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Louisiana Partnership Return of Income Form

The following form has to be completed and submitted by any partnership that is generating income in the State of Louisiana.


Extracted Text for Proper Search

with Instructions and Form IT-565B Apportionment of Income Schedule	
Louisiana Department of Revenue • P.O. Box 3440 • Baton Rouge, LA  70821-3440 	 	I	T-565 (1/13)

Page 1	
Partnerships not required to file a return
A partnership return is not required if all partners are natural persons 
who are residents of Louisiana (R .S. 47:201).
Partnerships that must file a return
Any partnership doing business in Louisiana or deriving any income 
from sources therein, regardless of the amount and regardless of the 
residence of the partners, must file a return of income on Form IT-565 
if any partner is a nonresident of Louisiana or if any partner is not a 
natural person. If the partnership has income that is derived from sources 
partly within and partly outside of Louisiana, Form IT-565B must be 
filed with Form IT-565. The term “partnership” includes syndicates, 
groups, pools, joint ventures, or other unincorporated organizations, 
through or by means of which any business, financial operation, or 
venture is carried on, and that are not trusts, estates, or corporations 
within the meaning of the Louisiana Income Tax Law. 
Income tax returns of partners
Each partner that is a natural person must include on his individual 
return, his distributive share, whether or not such share is distributed 
to or withdrawn by the partner, the net income of the partnership 
during the partnership’s accounting period (whether fiscal or calendar 
year), that ended during his taxable year (whether fiscal or calendar 
year). Form IT-540 is for resident individuals. A nonresident member 
of a partnership who does not have a valid agreement on file with LDR 
must be included in a Composite Partnership Return (Form R-6922). 
Nonresident partners who have a valid agreement or who have other 
income derived from Louisiana sources, must include all income derived 
from Louisiana sources on Form IT-540B. 
Individuals should use the information reported on the federal 
partnership return instead of the amounts shown in the partners’ 
allocation schedule. Corporations should refer to LRS-47:287.93(A)(5).
When and where the return must be filed
Returns for a calendar year must be filed with the Department of 
Revenue, Box 3440, Baton Rouge, LA 70821-3440, on or before May 
15 of the year following the close of the calendar year. Returns for fiscal 
years must be filed on or before the 15th day of the fifth month after 
the close of the fiscal period.
Period to be covered by return
The return must be filed for a calendar year, or for a fiscal year of 12 
months, ending on the last day of any month other than December, 
or for an annual period of 52/53 weeks, if records are kept on this 
basis. You must clearly indicate the beginning and ending dates being 
covered at the top of the return. The accounting period established 
on the first return must be adhered to for subsequent years under 
Louisiana Income Tax Law, unless permission to make a change is 
received from the Secretary of Revenue.
A change by any partnership from one taxable year to another, or the 
adoption by a new partnership for an initial taxable year, must meet the 
provisions of R .S. 47:206(B)(1). A change by a principal partner from 
one taxable year to another must meet the provisions of R .S. 47:206(B)(2). A principal partner is one who has an interest of five percent or more 
in the partnership profits or capital.	
Accrued or received income
If records are kept on an accrual basis, report all income accrued, even 
though it has not been actually received or entered in the records, and 
report all expenses incurred, not just expenses paid.
If records do not show income accrued and expenses incurred, report 
all income received or constructively received, such as bank interest 
credited to your account and expenses paid.
The penalty for willfully making a false or fraudulent return or for 
willful failure to make and file the return on time shall not be more 
than $1,000, or imprisonment for not more than one year, or both, 
and shall include the costs of prosecution.
Income items exempt from tax
The following are some types of income that are exempt from Louisiana 
income tax and should not be included in gross income:
 mounts received under a life insurance contract paid by reason 
of the death of the insured and paid at the death of the insured. 
For treatment of amounts paid at a date later than death, see R .S. 
 at portion of an annuity that represents a return of the taxpay -
er’s investment. (See R .S. 47:44.)
 s (not received as a consideration for services rendered) and 
money and property acquired by bequest, devise, or inheritance. 
However, the income derived from such property is taxable.
 nterest on obligations of the United States Government and/or 
its instrumentalities.
 nterest on obligations of the State of Louisiana and its political 
or municipal subdivisions to the extent as is now exempt by law.
List in Schedule K all items of income reported on your Federal return, 
but not on your Louisiana return.
Information at the source
Any person, firm, partnership, trust, corporation, or organization 
making payments totaling $1,000 or more during any calendar year for 
lease bonuses, delay rentals, and/or royalties respecting mineral leases 
affecting lands located in Louisiana and rentals paid with respect to 
real property located in Louisiana to a nonresident individual or a firm, 
partnership, trust, corporation, or organization not located in Louisiana 
shall file an information return with the Secretary of Revenue on or 
before June 1 of the following year for each such payee. The return shall 
include the name, address, Federal Employer Identification Number, 
and/or Social Security Number of both the payor and payee. There 
shall also be included the amount and description of payments to 
each such payee. The Federal Information Return Form (Form 1099) 
for reporting such payments may be used for reporting the required 	
IT-565i (1/13)	
Instructions for Completing Form IT-565 Partnership Return of Income	
Louisiana Department of Revenue
P. O. Box 3440
Baton Rouge, LA 70821-3440

