reglab/housing_qa huggingface dataset:
LA Rev Stat § 47:53 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§53. Exclusion from gross income; income from carriage on high seas

RS 53 - Exclusion from gross income; income from carriage on high seas  Income received by a corporation, company, firm, domestic or foreign, or by an individual, resident or non-resident, actively and primarily engaged in the business of operating steamships, from the carrying of goods or passengers, or both, in interstate or foreign commerce on the high seas, or from the rental of boats and ships used in the carrying of goods or passengers, or both, in interstate or foreign commerce on the high seas, shall not be included in gross income and shall be exempt from taxation under this Chapter.
LA Rev Stat § 47:53.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§53.1. Recovery of bad debts, prior taxes, and delinquency amounts

RS 53.1 - Recovery of bad debts, prior taxes, and delinquency amounts   Income attributable to the recovery during the taxable year of a bad debt, prior tax, or delinquency amount, to the extent of the amount of the recovery exclusion with respect to such debt, tax, or amount, shall not be included in gross income and shall be exempt from taxation under this Chapter. For the purposes of this Section:   (1) The term "Bad debt" means a debt on account of worthlessness or partial worthlessness of which a deduction was allowed for a prior taxable year.   (2) "Prior tax" means a tax on account of which a deduction or credit was allowed for a prior taxable year.   (3) "Delinquency amount" means an amount paid or accrued on account of which a deduction or credit was allowed for a prior taxable year and which is attributable to failure to file return with respect to a tax, or pay a tax, within the time required by the law under which the tax is imposed, or to failure to file return with respect to a tax or pay a tax.  (4) "Recovery exclusion", with respect to a bad debt, prior tax, or delinquency amount, means the amount, determined in accordance with regulations prescribed by the collector, of the deductions or credits allowed, on account of such bad debt, prior tax, or delinquency amount, which did not result in a reduction of the taxpayer's tax under this Chapter or corresponding provisions of prior statutes reduced by the amount excludible in previous taxable years with respect to such debt, tax, or amount under this paragraph.   Added by Acts 1950, No. 445, §2.
LA Rev Stat § 47:53.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§53.2. Exclusion from gross income; income from discharge of indebtedness

RS 53.2 - Exclusion from gross income; income from discharge of indebtedness  Special Rule of Exclusion.--No amount shall be included in gross income by reason of the discharge, in whole or in part, within the taxable year, of any indebtedness for which the taxpayer is liable, or subject to which the taxpayer holds property, if--  (1) the indebtedness was incurred or assumed--  (a) by a corporation, or  (b) by an individual in connection with property used in his trade or business, and  (2) such taxpayer makes and files a consent to the regulations prescribed under R.S. 47:156C (relating to adjustment of basis) then in effect at such time and in such manner as the collector of revenue by regulations prescribes.  In such case, the amount of any income of such taxpayer attributable to any unamortized premium (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be included in gross income, and the amount of the deduction attributable to any unamortized discount (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be allowed as a deduction.  Added by Acts 1956, No. 433, §1.
LA Rev Stat § 47:53.3 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§53.3. Repealed by Acts 1972, No. 729, §1.

RS 53.3 - Repealed by Acts 1972, No. 729, §1.
LA Rev Stat § 47:53.4 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§53.4. Exclusions from gross income; amounts of purchase of annuities for certain employees

RS 53.4 - Exclusions from gross income; amounts of purchase of annuities for certain employees  A. There shall be excluded from the gross income of an employee of an employer which is exempt from tax under R.S. 47:121(5) and from the gross income of an employee of an educational institution, as that term is hereafter defined, amounts which by agreement with the employee are set aside from the employee's compensation and used by the employer for the purchase of annuities for the employee.  As used herein, "educational institution" means only an educational institution which normally maintains a regular faculty and curriculum and normally has a regular organized body of students in attendance at the place where its educational activities are carried on.  B. There shall be excluded from the gross income of teachers and other employees of parish and city school boards amounts set aside under R.S. 17:1315 from the teachers' and other employees' salaries and used by the school boards for the purchase of annuities for the teachers and other employees.  Added by Acts 1970, No. 197, §1.
LA Rev Stat § 47:54 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§54. Deductions from gross income; interest

