Louisiana Revised Statutes 47:300.5 – Fiduciary responsibility
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Terms Used In Louisiana Revised Statutes 47:300.5
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- estate: means a trust or estate, or fiduciary thereof. See Louisiana Revised Statutes 47:300.10
- Fiduciary: A trustee, executor, or administrator.
The fiduciary of an estate or trust shall be personally liable for the payment of all taxes, penalties, or interest due under this Part by the estate or trust. This Section shall not subject the fiduciary to liability for any tax imposed upon any beneficiary of the estate or trust.
Acts 1996, No. 41, §1, eff. for taxable periods beginning after Dec. 31, 1996; Acts 1998, No. 61, §1, eff. for taxable periods beginning after Dec. 31, 1997.
NOTE: FOR TAXABLE PERIODS BEGINNING PRIOR TO JAN. 1, 1998, THE TAX SHALL BE AS REQUIRED BY LAW PRIOR TO JAN. 1, 1997.