Louisiana Revised Statutes 9:1937 – Definition of annual exclusion
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Terms Used In Louisiana Revised Statutes 9:1937
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
When a trust anticipates future annual additions and refers to the annual exclusion from federal gift tax without stipulating a dollar limitation, the dollar limitation shall be the amount of the exclusion in effect in the year in which the donation is made to the trust.
Added by Acts 1982, No. 423, §1.