Welcome


Law should be interactive.

Rabbit Crowd Library is an experiment in enabling people to interact with the law directly without bias.

Give law accountability. Use - , and to comment and respond to text you agree and disagree with.

0
0
0
Rs 47:287.71 Modifications To Federal Gross Income

§287.71. Modifications to federal gross income

A. There shall be added to gross income determined under federal law, unless

already included therein, the following items:

(1), (2) Repealed by Acts 2005, No. 401, §2.

(3) Any gain on the sale of assets not recognized due to the provisions of Section

633(d) of the Tax Reform Act of 1986 which provides a transitional rule for certain small

corporations.

(4) Any gain not recognized under I.R.C. Section 1033 resulting from the involuntary

conversion of property located in Louisiana not replaced with property located in Louisiana.

(5) Inclusions from Subpart F of this Part, where applicable.

B. There shall be subtracted from gross income determined under federal law, unless

already excluded therefrom, the following items:

(1) Income which Louisiana is prohibited from taxing by the constitution or laws of

the United States.

NOTE: Paragraphs (B)(2) and (3) eff. until July 1, 2018. See Acts 2015, No.

123, §§1, 6.

(2) Seventy-two percent of the funds accrued by a corporation engaged in operating

a public transportation system from any federal, state, or municipal governmental entity to

subsidize the operation and maintenance of such a transportation system.

(3) Seventy-two percent of the refunds of Louisiana corporation income tax received

during the taxable year.

NOTE: Paragraphs (B)(2) and (3) as enacted by Acts 2015, No. 123, §§3, 6,

eff. July 1, 2018.

(2) Funds accrued by a corporation engaged in operating a public transportation

system from any federal, state, or municipal governmental entity to subsidize the operation

and maintenance of such a transportation system.

(3) Refunds of Louisiana corporation income tax received during the taxable year.

(4) Interest on obligations or securities issued by the state of Louisiana or its political

or municipal subdivisions.

(5) Foreign dividend "gross-up". Any amounts required by I.R.C. Section 78 to be

included in gross income.

NOTE: Paragraph (B)(6) eff. until Jan. 1, 2018. See Acts 2017, No. 352, §1.

(6) Amounts received as dividend income from banking corporations organized

under the laws of Louisiana, from national banking corporations doing business in Louisiana,

and from capital stock associations whose stock is subject to ad valorem taxation.

NOTE: Paragraph (B)(6) eff. Jan. 1, 2018. See Acts 2017, No. 352, §1.

(6)(a) Amounts received as dividend income from banking corporations organized

under the laws of Louisiana, from national banking corporations doing business in

Louisiana, and from capital stock associations whose stock is subject to ad valorem taxation.

(b) Amounts received as dividend income by any member of a regulated group of

entities. For purposes of this Subparagraph, the following terms shall have the meanings

ascribed to them:

(i) "Legal entities" shall include, but is not limited to, corporations, limited liability

companies, partnerships, or any other form of business organization.

(ii) "Regulated group of entities" shall mean a group comprised of a parent entity

and any other legal entities in which the parent entity directly or indirectly owns at least fifty

percent of either the vote or the value of the stock, membership interest, partnership interest,

or other ownership interest and in which either one of the following applies:

(aa) One or more of the members of the group is regulated by the Louisiana Public

Service Commission as a telecommunications service provider and at least one of the

members of the group has at any time been party to a contract entered into under the

authority of Chapter 1 of Subtitle V of this Title.

(bb) One or more of the members of the group is regulated by the Louisiana Public

Service Commission as an electric utility.

(7) Exclusions from Subpart F of this Part, where applicable.

(8) Income received by a nonresident business for disaster or emergency-related

work rendered during a declared state disaster or emergency, as defined in R.S. 47:53.5.

Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986; Acts 1987, No. 5, §1, eff.

May 20, 1987; Acts 2005, No. 401, §2, eff. for all taxable periods beginning after Dec. 31,

2005; Acts 2015, No. 123, §1, eff. July 1, 2015; Acts 2015, No. 123, §3, eff. July 1, 2018;

Acts 2016, 1st Ex. Session, No. 1, §1, eff. March 3, 2016; Acts 2017, No. 352, §1, eff. Jan.

1, 2018; Acts 2017, No. 358, §1, eff. July 1, 2017.

NOTE: SEE ACTS 1987, NO. 5, §2.

NOTE: See Acts 2015, No. 123, §5, regarding applicability.

NOTE: See Acts 2016, 1st Ex.Sess., No. 1, §2, regarding applicability.

Share this law:
Facebook Twitter LinkedIn Pinterest Reddit
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
louisiana
income
group
corporation
tax
members
regulated
received
federal
service