reglab/housing_qa huggingface dataset:
LA Rev Stat § 47:163 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§163. Closing by collector of taxable year

RS 163 - Closing by collector of taxable year  A. Tax in jeopardy. If the collector finds that a taxpayer designs quickly to depart from the State of Louisiana, or to remove his property therefrom, or to conceal himself or his property therein, or to do any other act tending to prejudice or to render wholly or partly ineffectual proceedings to collect the tax for the taxable year then last past or the taxable year then current unless such proceedings be brought without delay, the collector shall declare the taxable period for such taxpayer immediately terminated and shall proceed to assess and collect any tax due in accordance with the provisions of R.S. 47:1566.  B. Security for payment. A taxpayer who is not in default in making a return or paying any tax under this Chapter, may furnish to the State of Louisiana, under regulations to be prescribed by the collector, security approved by the collector that he will duly make the return next thereafter required to be filed and pay the tax next thereafter required to be paid. The collector may approve and accept in like manner security for return and payment of taxes made due and payable by virtue of the provisions of this Section, provided the taxpayer has paid in full all other income taxes.  C. Exemption from section. If security is approved and accepted pursuant to the provisions of this Section and such further or other security with respect to the tax or taxes covered thereby is given as the Collector shall from time to time find necessary and require, payment of such taxes shall not be enforced by any proceedings under the provisions of this Section or R.S. 47:1566 prior to the expiration of the time otherwise allowed for paying such respective taxes.  D. Citizens. In the case of a citizen of the State of Louisiana about to depart from the State of Louisiana, the collector may at his discretion, waive any or all of the requirements placed on the taxpayer by this Section. E. Departure of nonresident. No nonresident who is liable for any tax under this Chapter shall leave the state for a period of more than ninety days unless he first procures from the collector a certificate that he has complied with all the obligations imposed upon him by this Chapter.  F. Addition to tax. If a taxpayer violates or attempts to violate this Section, there shall, in addition to all other penalties, be added as a part of the tax, twenty-five per centum (25%) of the total amount of the tax or deficiency in the tax, together with interest at the rate of one per centum (1%) per month from the time the tax became due.
LA Rev Stat § 47:165 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§165. Information by corporations

RS 165 - Information by corporations  A. Dividend payments. Every corporation subject to the tax imposed by this Chapter shall, when required by the collector, render a correct return, duly verified under oath, of its payments of dividends, stating the name and address of each shareholder, the number of shares owned by him, and the amount of dividends paid him.  B. Profits declared as dividends. Every corporation shall, when required by the collector, furnish him a statement of such facts as will enable him to determine the portion of the earnings or profits of the corporation (including gains, profits, and income not taxed) accumulated during such periods as the collector may specify, which have been distributed or ordered to be distributed, respectively, to its shareholders during such taxable year as the collector may specify.  C. Accumulated gains and profits. When requested by the collector every corporation shall forward to him a correct statement of accumulated gains and profits and the names and addresses of the individuals, or shareholders who would be entitled to the same if divided or distributed, and of the amounts that would be payable to each.
LA Rev Stat § 47:166 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§166. Returns of brokers

RS 166 - Returns of brokers Every person doing business as a broker shall, when required by the collector, send a return under such rules and regulations as the collector may prescribe, showing the names of customers for whom such person has transacted any business, with such details as to the profits, losses, or other information which the collector may require, as to each of such customers, as will enable the collector to determine whether all income tax due on profits or gains of such customers has been paid. Acts 2001, No. 1032, §15.
LA Rev Stat § 47:167 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§167. Collection of foreign items

RS 167 - Collection of foreign items  All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks or bills of exchange, shall obtain a license from the collector and shall be subject to such regulations enabling the state to obtain the information required under this Chapter as the collector shall prescribe; and whoever knowingly undertakes to collect such payments without having obtained a license therefor, or without complying with such regulations, shall be fined not more than one thousand dollars ($1,000.00) or imprisoned for not more than one year or both.
LA Rev Stat § 47:181 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§181. Imposition of tax on estates and trusts