information. Federal Form 1099 shall be accompanied by Federal 
Form 1096 furnishing the payor’s name, address, Federal Employer 
Identification Number, and/or Social Security Number and the number 
of Forms 1099 enclosed. Informational returns reporting other items of 
income that would normally appear on Federal Form 1099 are required 
only upon the specific request of the Secretary of Revenue.
Gross income and deductions
Line 1	 	G	ross Sales — Print the gross sales, less goods returned, and any 
allowance or discounts from the sale price if engaged in business 
where inventories are an income-determining factor.
Line 2	

of  Goods  Sold  — Print the cost of goods sold as 
determined on Schedule A on Page 2 of the return.

f the production, purchase, or sale of merchandise is an 
income-producing factor in the trade or business, inventories 
of the merchandise on hand should be taken at the beginning 
and end of the taxable year. The inventories may be valued 
using either the cost method, or the lower of cost or market 
method. If the inventories reported do not agree with the 
inventories in the records, attach a statement explaining how 
the difference occurred.
Line 3
 ross Profit from Sales — Print on Line 3 the gross profit, 
that is obtained by deducting Line 2, the cost of goods sold 
as extended, from Line 1, the gross sales.

f the installment method is used, attach a schedule to the 
return showing the following information separately for 
the current year and each of the three preceding years: (a) 
Gross sales; (b) Cost of goods sold; (c) Gross profits; (d) 
Percentage of profits to gross sales; (e) Amount collected; 
and, (f ) Gross profit on amount collected. Print on Line 3 
the gross profit on collections made during the current year. 
[See R .S. 47:94(A).]
Line 4
 ncome (or loss) from Other Partnerships, Syndicates, etc. 
Print the partnership’s distributive share (whether or not 
distributed) of the profits of another partnership’s capital 
gains or losses. If the distributive share is a loss, the loss is 
limited to the amount of the adjusted basis of such partner’s 
interest in the other partnership at the end of the partnership 
year in which such loss occurred. If the taxable year of the 
return filed does not coincide with the tax year of the other 
partnership, include the distributive share of the net profits 
(or losses) from the other partnership in the tax year in which 
the other partnership’s tax year ends.
Line 5
 vidends  — Print on Line 5 all dividends (except certain 
stock dividends) received from any corporation, regardless 
of whether or not the corporation has paid any income tax 
to Louisiana.
Line 6
 nterest — Print on Line 6 all interest received or credited to 
the partnership during the taxable period on bank deposits, 
notes, mortgages, corporation bonds, and bonds of states, cities, 
and other political subdivisions. Do not include bonds issued 
under authority granted by Acts of the Louisiana Legislature, 
if such Acts provide that the interest on such bonds shall be 
exempt from taxation. Line 7
 ents and Royalties — 
Print on Line 7 the net income (or 
loss) as reported on Schedule B.
Line 8  	
 et  Farm  Profit  (or  Loss)  — 
Print the net profit (or loss) 
from farming. Attach schedule explaining determination of 
profit or loss.
Line 9  	
 rofit or Loss from the Sale of Capital Assets such as Stocks, 
Bonds, Real Estate, etc. — Print the profit from the sale of 
property, including property situated outside of Louisiana, as 
reported on Schedule D of the return.	

escribe the property briefly using Schedule D; give location, 
and state the actual consideration of price received, or the fair 
market value of the property received in exchange. Expenses 
connected with the sale, such as commissions paid agents, may 
be deducted in computing the amount received.	

f a gain or a loss is computed on the sale of property acquired 
before January 1, 1934, both the cost  and the acquired value 
must be shown with information as to how the January 1, 
1934, value was determined, as provided by R .S. 47:155. If 
the amount shown as cost is other than actual cash cost of 
the property sold, full details must be furnished regarding the 
acquisition of the property.	

nter as depreciation, the amount of exhaustion, wear and 
tear, obsolescence, or depletion that has been allowed (but 
not less than the amount allowable) in respect to such 
property since date of acquisition, or since January 1, 1934, 
if the property was acquired before that date. In addition, 
if the property was acquired before January 1, 1934, and if 
the cost of such property is greater than its fair market value 
as of that date, the cost shall be reduced by the depreciation 
actually sustained before that date. [See R .S. 47:156(A).]	

