Louisiana DOR Amends Regulations on Mandatory Electronic Filing of Hemp-Derived CBD Excise Tax Return, Payment

The Louisiana Department of Revenue Nov. 20 amended regulations on the mandatory electronic filing and payment of hemp-derived consumable products excise tax returns. The rules include measures: 1) changing the name of the tax to “Consumable Hemp Products Tax;" 2) requiring consumable hemp product retailers to electronically file and pay taxes on or before the 20th day following the close of the reporting period, beginning Aug. 1; 3) clarifying penalties for noncompliance with the electronic filing and payment requirements; and 4) allowing penalty waivers if a taxpayer made a good faith attempt and exercised due diligence in initiating the payment. ...