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 47:51 Exclusions From Gross Income; Governmental Subsidies

NOTE: §51 eff. until June 30, 2018. See Acts 2015, No. 123, §6.

§51. Exclusions from gross income; governmental subsidies

Seventy-two percent of 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 shall not be included in gross

income and shall be exempt from taxation under this Chapter. All expenses of operating the

transit system incurred by the corporation shall be deductible in arriving at net income.

NOTE: This Section as enacted by Acts 2015, No. 123, §§3, 6, eff. July 1,

2018.

§51. Exclusions from gross income; governmental subsidies

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 shall not be included in gross income and shall

be exempt from taxation under this Chapter. All expenses of operating the transit system

incurred by the corporation shall be deductible in arriving at net income.

Added by Acts 1979, No. 300, §1; Acts 2015, No. 123, §1, eff. July 1, 2015; Acts

2015, No. 123, §3, eff. July 1, 2018.

NOTE: See Acts 2015, No. 123, §5, re: 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
transportation
income
operating
corporation
governmental
gross
taxation
funds
federal
engaged