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Rs 47:61 Deductions From Gross Income; Losses By Corporations

§61. Deductions from gross income; losses by corporations

In computing the net income of corporations, deductions shall be allowed for losses sustained during the taxable year and not compensated for by insurance or otherwise. The basis for determining the amount of deduction for such losses shall be the adjusted basis provided in R.S. 47:139 for determining the loss from the sale or other disposition of property.

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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

Keywords
loss
losses
deduction
determining
sustained
insurance
taxable
compensated
allowed
basis