RS 54 - Deductions from gross income; interest  A. In computing net income, there shall be allowed as deductions all interest paid or accrued within the taxable year on indebtedness except:  (1) On indebtedness incurred or continued to purchase or carry obligations or securities the income from which is wholly exempt by law from the taxes imposed by this Chapter, or  (2) On indebtedness incurred or continued, or the proceeds of which were used, in connection with the purchasing or carrying of an annuity.  B. As used in this section the word "interest" shall mean and include any deferred payment costs or charges, whether designated as interest, service or carrying charges or other charges by whatsoever term designated paid on credit, installment or other types of delayed or deferred payment purchases and other indebtedness.  Amended by Acts 1967, No. 3, §1.
LA Rev Stat § 47:55 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§55. Deductions from gross income; taxes generally

RS 55 - Deductions from gross income; taxes generally  In computing net income, there shall be allowed as deductions all taxes paid or accrued within the taxable year except:  (1) Taxes imposed by this chapter;  (2) Estate and gift taxes;  (3) Taxes assessed against local benefits of a kind tending to increase the value of the property assessed; but this paragraph shall not exclude the allowance as a deduction of so much of such taxes as is properly allocable to maintenance or interest charges;  (4) Any income taxes paid on net income on which no Louisiana income tax has been paid, and, on which, for any reason whatsoever, no Louisiana income tax will be paid, except income taxes attributable to a difference between credits against net income allowed by R.S. 47:79 and like credits against net income allowed in the law under which such income taxes are paid; and  (5) Repealed by Acts 2021, No. 396, §2, eff. Jan. 1, 2022.  Amended by Acts 1970, No. 258, §1; Acts 1974 No. 188, §1; Acts 2010, No. 175, §5; Acts 2016, 1st Ex. Sess., No. 30, §1; Acts 2021, No. 396, §2, eff. Jan. 1, 2022.
LA Rev Stat § 47:56 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§56. Deductions from gross income; taxes on shareholders paid by corporation

RS 56 - Deductions from gross income; taxes on shareholders paid by corporation  A deduction for taxes allowed by R.S. 47:55 shall be allowed to a corporation in the case of taxes imposed upon a shareholder of the corporation upon his interest as shareholder which are paid by the corporation without reimbursement from the shareholder, but in such cases no deduction shall be allowed the shareholder for the amount of such taxes.
LA Rev Stat § 47:57 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§57. Deductions from gross income; charitable and other contributions

RS 57 - Deductions from gross income; charitable and other contributions  In computing the net income of an individual, or a corporation, deductions shall be allowed for contributions or gifts made within the taxable year to or for the use of:  (1) The State of Louisiana, or any political subdivision thereof, for exclusively public purposes;  (2) A corporation, or trust, or community chest fund or foundation, organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual;  (3) The special funds for vocational rehabilitation authorized by Section 11 of the World War Veterans' Act, 1924;  (4) Posts or organizations of war veterans, or auxiliary units or societies of any such posts or organizations, if such posts, organizations, units, or societies are organized in the United States or any of its possessions, and if no part of their net earnings inures to the benefit of any private shareholder or individual; or  (5) A fraternal society, order, or association, operating under the lodge system, but only if such contributions or gifts are to be used exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals.  Such contributions or gifts shall be allowable as deductions only if verified under rules and regulations prescribed by the collector, and shall be allowed to an amount which in all of the above cases combined does not exceed fifteen per cent of an individual's adjusted gross income as defined in R.S. 47:68, and shall be allowed in the case of a corporation to an amount which in all of the above cases combined does not exceed five per centum of the corporation's net income as computed without the benefit of this Section, except that in the case of an individual if in the taxable year and in each of the eight preceding taxable years the amount of the contributions or gifts described in paragraphs (1) through (5) of this Section, plus the amount of income taxes paid under this Chapter, exceed ninety per centum of the taxpayer's net income for each taxable year, as computed without the benefit of this Section as applicable to each year, then the fifteen per centum limit imposed herein shall not be applicable.  Amended by Acts 1950, No. 445, §1.
LA Rev Stat § 47:58 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§58. Deductions from gross income; bad debts