ubsequent improvements include expenditures for additions, 
improvements, and repairs made to restore the property or 
prolong its useful life. Do not include ordinary repairs, interest, 
or taxes in computing gain or loss. 	

o loss shall be recognized in any sale or other disposition 
of shares of stock or securities where the partnership has 
acquired, or contracted to acquire, substantially identical stock 
or securities within 30 days before or after the date of such sale, 
unless the partnership is a dealer in stock or securities in the 
ordinary course of business.	

eduction for losses from sales or exchanges of capital assets 
are allowed only to the extent of the gains from such sales or 
exchanges. (See R .S. 47:72.)
Line 10
 rofit  or  Loss  from  Sale  of  Property  Other  Than  Capital 
Assets —  Print the profit or loss from the sales or exchanges 
of property other than capital assets reported on Schedule E 
of the return, and furnish the information required by the 
Line 9 instructions.
Line 11	

ther Income — Print any other taxable income and explain its 
nature on an attached schedule, except items requiring separate 
computation that are required to be reported on Schedule J. 
Include taxable income from annuities and insurance proceeds.
Line 12
 otal Income — Add the amounts on Lines 3 through 11 and 
print that amount on Line 12.

Line 13	 Sa	laries and Wages — Print all salaries and wages not included as a deduction on Line 3 of Schedule A, except salaries to 
Line 14
 ayments to Partners —  Salaries and Interest (Guaranteed 
Payments) — Print the deduction taken for payments 
to a partner for services or the use of capital where such 
payments are determined without regard to the income 
of the partnership. Do not include distributive share of 
partnership profits. Allocate these profits to the appropriate 
partners in Column 4, Partners’ Allocations, Page 1.
Line 15
 Rent — Print the amount of rent paid on business property 
used in a trade or business activity. Do not deduct rent for a 
dwelling occupied by any partner for personal use.
Line 16
 nterest — Print the amount of interest paid for business 
indebtedness. Amounts paid by a partnership to a partner 
for the use of capital should be printed on Line 14. Amounts 
paid as interest by a partnership to a partner as a result of a 
transaction wherein the partner acts in a capacity other than 
as a partner should be printed on this line. Do not include 
interest incurred to purchase or carry obligations producing 
tax exempt interest. The limitations on deductions for unpaid 
interest are set forth in R .S. 47:75. Show details on Schedule 
Line 17
 axes — Print the amount of taxes paid or accrued during 
the taxable year. Do not include Louisiana income taxes, taxes 
assessed against local benefits that increase the value of the 
property assessed, or taxes not imposed upon the taxpayer 
(R .S. 47:55). Show details on Schedule C.
Line 18
 ses by Fire, Storm, Shipwreck, or Other Casualty, or 
Theft  — Print the amount of losses sustained during the 
year, if arising by fire, storm, shipwreck, or other casualty, 
or from theft, and not compensated for by insurance or 
otherwise, nor reflected in cost of goods sold. [See R .S. 
47:60(3).] Theft losses can be deducted only in the year in 
which the partnership discovers the loss. Attach a statement 
setting forth a description of the property, date acquired, 
cost, subsequent improvements, depreciation allowed or 
allowable since acquisition, insurance, salvage value, and 
deductible loss claimed.
Line 19
 Debts — Print the amount of debts that became bad 
during the year. Bad debts may be deducted either (1) when they 
become wholly or partially worthless; or, (2) by a reasonable 
addition to a reserve for bad debts. No change of method is 
allowed without permission of the Secretary of Revenue.
Line 20
 epairs — Print the cost of incidental repairs, including 
labor, supplies, and other items, that do not add to the value 
or appreciably prolong the life of the property repaired. 
Expenditures for new buildings, machinery, equipment, or 
for permanent improvements or betterments that increase 
the value of the property are chargeable to capital accounts. 
Expenditures for restoring or replacing property are not 
deductible, since such expenditures are chargeable to capital 
accounts or to depreciation reserves.
Line 21	

epreciation Deduction  — Print the amount of depreciation 
computed on Schedule G. A reasonable allowance for the  exhaustion, wear and tear, and obsolescence of property used 
in the trade or business or of property held by the taxpayer for 
the production of income shall be allowed as a depreciation 
deduction. The allowance does not apply to inventories or 
stock-in-trade, or to land apart from the improvements or 
physical development added to it.	
 	The u	

seful life of an asset can be measured in units of 
production, but the ordinary practice is to measure useful 
life in years. Business experience, engineering information, 
and other relevant factors provide a reasonable basis for 
estimating the useful life of property. The cost (or other 
basis) to be recovered should be charged off over the expected 
useful life of the property.	
 	The D	

epartment of Revenue will permit the use of estimated 
lives allowable for federal income tax purposes. The deduction 
of “bonus” or “first-year” depreciation is allowable.	

