In response to the 2024 Third Extraordinary Session to address state tax reform, the Louisiana Department of Revenue (the “Department”) issued Revenue Information Bulletin No. 25-009 to clarify that certain exemptions and exclusions were inadvertently repealed due to “technical oversights.”

On the evening of December 23, 2024, FINCEN posted the following notice on its website extending CTA filing deadlines from December 31, 2024, to January 13, 2025 and extending other filing deadlines as set forth below:

“In light of a December 23, 2024, federal Court of Appeals decision, reporting companies, except as indicated below, are

Just in time for Christmas, the U.S. Fifth Circuit Court of Appeals lifted the nationwide injunction on enforcement of the Beneficial Ownership Information Report (“BOI Report”) filing requirements under the Corporate Transparency Act. This presumably means that BOI Reports will be due before January 1, 2025. We will continue to monitor FinCEN in hopes that

Owners of businesses in Louisiana considering a sale or divestiture of their ownership interests or substantially all of the assets of a business entity domiciled in this state should be advised that during the 2024 Third Extraordinary Session the legislature repealed the net capital gains deduction in its entirety.

A federal district court in Texas issued a preliminary nationwide injunction on December 3, 2024, blocking the Corporate Transparency Act (CTA) and its associated regulations, which require U.S. business entities to report beneficial ownership information to the Treasury Department.

The injunction was granted by Judge Amos L. Mazzant III of the U.S. District Court for