Terms Used In Louisiana Revised Statutes > Title 47 > Subtitle II > Chapter 1 > Part II-A > Subpart B - Computation of Louisiana Taxable Income

• Agricultural plant: means any facility which receives raw agricultural products for the purpose of rendering them suitable for wholesale or retail marketing. See Louisiana Revised Statutes 3:263
• Agricultural producer: means a person engaged in agriculture for the planting, growing, harvesting, or production of an agricultural product in its natural state and who primarily assumes the production and market risks associated with such activities. See Louisiana Revised Statutes 3:263
• Agriculture: means the commercial planting, growing, harvesting, production, storage, processing, marketing, distribution, or export of any agricultural product, including but not limited to farm products, livestock and livestock products, poultry and poultry products, milk and dairy products, fruit and other horticultural products, and seafood and aquacultural products. See Louisiana Revised Statutes 3:263
• Agriculture: means the commercial production, storage, processing, marketing, or distribution of any agronomic, floricultural, horticultural, vitacultural, silvicultural, or aquacultural crop, including but not limited to farm products, livestock and livestock products, poultry and poultry products, milk and dairy products, fruit and other horticultural products, and seafood and aquacultural products. See Louisiana Revised Statutes 3:292
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Applicant: means a person or place of business that makes a formal application for a license, permit, certification, registration, or certificate issued pursuant to this Title. See Louisiana Revised Statutes 3:1
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Aquaculture: means the commercial production, storage, processing, marketing, distribution, or export of any seafood including but not limited to catfish, trout, crustaceans, and mollusks. See Louisiana Revised Statutes 3:263
• Aquaculture: means the producing, raising, managing, harvesting, or  marketing of aquatic livestock under controlled circumstances. See Louisiana Revised Statutes 3:292
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authority: means the Louisiana Agricultural Finance Authority created by this Chapter. See Louisiana Revised Statutes 3:263
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the Louisiana Equine Promotion and Research Advisory Board. See Louisiana Revised Statutes 3:2073
• Chambers: A judge's office.
• Commissioner: means the Louisiana Commissioner of Agriculture and Forestry. See Louisiana Revised Statutes 3:263
• Commissioner: means the commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:2073
• Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. ^{Source: OCC}
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:263
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:292
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Dependent: A person dependent for support upon another.
• dividend: when used in this Chapter (except in La. See Louisiana Revised Statutes 47:159
• Equine: means all members of the genus Equus, regardless of age, including horses, ponies, mules, donkeys, and zebras. See Louisiana Revised Statutes 3:2073
• Equine event: means any kind of show, exposition, contest, or tournament where equines are shown competitively. See Louisiana Revised Statutes 3:2073
• Equine facility: means any facility used to host equine events. See Louisiana Revised Statutes 3:2073
• Equine performance: means any discipline within the equine industry where equines are used competitively or in exhibition. See Louisiana Revised Statutes 3:2073
• Equine research: means any scholarly activity conducted to collect scientific data utilizing experimental design. See Louisiana Revised Statutes 3:2073
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• 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
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Funding: means grants, loans, or a combination of grants and loans. See Louisiana Revised Statutes 3:296
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• gross allocable income or loss: means the general class of gross income designated as allocable income by La. See Louisiana Revised Statutes 47:287.701
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Healthy food retailers: means for-profit or not-for-profit retailers that sell high quality fresh fruits and vegetables at competitive prices including but not limited to supermarkets, grocery stores, and farmers' markets. See Louisiana Revised Statutes 3:296
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lending institution: means any bank, bank or trust company, federal land bank, production credit association, bank for cooperatives, building and loan association, homestead, insurance company, investment banker, mortgage banker or company, pension or retirement fund, savings bank or savings and loan association, small business investment company, credit union, or any other financial institution authorized to do business in Louisiana or operating under the supervision of any federal agency or any "Edge Act Corporation" or agreement corporation organized or operating pursuant to Section 25 of the Federal Reserve Act. See Louisiana Revised Statutes 3:263
• Livestock: means any animal except dogs and cats, bred, kept, maintained, raised, or used for profit, that is used in agriculture, aquaculture, agritourism, competition, recreation, or silviculture, or for other related purposes or used in the production of crops, animals, or plant or animal products for market. See Louisiana Revised Statutes 3:263
• Louisiana agricultural markets: means any entity in the state of Louisiana, public or private, which in the normal scope of business purchases Louisiana agricultural or aquacultural products. See Louisiana Revised Statutes 3:292
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Net allocable income or loss: means net allocable income or loss earned within or derived from sources within Louisiana and is the mathematical remainder when subtracting from Louisiana gross allocable income or loss:

  (1)  Allowable deductions within the meaning of La. See Louisiana Revised Statutes 47:287.701

• Net apportionable income or loss: means net apportionable income or loss earned within or derived from sources within Louisiana as computed pursuant to La. See Louisiana Revised Statutes 47:287.701
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Other similar services: includes but is not limited to the drilling of oil and gas wells. See Louisiana Revised Statutes 47:287.701
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Person: means an individual or any legal or commercial entity, including a corporation, business trust, partnership, limited liability company, association, or joint venture. See Louisiana Revised Statutes 3:1
• Personal property: All property that is not real property.
• Persons: means any individual, partnership, firm, corporation, company, cooperative, association, society, trust, limited liability company, or any other business unit or entity, including any state or federal agency. See Louisiana Revised Statutes 3:263
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Program: means a public-private partnership established to provide a dedicated source of financing for food retailers that increase access to fresh fruits and vegetables and other affordable healthy food for Louisiana residents managed by the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:296
• Program: means the Louisiana Equine Promotion and Research Program. See Louisiana Revised Statutes 3:2073
• Promotion of the equine industry: means the development of a comprehensive marketing plan for the equine industry including a website, social media, and an advertising program that includes all breeds, disciplines, and equine-related activities. See Louisiana Revised Statutes 3:2073
• Quorum: The number of legislators that must be present to do business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• State: means the state of Louisiana or any agency or instrumentality thereof. See Louisiana Revised Statutes 3:263
• 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
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Therapeutic riding and rehabilitation center: means any Professional Association of Therapeutic Horsemanship International (PATH Intl. See Louisiana Revised Statutes 3:2073
• Total net apportionable income or loss: means the remainder when subtracting from gross apportionable income or loss:

  (1)  Allowable deductions within the meaning of La. See Louisiana Revised Statutes 47:287.701

• Trail facility: means a facility with routes planned specifically for public equine use as well as necessary support areas such as camping facilities. See Louisiana Revised Statutes 3:2073
• Underserved community: means a geographic area that has limited access to healthy food retailers and is located in a lower-income or high-poverty area, or an area that is otherwise determined to have serious healthy food access limitations. See Louisiana Revised Statutes 3:296
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.