here are special rules for new assets acquired after 
December 31, 1953. The cost or other basis of an asset 
acquired after December 31, 1953, may be depreciated 
under methods proper in the past; or it may be depreciated 
under any of the following methods, provided (1) that the 
asset is tangible; (2) that it has an estimated useful life of 
three years or more; and, (3) that the original use of the 
asset commenced with the taxpayer and commenced after 
December 31, 1953.	

f an asset is constructed, reconstructed, or erected by the 
taxpayer so that much of the basis of the asset is computed 
in accordance with 47:65(F)(2), and is attributable to 
construction, reconstruction, or erection after December 31, 
1953, the asset may be depreciated under any of the following 
methods, provided that the asset is tangible and has an estimated 
useful life of three years or more:
 eclining balance method — This method may be used 
with a rate not in excess of twice the applicable straight-
line rate.
 um of the years-digit method — Under this method, 
annual allowances for depreciation are computed by 
applying changing fractions to the taxpayer’s cost or 
other basis of property (reduced by estimated salvage 
value). The deduction for each year is computed by 
multiplying the cost or other basis of the asset (reduced 
by estimated salvage value) by the number of years of 
useful life remaining (including the year for which the 
deduction is computed) and dividing the product by 
the sum of all the digits corresponding to the years of 
the estimated useful life of the assets. 
 ther  methods  — A taxpayer may use any consistent 
method that does not result in accumulated allowances 
at the end of the year greater than the total of the ac-
cumulated allowances that would have resulted from 
the use of the declining method. This limitation applies 
only during the first two-thirds of the useful life of the 

f a deduction is claimed for depreciation, Schedule G must 
be completed. When obsolescence is included, state separately 
the amount claimed and the basis upon which it is computed.

Land values or costs must not be included in this schedule, and 
where land and buildings were purchased for a lump sum, the 
cost of the building subject to depreciation must be established. 
The total amount of depreciation allowed on each property in 
prior years must be shown, and if the cost of any asset has been 
fully recovered through previous depreciation allowances, the 
cost of such assets must not be included in the cost shown in 
the schedule of depreciable assets. (See R .S. 47:65 and R .S. 
Line 22
 ortization  — Print the amount of deduction with respect 
to the amortization of the adjusted basis of any emergency 
facility constructed or erected in taxable years beginning after 
December 31, 1955 (R .S. 47:65 (I)), with respect to which the 
Government has issued a certificate of necessity. A statement 
of the pertinent facts should be filed with the return. No 
amortization is permitted with respect to the adjusted basis 
of a grain storage facility or certain expenditures relating 
to research and experiment and trademark and trade name 
Line 23

epletion of Mines, Oil and Gas Wells, Timber, etc. — 
Print the amount of depletion of mines, oil or gas wells, 
timber, etc. If complete valuation data has been filed in 
previous years, file with the return the information neces-
sary to bring the depletion schedule up-to-date, setting 
forth in full a statement of all the transactions bearing on 
the deductions from or additions to the value of physical 
assets during the taxable year, with an explanation of how 
the depletion deduction for the taxable year has been de -
Line 24
 ther Deductions Authorized by Law — Print the amount 
of other authorized deductions for which no space is provided 
elsewhere on Page 1 of the return, exclusive of items requiring 
separate computation and required to be reported on Schedule 
J. Do not deduct losses incurred in transactions that were 
neither connected with the trade or business nor entered into 
for profit. No deduction is allowed for any expense incurred 
to produce income not subject to Louisiana Income Tax. If an 
expense is incurred in part for the production of taxable income 
and in part for the production of tax exempt income, then only 
the portion of the expense that can reasonably be attributed 
to the production of taxable income is deductible.	
 	A p

