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Rs 47:241 Net Income Subject To Tax

SUBPART F. NONRESIDENT INDIVIDUALS

AND CORPORATIONS

§241. Net income subject to tax

The net income of a nonresident individual or a corporation subject to the tax

imposed by this Chapter shall be the sum of the net allocable income earned within or

derived from sources within this state, as defined in R.S. 47:243, and the net apportionable

income derived from sources in this state, as defined in R.S. 47:244, less the amount of

federal income taxes attributable to the net allocable income and net apportionable income

derived from sources in this state. The amount of federal income taxes to be so deducted

shall be that portion of the total federal income tax which is levied with respect to the

particular income derived from sources in this state to be computed in accordance with rules

and regulations of the collector of revenue. Proper adjustment shall be made for the actual

tax rates applying to different classes of income and for all differences in the computation

of net income for purposes of federal income taxation as compared to the computation of net

income under this Chapter. Where the allocation of the tax is to be based on a ratio of the

amount of net income of a particular class, both the numerator and the denominator of the

fraction used in determining the ratio shall be computed on the basis that such net income

is determined for federal income tax purposes.

Amended by Acts 1950, No. 445, §1; Acts 1968, No. 106, §8; Acts 1970, No. 258,

§6; Acts 1973, Ex.Sess., No. 8, §1; Acts 2016, 1st Ex. Sess., No. 30, §1.

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Local Government
Louisiana
3
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

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