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The Orleans Parish Assessor's Office has announced that all businesses operating in Orleans Parish should have received their annual LAT-5 Business Personal Property Self-Reporting Form. Business owners are required by law to report all business personal property, including inventory, furniture, fixtures, machinery, equipment, and other assets, used in their operations for ad valorem tax purposes. Completed forms must be filed by April 1 or within 45 days of receipt, whichever is later.
To streamline compliance, the Assessor's Office has enhanced its online filing system. Businesses that file electronically can now take advantage of a carry-over feature that pre-populates prior-year asset listings, allowing taxpayers to update only assets that were acquired or disposed of since the previous year. These improvements are intended to reduce administrative burdens and minimize reporting errors for business owners.
To further assist taxpayers, the Assessor's Office will host two informational sessions on completing the LAT-5 form and using the e-filing system. The first session will be held in person on Wednesday, March 11, at 9:00 a.m. at City Hall, 1300 Perdido Street, 4th Floor. A second session will be conducted virtually via Zoom on Wednesday, March 18, at 9:00 a.m. Attendance requires advance RSVP by emailing devin.johnson@orleansassessors.com.
LAT-5 forms are available for download on the Assessor's website, but businesses are strongly encouraged to file electronically through the online portal. With the filing deadline approaching, business owners should review their asset records and consult with their tax advisors regarding Orleans Parish personal property tax requirements. For more information, contact Liskow attorneys Bob Angelico, Leon Rittenberg III, Caroline Lafourcade, and Kevin Naccari, and visit Liskow's Tax Practice page.
These improvements are intended to reduce administrative burdens and minimize reporting errors for business owners.
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