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Rs 47:242 Segregation Of Items Of Gross Income

§242. Segregation of items of gross income

All items of gross income, not otherwise exempted in this Chapter, shall be

segregated into two general classes.

(1) The class of gross income to be designated as "allocable income" shall include

only the following:

(a) Rents and royalties from immovable or corporeal movable property.

(b) Profits from sales or exchanges of property (including items such as stocks,

bonds, notes, land, machinery, mineral rights) not made in the regular course of business.

(c) Interest income.

(d) Dividends from corporate stock.

(e) Royalties or similar revenue from the use of patents, trade marks, copyrights,

secret processes, and other similar intangible rights.

(f) Income from estates, trusts, and partnerships.

(g) Salaries, wages, or other compensation received by a nonresident individual for

personal services. However, salaries, wages, or other compensation received by a

nonresident individual for personal services rendered during a declared state disaster or

emergency as defined in R.S. 47:53.5 shall not be considered an item of gross income to be

designated as allocable income.

(h) Income from construction, repair, or other similar services. However, income

from construction, repair, or other similar services received by a nonresident corporation for

disaster emergency-related work rendered during a declared state disaster or emergency as

defined in R.S. 47:53.5 shall not be considered an item of gross income to be designated as

allocable income.

(2) The class of income to be designated as "apportionable income" shall include all

items of gross income which are not properly includible in allocable income as defined in

this Section. However, salaries, wages, or other compensation received by a nonresident

individual for personal services rendered during a declared state disaster or emergency and

income from construction, repair, or other similar services received by a nonresident

corporation for disaster or emergency-related work rendered during a declared state disaster

or emergency as defined in R.S. 47:53.5 shall not be considered an item of gross income to

be designated as apportionable income.

Amended by Acts 1958, No. 170, §1; Acts 2017, No. 358, §1, eff. July 1, 2017.

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Local Government
Louisiana
3
8
0
John Bel Edwards
John Bel Edwards
January 11, 2016 -
Democratic
1-225-342-4404
900 North 3rd Street, Baton Rouge, LA, 70802

Keywords
income
item
gross
disaster
services
emergency
nonresident
received
rendered
declared