artnership receiving any exempt income, other than 
interest, or holding any property or engaging in any activ -
ity the income from which is exempt shall submit with its 
return as a part thereof an itemized statement showing 
(1) the amount of each class of exempt income; and, (2) 
the amount of expense items allocated to each such class 
(the amount allocated by apportionment being shown 
Line 25
 otal Deductions  — Add the amounts on Lines 13 through 
24 and print that amount on Line 25.
Line 26
 et Income (or Loss) — Subtract Line 25 from Line 12 and 
print that amount on Line 26.
Line 27
 et  Gain  from  Sale  of  Capital  Assets — Print on Line 27 
the amount of gain from the sale or exchange of capital assets 
found on Line 9. Line 28
 	Or	 dinary Income (or Loss) — Subtract Line 27 from Line 
26 and print the amount on Line 28.
Partners’  Allocations  — This schedule should show complete 
information with respect to all the persons who were members of the 
partnership, syndicate, group, etc., during any portion of the taxable year. 
Although the partnership is not subject to income tax, the members 
thereof are liable for income tax in their separate capacities and are 
taxable upon their distributive shares of the income of the partnership, 
whether distributed or not, and each is required to include his share in 
his return. However, a partner may not claim on his separate return a 
distributive share of loss from a partnership to the extent any such loss 
exceeds the basis of his interest in the partnership. The excess of such 
loss may be claimed for later years to the extent that the basis for the 
partner’s interest is increased above zero. Each partner should be advised 
by the partnership of his share of the income, deductions, and credits as 
shown on Schedule J. Individuals should use the information reported 
on the federal partnership return instead of the amounts shown in 
the partners’ allocation schedule. Corporations should refer to R . S. 
Federal Employer Identification Number — Please supply the employer 
identification number assigned to the partnership by the Internal 
Revenue Service. Print this number in the space provided on Form 
IT-565, page 1.
Federal Net Income  — Print the amount of the partnership’s Federal 
net income reported to the Internal Revenue Service on Form IT-565, 
page 1. This information is required by R .S. 47:103(B).
R .S. 47:103(C) also requires that every taxpayer whose Federal Income 
Tax Return is adjusted must furnish a statement disclosing the nature and 
amounts of such adjustments within 60 days after the Federal adjustments 
have been made and are accepted by the taxpayer.	
The return must be signed by any one of the partners or members. 
If receivers, trustees in bankruptcy, or assignees are in control of the 
property or business of the organization, such receivers, trustees, or 
assignees shall execute the return.
Any person(s), firm, or corporation who prepares a taxpayer’s return must 
also sign. If a return is prepared by a firm or corporation, the return must 
be signed in the name of the firm or corporation. This verification is not 
required where the return is prepared by a regular, full-time employee 
of the taxpayer.

IT-565 (1/13)	
Partnership Return of Income	
(To be filed also by syndicates, pools, joint ventures, etc.)
Louisiana Department of Revenue
P.O. Box 3440
Baton Rouge, LA  70821-3440For calendar year _____________ 
or other taxable year
beginning _________, _________, 
ending _________, _________	
If the partnership has one or more nonresident partners 
and derives income from sources within and without 
the State of Louisiana, secure Form IT-565B for further 
instructions and apportionment of net income.	Kind of business
Records are in care of Address
Cash or accrual basis Located atCity, State, ZIP
Date of organization Federal Employer Identification Number Federal net income	
Gross Income
1.  	Gr	oss receipts or gross sales   $ __________________________________  

 Returns and allowances   [ __________________________________ ]  = $

  Cost of goods sold (Schedule A)

 oss profit (Line 1 less Line 2)

Income (or loss) fr	
 om other partnerships, syndicates, etc. (Attach schedule.)

Dividends (At	
 tach schedule.)

 erest (Attach schedule.)

 ents and royalties (Schedule B)

Net f	
 arm profit (or loss) (Attach schedule.)

Net g	
 ain from sale of capital assets (Schedule D)
 Net g	

ain (or loss) from sale of property other than capital assets (Schedule E)

 Other income (At	
 tach schedule.)
12 .
 otal income (Add Lines 3 through 11.) $
13.	 S	alaries and wages (other than to partners)$
 ayments to partners (salaries and interest)


erest (Explain on Schedule C.)

 axes (Explain on Schedule C.)
 Losses b	

y fire, storm, shipwreck, or other casualty or theft (Attach schedule.)
 Bad debts (Schedule F)	
 20.	 R	

epairs (Attach schedule.)

 eciation (Schedule G)
 22.	 Amor	

tization (Attach schedule.)
 Depletion of mines	

, oil and gas wells, timber, etc. (Attach schedule.)
 Other deductions author	

ized by law (Explain on Schedule H.)

 otal deductions (Add Lines 13 through 24.)  $
 26.	 Net income (or loss) (Subtr	

act Line 25 from Line 12.)

 Net g	
 ain from sale of capital assets (Line 9)
 28.	 Or	

dinary income (or loss) (Subtract Line 27 from Line 26.) $
Partners’ allocation(s)	
Partners filing an individual return should use the information reported on the federal partnership return instead of the amount shown on this schedule.
1. State name and address of each partner 
(Designate nonresident individuals, if any.) 2. Social Security 
Number 3. Ordinary income 
(or loss) 
(Line 28, Page 1) 4. Payments to partners 
(salaries and interest)  (Line 14, Page 1) 5. Net gain from sale 
of capital assets 
(from Schedule D) 6. Percentage of time 
devoted to business	
Total	$ $$ %	
Under the penalties of perjury, I declare that I have examined this return, including all accompanying documents, and to the best of my knowledge 
and belief, it is true, correct, and complete. If prepared by a person other than taxpayer, his declaration is based on all information of which he has any 
Signature of partner or member Telephone Date
Signature of preparer other than partner or member Address City, State, ZIPDate