RS 181 - Imposition of tax on estates and trusts   A. Application of tax. The taxes imposed by this Chapter upon individuals shall apply to the income of estates or of any kind of property held in trust including:   (1) Income accumulated in trust for the benefit of unborn or unascertained person or persons with contingent interests, and incomes accumulated or held for future distribution under the terms of will or trust;   (2) Income which is to be distributed currently by the fiduciary to the beneficiaries, and income collected by a tutor of a minor which is to be held or distributed as the court may direct;   (3) Income received by estates of deceased persons during the period of administration or settlement of the estate; and   (4) Income which, in the discretion of the fiduciary, may be either distributed to the beneficiaries or accumulated.  B. Computation and payment.  (1) The tax shall be computed upon the net income of the estate or trust, and shall be paid by the fiduciary, except as provided in R.S. 47:186, relating to revocable trusts, and R.S. 47:187 relating to income for benefit of the grantor. For return made by the beneficiary see R.S. 47:162.  (2) The amount of a net operating loss for any tax year beginning on or after January 1, 1992, may be deducted from net income in any of the fifteen years immediately following the year in which the loss occurred.  (3) The amount of a net operating loss for any tax year beginning on or after January 1, 2000, may be deducted from net income in any of the twenty years immediately following the year in which the loss occurred.  C. Exceptions. If a trust is a simple trust as defined under Internal Revenue Code Section 651 or a grantor trust as defined under R.S. 47:187, it shall not have to file a Louisiana income tax return if the following conditions are met:   (1) Such trust does not have any net taxable income for the taxable period.  (2) Such trust does not have any nonresident beneficiaries.  Acts 1985, No. 647, §1; Acts 1992, No. 1083, §1, eff. for all open taxable periods; Acts 2015, No. 103, §1, eff. July 1, 2015.  NOTE: See Acts 2015, No. 103, §2, re: applicability.
LA Rev Stat § 47:182 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§182. Net income of estate or trust

RS 182 - Net income of estate or trust  The net income of the estate or trust shall be computed in the same manner and on the same basis as in the case of an individual except that:  (1) There shall be allowed as a deduction in lieu of the deduction for charitable and other contributions authorized by R.S. 47:57, any part of the gross income, without limitation, which, pursuant to the terms of the will or deed creating the trust, is during the taxable year paid or permanently set aside for the purposes and in the manner specified in R.S. 47:57, or is to be used exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals, or for the establishment, acquisition, maintenance or operation of a public cemetery not operated for profit;  (2) There shall be allowed as an additional deduction in computing the net income of the estate or trust the amount of the income of the estate or trust for its taxable year which is to be distributed currently by the fiduciary to the beneficiaries, and the amount of the income collected by a guardian of an infant which is to be held or distributed as the court may direct, but the amount so allowed as a deduction shall be included in computing the net income of the beneficiaries whether distributed to them or not. Any amount allowed as a deduction under this paragraph shall not be allowed as a deduction under paragraph (3) of this Section in the same or any succeeding taxable year;  (3) In the case of income received by estates of deceased persons during the period of administration or settlement of the estate, and in the case of income which, in the discretion of the fiduciary, may be either distributed to the beneficiary or accumulated, there shall be allowed as an additional deduction in computing the net income of the estate or trust the amount of the income of the estate or trust for its taxable year, which is properly paid or credited during such year to any legatee, heir, or beneficiary, but the amount so allowed as a deduction shall be included in computing the net income of the legatee, heir or beneficiary.  (4) The optional standard deduction provided in R.S. 47:68 shall not be allowed to estates or trusts.  Amended by Acts 1950, No. 445, §1.
LA Rev Stat § 47:183 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§183. Credits of estate or trust against net income

RS 183 - Credits of estate or trust against net income  For the purpose of the tax, the estate or trust shall be allowed the same personal exemption as is allowed to a single person under R.S. 47:79A(1).
LA Rev Stat § 47:184 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§184. Different taxable years

RS 184 - Different taxable years  If the taxable year of a beneficiary is different from that of the estate or trust, the amount which he is required under R.S. 47:182B to include in computing his net income, shall be based upon the income of the estate or trust for any taxable year of the estate or trust, whether beginning on, before, or after January 1, 1948, ending within his taxable year.
LA Rev Stat § 47:185 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§185. Employees trusts

RS 185 - Employees trusts  A trust created by an employer as a part of a stock bonus, pension, or profit-sharing plan for the exclusive benefit of some or all of his employees, to which contributions are made by the employer, or employees, or both, for the purpose of distributing to the employees the earnings and principal of the fund accumulated by the trust in accordance with such plan, shall not be taxable under R.S. 47:181, but the amount actually distributed or made available to any distributee shall be taxable to him the year in which so distributed or made available to the extent that it exceeds the amounts paid in by him.
LA Rev Stat § 47:186 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§186. Revocable trusts

