Louisiana Revised Statutes 47:287.61 – Gross income defined
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Terms Used In Louisiana Revised Statutes 47:287.61
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal law: means the Internal Revenue Code of 1986, as amended, (Title 26 United States Code) and applicable U. See Louisiana Revised Statutes 47:287.701
- Taxable year: includes , in the case of a return made for a fractional part of a year under the provisions of this Chapter or under regulations prescribed by the collector, the period for which return is made. See Louisiana Revised Statutes 47:98
“Gross income” of a corporation means the same items and the same dollar amount required by federal law to be reported as gross income on the corporation’s federal income tax return for the same taxable year, subject to the modifications specified in this Part, whether or not a federal income tax return is actually filed.
Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.