Page 2	
Schedule A — Cost of goods sold	1. Method of inventory valuation — cost
 	; lower of cost or market 	; 
LIFO 	; other 	. (If other, attach explanation.)

as the method of inventory valuation indicated above the same 
method used for last year?  	
 Yes   	 No 	(If “No” attach explanation.)	
3. If inventory is valued at lower of cost or market, print total cost          $ _______________ and total market valuation $_______________ of 
those items valued at market.
 If closing in

ventory was taken by physical count, print date inventory 
was taken _______________. If not at end of year, attach an explana-
tion of how the end of the year count was determined.
 If closing in

ventory was not taken by a physical count, attach an 
explanation of how inventory items were counted or measured.
 Opening in	


Less: Cost of items withdrawn 
for personal use $$

ost of labor, supplies, etc. $

otal of Lines 1, 2, and 3 $

 Closing inventory $

ost of goods sold. (Print here and on Line 2, 	

age 1.) $	
*If different from last year’s closing inventory, attach explanation.	
Schedule B — Income from rents and royalties	
1. Kind and location of property 2. Amount3. Depreciation
(Explain on Sch. G.) 4. Repairs 
(Explain on Sch. B-1.) 5. Other expenses  
(Explain on Sch. B-1.)	
1.  Total
 Net income (or loss) (C	
 olumn 2 less the sum of Columns 3, 4, and 5. Print on Line 7, Page 1.)	
Schedule B-1 — Explanation of Columns 4 and 5 of Schedule B	
Column Explanation Amount Column ExplanationAmount	
Schedule C — Explanation of interest and taxes (Lines 16 and 17, Page 1)	
Explanation AmountExplanation Amount	
Schedule D — Gain from sale of capital assets (See instructions for Line 9.)	
1. Description of property 2. Date 
acquired3. Date 
sold 4. Gross sales price 5. Depreciation al-
lowed (or allowable) since acquisition or 
Jan. 1, 1934 (Attach  schedule.) 6. Cost or other basis 
and cost of improve- ments subsequent 
to acquisition or Jan.  1, 1934 7. Expense of sale 8. Gain or loss 
(Column 4 plus Column 
5, less the sum of 
Columns 6 and 7)	
Total (Transfer net gain to Line 9, Page 1.) $

Page 3	
Schedule E — Gain or loss from sale of property other than capital assets (See instructions for Line 10.)	
1. Description of property 2. Date acquired3. Date 
sold 4. Gross sales price 5. Depreciation al-
lowed (or allowable) since acquisition or 
Jan. 1, 1934 (Attach  schedule.) 6. Cost or other basis 
and cost of improve- ments subsequent 
to acquisition or Jan.  1, 1934 7. Expense of sale 8. Gain or loss 
(Column 4 plus Column 
5, less the sum of 
Columns 6 and 7)	
Total (Transfer net gain or loss to Line 10, Page 1) $	
Schedule F — Bad debts (See instructions for Line 19.)	
1. Current and 3 
prior years 2. Net profit from business 3. Sales on account 4. Bad debts (See instruc-
tions for Line 19.)If organization carried a reserve
5. Gross amount added  to reserve 6. Amount charged against reserve	
Schedule G — Depreciation (See instructions for Line 21.)	
1. Kind of property (If buildings, state materials of which 
constructed.) Exclude land and other nondepreciable 
property. 2. Date 
acquired 3. Cost or other basis 
(Exclude land.) 4. Depreciation al-
lowed (or allowable)  in prior years 5. Method of comput-
ing depreciation 6. Rate 
(%) or life  (years) 7. Depreciation 
for this year
1.  Total $
  amount of depreciation claimed in Schedules A and B and elsewhere on return
 Balance (P	

rint here and on Line 21, Page 1.) $	
Schedule H — Other deductions (See instructions for Line 24.)	
ExplanationAmountExplanation Amount	
Total (Print here and on Line 24, Page 1.) $