RS 186 - Revocable trusts  Where at any time during the taxable year the power to revest in the grantor title to any part of the corpus of the trust is vested either:  (1) In the grantor, either alone or in conjunction with any person not having a substantial adverse interest in the disposition of such part of the corpus or the income therefrom, or  (2) In any person not having a substantial adverse interest in the disposition of such part of the corpus or the income therefrom, then the income of such part of the trust for such taxable year shall be included in computing the net income of the grantor.
LA Rev Stat § 47:187 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§187. Income for benefit of grantor

RS 187 - Income for benefit of grantor  Where any part of the income of a trust:  (1) Is, or in the discretion of the grantor or of any person not having a substantial adverse interest in the disposition of such part of the income, may be held or accumulated for future distribution to the grantor; or  (2) May in the discretion of the grantor or of any person not having a substantial adverse interest in the disposition of such part of the income, be distributed to the grantor; or  (3) Is, or in the discretion of the grantor or of any person not having a substantial adverse interest in the disposition of such part of the income, may be applied to the payment of premiums upon policies of insurance on the life of the grantor (except policies of insurance irrevocably payable for the purposes and in the manner specified in R.S. 47:57, relating to the so-called "charitable contribution" deduction); then such part of the income of the trust shall be included in computing the net income of the grantor.  As used in this Section, the term "in the discretion of the grantor" means "in the discretion of the grantor, either alone or in conjunction with any person not having a substantial adverse interest in the disposition of the part of the income in question."
LA Rev Stat § 47:188 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§188. Imposition of tax on real estate investment trusts; computation

RS 188 - Imposition of tax on real estate investment trusts; computation  The tax imposed by this chapter upon corporations shall be imposed upon real estate investment trusts as defined in R.S. 12:491, and shall be computed only upon that part of the net income of the trust which is subject to federal income tax as provided in sections 857 and 858 of the Federal Internal Revenue Code of 1954, as amended.  Added by Acts 1962, No. 315, §2. Amended by Acts 1972, No. 729, §2.
LA Rev Stat § 47:201 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§201. Partnership informational return of income required; limitations on partner tax liability

RS 201 - Partnership informational return of income required; limitations on partner tax liability  A. Except as otherwise provided in R.S. 47:201.2, a partnership shall not be subject to the income tax imposed by this Chapter, but a partnership shall be required to file an annual informational partnership return of income in accordance with R.S. 47:103(A)(2).  B. Persons carrying on business as partners shall be liable for income tax only in their separate or individual capacities.  Amended by Acts 1958, No. 441, §1; Acts 1975, No. 459, §1; Acts 2021, No. 287, §1, eff. June 14, 2021.
LA Rev Stat § 47:202 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§202. Income of partner

RS 202 - Income of partner  A. General rule. In determining his income tax, each partner shall take into account separately his distributive share, whether or not distributed, of the partnership's:  (1) gains and losses from sales or exchanges of capital assets,  (2) charitable contributions (as defined in R.S. 47:57),  (3) other items of income, gain, loss, deduction, or credit, to the extent provided by regulations prescribed by the collector, and  (4) taxable income or loss, exclusive of items requiring separate computation under other provisions of this Subsection.  B. Character of items constituting distributive share. The character of any item of income, gain, loss, deduction, or credit included in a partner's distributive share under Subsection A(1) through A(3) of this Section shall be determined as if such item were realized directly from the source from which realized by the partnership, or incurred in the same manner as incurred by the partnership.  C. Gross income of a partner. In any case where it is necessary to determine the gross income of a partner for purposes of this Chapter, such amount shall include his distributive share of the gross income of the partnership, whether or not such share has been actually distributed.  Amended by Acts 1958, No. 441, §1.
LA Rev Stat § 47:203 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§203. Partnership computations

RS 203 - Partnership computations  A. Income and deductions. The taxable income of a partnership shall be computed in the same manner as in the case of an individual except that:  (1) the items described in R.S. 47:202 A shall be separately stated, and  (2) the following deductions shall not be allowed to the partnership:  (a) the standard deduction provided in R.S. 47:68,  (b) the deduction for charitable contributions provided in R.S. 47:57,  (c) deductions allowed individuals if they itemize which would not be allowable if they claim the optional standard deduction.  B. Elections of the partnership. Any election affecting the computation of taxable income derived from a partnership shall be made by the partnership.  Amended by Acts 1958, No. 441, §1.
LA Rev Stat § 47:205 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§205. Determination of basis of partner's interest

