NOTICE – Tax credits may not be sold or otherwise transferred until certified.

La.R.S.47:6007(C)(1) . . . credits cannot be applied against a tax or transferred until the expenditures are certified by the office and the secretary of the Department of Economic Development. . . . (C)(2)(c)(v) For purposes of allowing tax credits against state income tax liability and transferability of the tax credits, the tax credits shall be deemed earned at the time the expenditures are made, provided that all requirements of this Subsection have been met and after the tax credits have been certified. . . (C)(5)(b) Transferors and transferees shall submit to the office, and to the Department of Revenue in writing, a notification of any transfer or sale of tax credits within thirty days after the transfer or sale of such tax credits. The notification shall include the transferor's tax credit balance prior to transfer, a copy of any tax credit certification letter(s) issued by the office and the secretary of the Department of Economic Development and, in the case of an infrastructure project, to the office, the secretary, and the division of administration, . . . a copy of the credit certificate, . . . (C)(5)(c) Failure to comply with this Paragraph will result in the disallowance of the tax credit until the taxpayers are in full compliance. . . (C)(5)(e) To the extent that the transferor did not have rights to claim or use the credit at the time of the transfer, the Department of Revenue shall either disallow the credit claimed by the transferee or recapture the credit from the transferee through any collection method authorized by R.S. 47:1561. The transferee's recourse is against the transferor.

If you have any questions or need to know if credits have been certified (production or infrastructure) please contact our office at 225.342.5403 or led-entertainment@la.gov.