Page 4	
Schedule I — Balance sheets	
Beginning of taxable yearEnd of taxable year	
1	 	Cash
2 Notes and accounts receivable
Less: Reserve for bad debts	
( 	)
(	   )	
(a) Other than last-in, first-out
(b) Last-in, first-out
4 Investments in Government obligations
5 Other current assets — including short-term 
marketable investments (Attach schedule.)
6 Other investments (Attach schedule.)
7 Buildings and other fixed depreciable assets
Less: Accumulated amortization and depreciation	
( 	)
(	   )	
8	 	Depletable  assets
Less: Accumulated depletion	( 	)
(	   )	
9 Land (net of any amortization)
10 Intangible assets (amortizable only)
Less: Accumulated amortization	
( 	)
(	   )	
11	 Other assets (At	tach schedule.)
12 Total assets	
$ $	
Liabilities and Capital
13Accounts payable
14 Mortgages, notes, and loans payable (short term):
(a) Banks
(b) Others
15 Other current liabilities (Attach schedule.)
16 Mortgages, notes, and loans payable (long term):
(a) Banks
(b) Others
17 Other liabilities (Attach schedule.)
18 Partners’ capital accounts
19 Total liabilities and capital $$	
Schedule J — Reconciliation of partners’ capital accounts	
1. Capital account at 
beginning of year 2. Capital contributed 
during year 3. Income not 
in Column 4, plus 
nontaxable income 4. Ordinary income 
(or loss) from Line 28,  Page 1 5. Losses not 
in Column 4, plus un- allowable deductions 6. Withdrawals and 
distributions 7. Capital account 
at end of year	
Totals $ $$$$$$	
Schedule K — Income reported in federal return and omitted from Louisiana return	
Item Amount ItemAmount

IT-565B (1/13)	State of Louisiana
Department of Revenue
of Income Schedule	
Period covered by this return	 ____________________	 	
1. T	otal net income of partnership   ........................................................................\
 dd any Federal income taxes deducted in arriving at net income shown above.	
 Net income fr	

om all sources   ........................................................................\

 Allocable income from all sources (Attach schedule suppor ting each amount entered on  Lines a, b, and c below and Lines 7a, b, and c.)

Net r	
 ents and royalties   ........................................................................\

Net pr	
 ofit from sales or exchanges of proper ty (including such items as 

 ocks, bonds, land, machinery, and mineral rights) not made in the regular 

 se of business   ........................................................................\

Other net allocab	
 le income   ........................................................................\
 Balance-net income subject t	

o apportionment   ........................................................................\
 Net income appor	

tioned to Louisiana (Multiply Line 5 by percent from Line 7, Section D.)   .........................

dd allocable income from Louisiana sources
 	(a) Net r	

ents and royalties   ........................................................................\
(b) Net profit from sales or exchanged proper ty (including such items as stocks,   bonds, machinery, and mineral rights) not made in the regular course of  
 	(c) Ot	

her net allocable income   ........................................................................\

otal net income from Louisiana sources   ........................................................................\
Section A. Computation of Louisiana net income	
Social Security Number, name, and address of each nonresident partner as shown on his return.	Social Security Number or 
Federal Employer ID Number Name and address Distributive share of net income to 
nonresident partner
of beneficial interest	
(a)	 	%	   00
Section B.	

 Distributive shares of nonresident partners	
Name of partnership

y, State, ZIP	




Requirements for filing – This form is to be attached to and filed with 
the Partnership Return (Form IT-565) if any partner who shares in the 
profits or income of the partnership is not a resident of Louisiana and 
a portion of the income is from business or property located outside 
Louisiana. (See General Instructions below.) Please do not write in this space.
Under the provisions of the Louisiana Income Tax Law, nonresident individuals 
are taxed on only the portion of their net income that is derived from property 
located, business transacted, or services rendered in Louisiana. Therefore, 
in the case of a partnership having nonresident partners and having income 
from sources both within and without the State of Louisiana, it is necessary 
that the net income from business, property, or services in Louisiana of the 
partnership be computed so that nonresident individuals participating therein 
may report the proper amount on his individual return (Form IT-540B).
In order to determine the amount of income earned in Louisiana, it is nec-
essary to separate all items of income into two general classes, namely; 
(1) those items that can be allocated directly to the State in which they are 
earned, such as Items 4(a), (b), and (c) in Section A and (2) those items of 
income that arise from business partly without the State. Louisiana’s share  of the first class of items can be determined by direct allocation and entered 
as Items 7(a), (b), and (c) in Section A of this form. But, in the case of net 
income from business partly within and partly without the State, a percent of 
the net income must be apportioned to Louisiana (Item 6 in Section A), on 
the basis of an apportionment percent computed in Section D. However, if 
the Louisiana portion is entirely separable from the remainder, and the use 
of the apportionment method would produce a manifestly unfair result, a 
separate accounting may be made for Louisiana business and the total net 
income therefrom entered as Item 8 in lieu of the apportionment described 
in the previous sentence, if permission to use that method is secured from 
the Secretary. For more precise information concerning the methods of al-
location and apportionment, see Louisiana Revised Statutes 47:241 through 
General Instructions	
Enter in this schedule the name of each nonresident member and his distributive share in the portion of the net income of the partnership allocated to the 
State of Louisiana (Item 8). Each partner's distributive share is deemed to apply ratably to taxable and nontaxable income, and to income from sources 
within, as well as from sources without the State.	
2 0 01

