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Rs 47:74 Items Not Deductible; Shrinkage In Value Of Life Or Terminable Interests

§74. Items not deductible; shrinkage in value of life or terminable interests

Amounts paid under the laws of any state, territory, District of Columbia, possession of the United States, or a foreign country, as income to the holder of a life or terminable interest acquired by a gift, bequest, or inheritance shall not be reduced or diminished by any deduction for shrinkage, by whatever name called, in the value of such interest due to the lapse of time, nor by any deduction allowed by this Chapter, except the deductions provided for in R.S. 47:65 and 47:66, for the purpose of computing the net income of an estate or trust but not allowed under the laws of such state, territory, District of Columbia, possession of the United States, or foreign country, for the purpose of computing the income to which such holder is entitled.

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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
terminable
life
shrinkage
income
value
interests
computing
purpose
holder
allowed