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Louisiana 1029 Sales Form

The Louisiana 1029 Sales Form is a crucial document used for reporting sales tax in the state of Louisiana. Designed for businesses, this form captures essential financial information, including gross sales and allowable deductions, ensuring compliance with state tax regulations. Understanding how to accurately complete this form is vital for maintaining good standing with the Louisiana Department of Revenue.

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The Louisiana 1029 Sales form is an essential document for businesses operating within the state, particularly for those engaged in the sale of tangible personal property. This form is specifically designed for reporting sales tax obligations and must be utilized for filing periods beginning August 2020 and onward. It captures various aspects of sales transactions, including gross sales, costs associated with tangible personal property, and revenues from leases, rentals, and services—though motor vehicle leases and rentals are excluded and require electronic filing. The form also outlines the process for calculating allowable deductions, which can significantly reduce the taxable amount. Taxpayers must carefully document their gross sales and deductions to determine the total tax due, which is calculated at a rate of 4.45%. Additionally, the form includes provisions for vendor compensation, penalties, and interest, ensuring that businesses remain compliant with state regulations. Completing the Louisiana 1029 Sales form accurately is crucial, as it serves not only as a tax return but also as a declaration of compliance with state tax laws.

Louisiana 1029 Sales Example

R-1029 (7/22)

FOR OFFICE USE ONLY. Field flag

Louisiana Department of Revenue

Sales Tax Return

Location address:

ADDRESS

CITY

STATE

ZIP

ACCOUNT

NUMBER

LEGAL NAME

Do not use this form

TRADE NAME

for filing periods

prior

MAILING ADDRESS

UNIT TYPE

UNIT NUMBER

to July 2022.

CITY

STATE

ZIP

Filing period

FOREIGN NATION, IF NOT UNITED STATES (DO NOT ABBREIVATE)

Please use blue or black ink.

U.S. NAICS

Code

Round to the nearest dollar. Do not use dashes.

Gross sales of tangible personal property

Cost of tangible personal property

(Used, consumed, or stored for use or consumption in Louisiana.)

(a) Leases and rentals of tangible personal property

3(a)

(Do not include motor vehicle leases or rentals, which must be filed electronically.

See instructions.)

(b) Taxable services

3(b)

Total leases, rentals, and taxable services (Add Lines 3(a) and 3(b).)

Total (Add Lines 1, 2, and 3.)

Total allowable deductions (From Line 32, Schedule A. Do not

include as a deduction any item not reported on either Line 1, 2, or 3.)

Amount taxable (Subtract Line 5 from Line 4.)

Tax due (Multiply amount on Line 6 by 4.45%.)

Excess tax collected (Do not include local sales tax.)

Total (Add Line 7 and Line 8.)

Vendor’s compensation 0.944% (0.944% of Line 9 if not delinquent. Limited to $1500. The

0.944% rate is the equivalent of 4 cents out of 4.45 cents of the 1.05% V.C. rate. See instructions.)

Net tax due (Subtract Line 10 from Line 9.)

(a) Donation to The Louisiana Military Family Assistance Fund

11(a)

(Enter the amount from Line 33 from the back of the return.)

Penalty (See instructions.)

Interest (See instructions.)

Total payment due (Add Lines 11, 11(a), 12, and 13.)

Mark this box if

payment made

Make payment to: Louisiana Department of Revenue.

electronically.

WEB	PAY THIS AMOUNT (DO NOT SEND CASH.) u	14
		14

Each physical location must register to

obtain a separate Revenue Account ID.

Taxpayer’s FEIN

Final

Enter date

business

return

sold/terminated.

Parent Company FEIN

	If amended return,	42273
	mark this box.	42273
	mark this box.

R-1029 (7/22)

Allowable Deductions – Schedule A		Total Sales
Allowable Deductions – Schedule A

15	Intrastate telecommunication services
	(Do not include prepaid telephone cards.)
	(Do not include prepaid telephone cards.)


16	Interstate telecommunication services


17	Prepaid telephone cards


18	Electricity and natural gas or energy for non-
	residential use


19	Steam and bulk or utility water used for non-
	residential purposes


20	Boiler fuel for nonresidential use
	(See instructions.)


21	Sales/purchase/leases/rentals of manufactur-
	ing machinery or equipment

22	Sales to U. S. government and Louisiana
	state and local government agencies


23	Sales of prescription drugs


24	Sales of food for home consumption


25	Electricity, natural gas, and bulk water for
	residential use


26	Sales in interstate commerce


27	Sales for resale


28	Cash discounts, sales returns and
	allowances

29	Tangible personal property sold for lease or
	rental (See instructions.)


30	Sales of gasoline, diesel, and motor fuel
	(Sales for resale must be reported on Line 27.)

31	Total from SCHEDULE A-1
	(Transactions taxed at 0%.)

Percent Exempt

22.472%

44.944%

22.472%

55.056%

100%

32 Add Lines 15 through 31; enter here and on Line 5.

33(a) Donation of Vendor’s Compensation	33(b) Donation in Addition to Tax Due
The Military Family
Assistance Fund
Worksheet
33 Total Donation (Add Lines 33(a) and 33(b)) Enter here and on Line 11(a) on front of return		33

Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Signature

Print Name

	Date (mm/dd/yyyy)
Title	Telephone

PAID

PREPARER USE ONLY

Print Preparer’s Name

Preparer’s Signature

Date (mm/dd/yyyy)

Check if

Self-employed

Firm’s Name ➤

Firm’s EIN ➤

Firm’s Address ➤

Telephone ➤

PTIN, FEIN, or LDR account	For Office
number of paid preparer	Use Only.
Louisiana Department of Revenue Post Office Box 3138	Baton Rouge, LA 70821-3138

This return is due on or before the 20th day following the taxable period covered and becomes delinquent on		42274
the first day thereafter. If the	due date falls on a weekend or holiday, the return is due the next business day and
becomes delinquent the first	day thereafter.

R-1029 (7/22)

		Enter your Louisiana Revenue Account Number:


		Schedule A-1: Transactions Subject To 0% Tax

Description				Sales Tax	Total Sales
Description			Exemption Code		Total Sales
			Exemption Code


1


2


3


4


5


6


7


8


9


10


11


12


13


14


15


16


17


18


19


20


21	Add Lines 1 - 20; enter here and on Line 31 of Schedule A, under the Total Sales column.

42275

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Documents used along the form

When filing the Louisiana 1029 Sales form, several other forms and documents may be required to ensure compliance with state tax regulations. Each of these documents serves a specific purpose and can help streamline the filing process. Below is a list of commonly used forms that accompany the Louisiana 1029 Sales form.

Schedule A: This schedule details allowable deductions from gross sales, such as sales of prescription drugs or food for home consumption. It helps taxpayers accurately calculate the taxable amount.
Schedule A-1: This schedule is used for transactions that are subject to a 0% tax rate. It lists specific sales that qualify for this exemption, ensuring that businesses do not pay tax on these transactions.
Vendor's Compensation Worksheet: This document calculates the vendor's compensation based on the total tax collected. It helps businesses determine their compensation amount, which can reduce their overall tax liability.
Operating Agreement Form: For those establishing an LLC, our comprehensive Operating Agreement template provides essential guidelines for structuring your business.
Amended Return Form: If there are errors in the original filing, this form allows taxpayers to correct mistakes. It is essential for maintaining accurate records and ensuring compliance.
Sales Tax Exemption Certificate: This certificate is provided to vendors by buyers who qualify for tax-exempt purchases. It serves as proof that the buyer is exempt from sales tax for specific transactions.
Payment Voucher: This document is used when making tax payments. It helps ensure that payments are correctly applied to the taxpayer's account and can simplify the payment process.
Taxpayer Registration Form: New businesses must complete this form to register with the Louisiana Department of Revenue. It establishes the business's tax account and allows for proper tracking of sales tax obligations.

Understanding these accompanying documents can greatly assist in the sales tax filing process in Louisiana. By ensuring that all necessary forms are completed and submitted correctly, taxpayers can avoid potential penalties and streamline their compliance efforts.

Key takeaways

When filling out the Louisiana 1029 Sales form, it is important to follow specific guidelines to ensure accurate reporting. Here are key takeaways to consider:

Filing Period: This form is only applicable for filing periods starting from August 2020. Do not use it for earlier periods.
Location Address: Provide the correct location address where the sales occurred to avoid processing delays.
Gross Sales: Report the total gross sales of tangible personal property accurately in Line 1.
Allowable Deductions: Only include deductions from Line 34 of Schedule A that correspond to the sales reported in Lines 1 through 3.
Tax Calculation: The tax due is calculated by multiplying the amount taxable (Line 6) by 4.45%.
Vendor’s Compensation: If the return is not delinquent, calculate the vendor’s compensation as 0.944% of Line 9, with a maximum limit of $1,500.
Payment Instructions: Payments should be made electronically to the Louisiana Department of Revenue. Do not send cash.
Signature Requirement: The form must be signed and dated by the preparer, confirming the accuracy of the information provided.
Due Date: The return is due on or before the 20th day following the taxable period. If this date falls on a weekend or holiday, the due date shifts to the next business day.

Following these guidelines will help ensure compliance with Louisiana sales tax regulations. Careful attention to detail is essential for accurate reporting and timely submissions.

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