APP	oRTI	onm	EnT oF In	Com	E SCHED	uLE	 	
Section C. Computation of apportionment percent	 	 	(Instructions)
The Louisiana Income Tax Law creates a presumption that the apportionment 
method of reporting must be used in the determination of the net income 
where such net income is apportionable. It is mandatory that the apportion-
ment method be used unless it can be clearly shown that the use of the 
apportionment method produces a manifestly unfair result, and permission 
to use the separate accounting method is granted by the Secretary. The pro-
portion of such income to be attributed to sources within this State should be 
determined by means of an apportionment percent based on the factors set 
forth below. The percent computed in that schedule is the arithmetic average 
of the factors applicable to your operations, which factors depend on your 
principal kind of business.
The “Louisiana Factors” are as follows:
 The Sales and Char	

ges for Services Factor. The Louisiana sales factor 
shall include all sales made in the regular course of business where the 
goods, merchandise, or property is received in this State by the purchaser. 
In the case of delivery by common carrier or by other means of trans-
portation, including transportation by the purchaser, the place where the 
goods are ultimately received after all transportation is completed shall be 
considered as the place at which the goods are received by the purchaser. 
The Louisiana factor shall also include all charges for services performed 
in Louisiana. 2 .
 	The Salar	 ies and Wages Factor. The Louisiana wage factor shall include 
the total salaries, wages, and other personal service compensation paid 
during the taxable year for services rendered in Louisiana in connection 
with the production of apportionable net income. 
3 .
The P	
 roperty Factor. The Louisiana factor shall be the average of the 
value of the taxpayer’s real property and tangible personal property used 
in the production of apportionable income within this State:
 at the beginning of the t	

axable year, and
 at the end of the t	

axable year.
4 .
The Loan F	
 actor. In the case of a loan business, the Louisiana factor 
shall be the amount of loans made in this State during the period for which 
the return is filed.
5 .  Additional Sales Ratio. The apportionment percent of taxpayers whose  net apportionable income is derived primarily from the business of manu-
facturing or merchandising (manufacturing , producing, or sale of tangible 
personal property) is the arithmetical average of four factors which are 
Factors 1, 2, and 3 above with Factor 1 being counted twice.  This provision 
does not apply to certain taxpayers engaged in the production or sale of 
unrefined oil and gas, or certain taxpayers who are subject to tobacco tax.	
For further information relative to these apportionment factors, see R.S. 47:245.	
Section D. Apportionment factors to be used in determining income derived from sources partly within Louisiana
Not all of the following factors should be used. Your principal kind of business determines which factors apply. For air transportation, use factors (1) and (3); 
for pipeline transportation, use factors (1), (2), and (3); for other transportation, use factors (1) and (3); for service enterprises in which the use of property 
is not a material income-producing factor, use factors (1) and (2), otherwise, use factors (1), (2), and (3); for loan businesses, use factors (2) and (4); for 
merchandising, and manufacturing, use factors (1), (2), (3) and (5); and for other businesses use factors (1), (2), and (3).	
1 23
Description of items used as factors Total 
Amount Louisiana  
Amount Percent 
(Col 2  ÷Col 1)
 	Net sales of mer	

chandise and/or charges for services	
 	(a) S	

ales where goods, merchandise, or property is received in Louisiana by the 
 	(b) Char	

ges for services per formed in Louisiana	
 	(c) Other g	

ross apportionable income

 (In Column 1,	

 enter total net sales and charges for services; in Column 2,  	

er total of Lines a, b, and c. Enter ratio in Column 3.)
(a) 	 	.00 .00	
(b) 	.00.00	
(c) 	.00.00	

.00 .00	
2.  W	ages, salaries, and other personal ser vice compensation paid during the year   
 	(Ent	 er amounts in Columns 1 and 2, and ratio in Column 3.)	
.00 .00	%	
3. 	Income t	ax proper ty factor ratio	.00 .00	%	
4. 	Loans made dur	 ing the year  	(Ent	
er amounts in Columns 1 and 2, and ratio in Column 3.)	
.00 .00	%	
5. 	T	axpayers primarily in the business of manufacturing or merchandising enter ratio from Line 1, Column 3	%	
6. 	T	otal percents in Column 3	%	
7. 	A	verage of percents  
(Divide Line 6 by number of factors used. Use result in determining income appor tioned to Louisiana on, Section A, Line 6.)	
Explanation of Louisiana business
1. 	Descr	ibe the nature of your business activity and specify your principle product or service, both in Louisiana and elsewhere.

Louisiana   ________________________________________________________________________\


Elsewhere   ________________________________________________________________________\



e address and descriptions of places of business within Louisiana   ______________________________________________________________

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