RS 58 - Deductions from gross income; bad debts  In computing net income, deductions shall be allowed for debts which become worthless within the taxable year, or, in the discretion of the collector, for a reasonable addition to a reserve for bad debts; and when satisfied that a debt is recoverable only in part, the collector may allow such debt as a deduction in an amount not in excess of the amount charged off within the taxable year.
LA Rev Stat § 47:59 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§59. Deductions from gross income; alimony payments

RS 59 - Deductions from gross income; alimony payments  In computing net income, deductions shall be allowed for amounts paid as alimony, including alimony pendente lite, by husband or wife under order of court of competent jurisdiction. This Section shall not apply to that part of any payments which the terms of the judgment fix, in terms of an amount of money or a portion of the payments, as a sum which is payable for the support of minor children of the person making the payments.
LA Rev Stat § 47:59.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§59.1. Deduction from gross income; adaptive home improvements

RS 59.1 - Deduction from gross income; adaptive home improvements  A. Any person with a disability, as described by R.S. 51:2232, which is permanent in nature, whose gross family income is fifty thousand dollars or less, may deduct from the individual's gross income any expense incurred for adaptations made necessary by the disability to the individual's primary residence. The deduction shall be limited to five thousand dollars.  B. Any person claiming an exemption under Subsection A of this Section shall provide to the Department of Revenue:  (1) A certificate of a qualified physician verifying the existence of a disability as described by R.S. 51:2232, which is permanent in nature.  (2) A notarized statement by the individual claimant demonstrating that each adaptation for which the individual claims a deduction is necessary due to the presence of the disability in order for the individual to engage in normal household activity.  Acts 1994, No. 11, §1, eff. June 7, 1994; Acts 1997, No. 658, §2; Acts 2001, No. 1032, §15.
LA Rev Stat § 47:60 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§60. Deductions from gross income; losses by individuals

RS 60 - Deductions from gross income; losses by individuals  In computing the net income of an individual, deductions shall be allowed for losses sustained during the taxable year and not compensated for by insurance or otherwise:  (1) If incurred in trade or business; or  (2) If incurred in any transaction entered into for profit, though not connected with the trade or business; or  (3) Of property not connected with the trade or business, if the loss arises from fires, storms, shipwrecks, or other casualty or from theft. No loss shall be allowed as a deduction under this subsection if at the time of filing of the return such loss had been claimed as a deduction for estate tax purposes in the estate tax return.  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.
LA Rev Stat § 47:60.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§60.1. Deductions from gross income; casualty losses by individuals

RS 60.1 - Deductions from gross income; casualty losses by individuals  Any resident of the area declared to be a disaster area by the President of the United States because of Hurricane Camille, which occurred on August 19, 1969, may deduct from his Louisiana net income for the year 1970 the amount of casualty loss, not otherwise covered by and satisfied by insurance payments, caused by Hurricane Camille and determined under R.S. 47:60 which exceeded the individual taxpayer's net income for 1969. If the amount of such loss as determined under R.S. 47:60 exceeded net income of the individual for 1969 and 1970 combined, the excess of such loss may be deducted in computing taxable net income for 1971.  The provisions of this section shall only apply to said casualty losses as prescribed above sustained by individual taxpayers, and shall in no case be applicable to such losses sustained by taxpayers of other classes.  The collector of revenue is authorized to prescribe rules, regulations and forms, if same are necessary, in order to facilitate the deductions herein authorized.  Added by Acts 1970, No. 593, §1.
LA Rev Stat § 47:61 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§61. Deductions from gross income; losses by corporations

RS 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.
LA Rev Stat § 47:62 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§62. Deductions from gross income; business expenses

RS 62 - Deductions from gross income; business expenses  In computing net income, deductions shall be allowed for all ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered; travelling expenses, including the entire amount expended for meals and lodging, while away from home in the pursuit of trade or business; and rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
LA Rev Stat § 47:63 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§63. Deductions from gross income; dividends received by corporations

