|OLG and DCRT
2014-15 through 2018-19
The Atchafalaya Heritage Area has been designated by Congress as a National Heritage Area.
The 25% State Commercial Tax Credit was created in 2002 by the Louisiana Legislature to encourage the redevelopment of income-producing historic buildings in Louisiana's Downtown Development Districts. In 2007, the enabling program legislation was amended to allow historic buildings located in certified Cultural Districts to be program-eligible.
The 25% State Commercial Tax Credit Program is jointly administered by the Louisiana Division of Historic Preservation and the Louisiana Department of Revenue. The Louisiana Division of Historic Preservation acts as an applicant's first point of contact and reviews applications for compliance with the Secretary of the Interior's Standards for Rehabilitation; the Louisiana Department of Revenue reviews project costs. The credit is available for those income-producing buildings that are contributing elements to Downtown Development Districts or certified Cultural Districts. Rehabilitation projects must exceed $10,000 in qualified rehabilitation expenses and must be completed according to the Secretary of the Interior's Standards for Rehabilitation. Once earned, credits are fully transferable and may be carried forward for up to five years.
The State Commercial Tax Credit program sunsets December 31, 2021. The credit will equal 25% of eligible costs and expenses incurred through December 31, 2017; the credit will drop to 20% effective January 1, 2018, regardless of the year in which the property is placed in service.
State Commercial Tax Credit Application
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|Part 1 - Certification of |
|Part 2 - Proposed Work|
|Part 3 - Request for|
The Secretary of the Interior's Standards for Rehabilitation provides a list of ten guidelines that must be met when rehabilitating a historic property for its new, modern use. These Standards must be considered when planning a project that may be eligible for historic rehabilitation tax credits.
Buildings that are at least 50 years old and located within the boundaries of Louisiana's Downtown Development Districts may be eligible for the 25% State Commercial Tax Credit Program.
The Louisiana Department of Revenue provides information on the financial implications of using the 25% State Commercial Tax Credit Program. LDR has issued a wealth of guidance on buildings that are considered qualified for the program and also on how to properly prepare audit information.
A private letter ruling is a written statement issued by the Louisiana Department of Revenue to a taxpayer applying principles of law to the taxpayer's specific set of facts. This type of policy statement is issued only if there is no other guidance that addresses the correct application of the legal principles to the taxpayer's particular situation. LDR has issued a number of private letter rulings on previous historic tax credit issues.
Revenue Information Bulletins
Revenue information bulletins are issued by the Department of Revenue to clarify internal procedures and to clarify laws. LDR has issued two Revenue Information Bulletins on the financial record keeping that must be submitted to their office in order for an applicant to access the 25% State Commercial Tax Credit.
Stacking the Federal and State Commercial Tax Credit Programs
This booklet (left) offers guidance on using both the Federal and State Commercial Tax Credit programs.
Phone (225) 342-8160
Fax (225) 219-9772
Mailing Address: Tax Incentives Staff, Division of Historic Preservation, P.O. Box 44247, Baton Rouge, LA 70804
Overnight Mail: Tax Incentives Staff, Division of Historic Preservation, 4th Floor, 1051 N. Third Street, Baton Rouge LA 70802