Form CIFT620 for s corp. in Louisiana

[TRACEYG]

Hi, 

My client is a New York Base S corp. in rental properties business. The S Corp owned properties in NY and Louisiana and renting out to other businesses . Does S corp. in Louisiana subject to franchise tax

I saw there are Line 5C franchise taxable base and line 6 which is amount of assessed value of real and personal property in LA on form CIFT620, if the company franchise base is negative (company retained earning is loss) , do we need to enter the assess value of real property in LA (positive)to calculate the franchise tax.

thanks,

Tracey