RS 63 - Deductions from gross income; dividends received by corporations  In computing the net income of a corporation, deductions shall be allowed for the amount received as dividends from another corporation to the extent that such dividends have been earned within the State of Louisiana and the income from which paid has been taxed under this Chapter or under Act 21 of 1934, as amended.
LA Rev Stat § 47:64 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§64. Deductions from gross income; pension trusts

RS 64 - Deductions from gross income; pension trusts  An employer establishing or maintaining a pension trust to provide for the payment of reasonable pensions to his employees, if such trust is exempt from tax under R.S. 47:185, relating to trusts created for the exclusive benefit of employees, shall be allowed as a deduction in addition to the contributions to such trust during the taxable year to cover the pension liability accruing during the year, allowed as a deduction under R.S. 47:62, a reasonable amount transferred or paid into such trust during the taxable year in excess of such contributions, but only if such amount (1) has not theretofore been allowed as a deduction, and (2) is not in excess of ten per centum of the cost which would be required to completely fund the service credits of all employees under the plan, computed in accordance with the rules and regulations of the collector; provided that amortization may be continued as to any payments previously made and remaining unamortized as of January 1, 1950. Whenever the limitation of clause (2) above applies, the excess of the amount paid over the ten per cent limitation shall be carried forward to subsequent years and treated as a payment during each succeeding year until it shall have been fully deducted under the ten per cent limitation hereinabove prescribed.  Amended by Acts 1950, No. 445, §1.
LA Rev Stat § 47:66 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§66. Deductions from gross income; depletion

RS 66 - Deductions from gross income; depletion  In computing net income in the case of mines, oil and gas wells, other natural deposits, and timber a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case, shall be allowed as a deduction; such reasonable allowances in all cases to be made under rules and regulations to be prescribed by the collector. In any case in which it is ascertained, as a result of operations or of development work, that the recoverable units are greater or less than the prior estimate thereof, then such prior estimate, but not the basis for depletion, shall be revised and the allowance under this Section for subsequent taxable years shall be based upon such revised estimate. In the case of leases the deductions shall be equitably apportioned between the lessor and lessee. In the case of property held by one person for life, with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in trust, the allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance with the pertinent provisions of the instrument creating the trust, or, in the absence of such provisions, on the basis of the trust income allocable to each.  The basis upon which depletion is to be allowed in respect of any property shall be as provided in R.S. 47:158.
LA Rev Stat § 47:69 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§69. Repealed by Acts 1979, No. 586, §1.

RS 69 - Repealed by Acts 1979, No. 586, §1.
LA Rev Stat § 47:70 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§70. Blank

RS 70 - Blank
LA Rev Stat § 47:71 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§71. Limitations on deductions for losses from wagering and from wash sales

RS 71 - Limitations on deductions for losses from wagering and from wash sales  A. Wagering losses. Losses from wagering transactions shall be allowed as deductions only to the extent of gains from such transactions.  B. Loss on wash sales of stock or securities. For disallowance of loss deductions in the case of sales of stock or securities where within thirty days before or after the date of the sale the taxpayer has acquired substantially identical property, see R.S. 47:160.
LA Rev Stat § 47:72 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§72. Limitations on deductions for capital losses

RS 72 - Limitations on deductions for capital losses  Losses from sales or exchanges of capital assets shall be allowed as deductions only to the extent of the gain from such sales or exchanges.  The term "capital assets" means all property of the taxpayer, whether or not connected with his trade or business, except stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in a trade or business, of a character which is subject to the allowance for depreciation provided in R.S. 47:65; and land used in a trade or business of the taxpayer.
LA Rev Stat § 47:73 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§73. Items not deductible; family transactions

RS 73 - Items not deductible; family transactions  In computing net income, no deduction shall in any case be allowed in respect of losses from sales or exchanges of property, directly or indirectly, between members of a family or, except in the case of distributions in liquidation, between an individual and a corporation in which such individual owns, directly or indirectly, more than fifty per centum (50%) of the voting stock.  For the purpose of this Section an individual shall be considered as owning the stock owned, directly or indirectly, by his family; and the family of an individual shall include only his brothers and sisters, whether by whole or half blood, spouse, ancestors, and lineal descendants.