Louisiana Revised Statutes 9:2144 – Receipts paid or delivered in return for the use of property forming a part of principal are income, unless this Subpart expressly provides to the contrary.
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Receipts paid or delivered in return for the use of property forming a part of principal are income, unless this Subpart expressly provides to the contrary.
Receipts paid or delivered in consideration for the sale or other transfer of property forming a part of principal or as the replacement of property forming a part of principal are principal unless this Subpart expressly provides to the contrary.
Acts 2020, No. 17, §1, eff. Jan. 1, 2021.