Louisiana Revised Statutes 47:287.75 – Computation of net income
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Terms Used In Louisiana Revised Statutes 47:287.75
- 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.
- 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
The net income of a corporation is computed by subtracting allowable deductions from gross income for a taxable year.
Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.