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Rs 47:153 Unadjusted Basis; Property Converted From Personal Use

§153. Unadjusted basis; property converted from personal use

In the case of property converted from personal use to business use or to use for profit, the basis shall be the lower of:

(1) the fair market value of such property at the time of the conversion; or

(2) the basis as otherwise determined under R.S. 47:140.

Amended by Acts 1958, No. 242, §9.

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Local Government
Louisiana
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8
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John Bel Edwards
John Bel Edwards
January 11, 2016 -
Democratic
1-225-342-4404
900 North 3rd Street, Baton Rouge, LA, 70802

Keywords
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personal
153
taxation
revenue
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fair
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