Louisiana Revised Statutes 47:287.63 – Allowable deductions defined
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 47:287.63
- 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
“Allowable deductions” for a taxable year means the deductions from federal gross income allowed by federal law in the computation of taxable income of a corporation for the same taxable year, subject to the modifications specified in this Part.
Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.