RS 205 - Determination of basis of partner's interest  A. General rule. The adjusted basis of a partner's interest in a partnership shall, except as provided in Subsection B of this Section, be the basis of such interest determined under R.S. 47:210 (relating to contributions to a partnership) or R.S. 47:216 (relating to transfers of partnership interests).  (1) increased by the sum of his distributive share for the taxable year and prior taxable years of:  (a) taxable income of the partnership as determined under R.S. 47:203A,  (b) income of the partnership exempt from tax under this Chapter, and  (c) the excess of the deductions for depletion over the basis of the property subject to depletion; and  (2) decreased (but not below zero) by distributions by the partnership as provided in R.S. 47:214 and by the sum of his distributive share for the taxable year and prior taxable years of:  (a) losses of the partnership, and  (b) expenditures of the partnership not deductible in computing its taxable income and not properly chargeable to capital account.  B. Alternative rule. The collector shall prescribe by regulations the circumstances under which the adjusted basis of a partner's interest in a partnership may be determined by reference to his proportionate share of the adjusted basis of partnership property upon a termination of the partnership. Amended by Acts 1950, No. 445, §1; Acts 1958, No. 441, §1.
LA Rev Stat § 47:206 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§206. Taxable years of partner and partnership

RS 206 - Taxable years of partner and partnership  A. Year in which partnership income is includible. In computing the taxable income of a partner for a taxable year, the inclusions required by R.S. 47:202 and R.S. 47:207C with respect to a partnership shall be based on the income, gain, loss, or deduction of the partnership for any taxable year of the partnership ending within or with the taxable year of the partner. B. Adoption of taxable year.  (1) Partnership's taxable year. The taxable year of a partnership shall be determined as though the partnership were a taxpayer. A partnership may not change to, or adopt, a taxable year other than that of all its principal partners unless it establishes, to the satisfaction of the collector, a business purpose therefor.  (2) Partner's taxable year. A partner may not change to a taxable year other than that of a partnership of which he is a principal partner unless he establishes, to the satisfaction of the collector, a business purpose therefor.  (3) Principal partner. For the purpose of this Subsection, a principal partner is a partner having an interest of 5 per cent or more in partnership profits or capital.  C. Closing of partnership year.  (1) General rule. Except in the case of a termination of a partnership and except as provided in Subsection C(2) of this Section the taxable year of a partnership shall not close as the result of the death of a partner, the entry of a new partner, the liquidation of a partner's interest in the partnership, or the sale or exchange of a partner's interest in the partnership.  (2) Partner who retires or sells interest in partnership.  (a) Disposition of entire interest. The taxable year of a partnership shall close only:  (i) with respect to a partner who sells or exchanges his entire interest in a partnership, and  (ii) with respect to a partner whose interest is liquidated, except that the taxable year of a partnership with respect to a partner who dies shall not close prior to the end of the partnership's taxable year.  Such partner's distributive share of items described in R.S. 47:202 A for such year shall be determined, under regulations prescribed by the collector, for the period ending with such sale, exchange, or liquidation.  (b) Disposition of less than entire interest. The taxable year of a partnership shall not close (other than at the end of a partnership's taxable year as determined under Subsection B(1) of this Section with respect to a partner who sells or exchanges less than his entire interest in the partnership or with respect to a partner whose interest is reduced, but such partner's distributive share of items described in R.S. 47:202 A shall be determined by taking into account his varying interest in the partnership during the taxable year.  Amended by Acts 1958, No. 441, §1.
LA Rev Stat § 47:207 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§207. Transactions between partner and partnership

RS 207 - Transactions between partner and partnership  A. Partner not acting in capacity as partner. If a partner engages in a transaction with a partnership other than in his capacity as member of such partnership, the transaction shall, except as otherwise provided in this Section, be considered as occurring between the partnership and one who is not a partner.  B. Certain sales or exchanges of property with respect to controlled partnerships.  (1) Losses disallowed. No deduction shall be allowed in respect of losses from sales or exchanges of property (other than an interest in the partnership), directly or indirectly, between:  (a) a partnership and a partner owning, directly or indirectly, more than 50 per cent of the capital interest, or the profits interest, in such partnership, or  (b) two partnerships in which the same persons own, directly, or indirectly, more than 50 per cent of the capital interests or profits interests. C. Guaranteed payments. To the extent determined without regard to the income of the partnership, payments to a partner for services or the use of capital shall be considered as made to one who is not a member of the partnership, but only for the purposes of R.S. 47:42 (relating to gross income) and R.S. 47:62 (relating to trade or business expenses).  Added by Acts 1958, No. 441, §2.