of maintaining federal Form Schedule D and supporting documentation such as Schedule K-1 for a period of at least three years. The document serves as an official notification for taxpayers regarding changes in state tax policy and provides contact information for the Special Programs Division to assist with further inquiries. This bulletin is essential for state residents seeking to understand eligibility and record-keeping mandates associated with this specific tax benefit enacted by the state legislature.

LanguageEnglish

CategoryGeneral

FormatPDF

Pages1

AccessFree to download

Revenue Information Bulletin 09-045

Legislative Overview of Act 457

Taxpayer Claim Procedures and Documentation

FAQs

What does Act 457 of the 2009 Louisiana Legislature provide?

Act 457 provides an individual income tax deduction for net capital gains resulting from the sale or exchange of an equity interest in the assets of a business domiciled in Louisiana.

What documentation must a taxpayer retain to claim this deduction?

Taxpayers must retain their federal income tax Schedule D and all supporting documentation, including any Schedule K-1s, for a minimum of three years.

Who should taxpayers contact for more information regarding this bulletin?

Interested parties should contact the Special Programs Division of the Louisiana Department of Revenue at (225) 219-0067.

Sep 19, 2026

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