reglab/housing_qa huggingface dataset:
LA Rev Stat § 47:287.736 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.736. Real Estate Investment Trusts (REITs)

RS 287.736 - Real Estate Investment Trusts (REITs)  A. The tax imposed by this Part upon corporations shall be imposed upon real estate investment trusts and shall be computed only upon that part of the net income of the real estate investment trust which is subject to federal income tax as provided in Sections 857 and 858 of the Internal Revenue Code of 1986, as amended, except as otherwise provided in this Section. B. The term "real estate investment trust" shall have the meaning ascribed to such term in Section 856 of the Internal Revenue Code of 1986, as amended. C. The dividend paid deduction otherwise allowed by federal law in computing net income of a real estate investment trust that is subject to federal income tax shall not be allowed as a deduction in computing the tax imposed by this Part unless the real estate investment trust is either (1) a publicly traded real estate investment trust or (2) a qualified real estate investment trust as defined in this Section. D. For purposes of this Section, the term "qualified real estate investment trust" shall mean any real estate investment trust other than a real estate investment trust more than fifty percent of the voting power or value of the beneficial interests or shares of which are owned or controlled, directly or indirectly, by a single entity that is: (1) Subject to the provisions of Subchapter C of Chapter 1 of Subtitle A of Title 26 of the United States Code, as amended, and not exempt from federal income tax pursuant to the provisions of Section 501 of the Internal Revenue Code of 1986, as amended. (2) Not a real estate investment trust as defined in this Section or a qualified real estate investment trust subsidiary under Section 856(i) of the Internal Revenue Code of 1986, as amended. Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986; Acts 2005, No. 396, §1, eff. for all taxable periods beginning after Dec. 31, 2005.
LA Rev Stat § 47:287.741 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.741. Special rule for leases

RS 287.741 - Special rule for leases  Special federal rules for leases or finance leases shall be ignored in the determination of gross income, allowable deductions, net income, and Louisiana net income under this Part. For purposes of this Section, "special federal rules for leases or finance leases" means Section 168(f)(8) of the Internal Revenue Code of 1954, as amended by the Tax Equity and Fiscal Responsibility Act of 1982 and the Tax Reform Act of 1984, and such provisions, portions, or principles thereof as are retained in federal law by the transitional rules of the Tax Reform Act of 1986.  Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
LA Rev Stat § 47:287.745 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.745. Deductions from gross income; depletion

RS 287.745 - Deductions from gross income; depletion  A. In computing net income in the case of oil and gas wells there shall be allowed as a deduction cost depletion as defined under federal law or percentage depletion as provided for in Subsection B, whichever is greater.  B. In the case of oil and gas wells, the percentage depletion provided for in Subsection A shall be twenty-two percent of gross income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or incurred by the taxpayer in respect of the property. Such allowance shall not exceed fifty percent of the net income of the taxpayer, computed without allowance for depletion, from the property. In determining net income from the property, federal income taxes shall be considered an expense.  Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986; Acts 2015, No. 123, §1, eff. July 1, 2015; §3, eff. July 1, 2018.  NOTE: See Acts 2015, No. 123, §5, re: applicability.  NOTE: See Acts 2018, 2nd E.S., No. 4, §1, re: applicability.
LA Rev Stat § 47:287.746 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.746. Adjustments to income and deductions

RS 287.746 - Adjustments to income and deductions  Income and deductions reported under federal law may be increased or decreased to take into account the differences in reporting under prior Louisiana law or due to modifications, such as depletion and intangible drilling and development costs, under this Part. Such increase or decrease shall be as prescribed by the secretary.  Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
LA Rev Stat § 47:287.747 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.747. Situs of stock cancelled or redeemed in liquidation

RS 287.747 - Situs of stock cancelled or redeemed in liquidation  In cases where property located in Louisiana is received by a shareholder in the liquidation of a corporation, the stock cancelled or redeemed in the liquidation shall, for purposes of determining taxable gain under this Part, be deemed to have its taxable situs in this state to the extent that the property of the corporation distributed in liquidation is located in Louisiana. If only a portion of the property distributed in liquidation is located in Louisiana, only a corresponding portion of the gain realized by a shareholder shall be considered to be derived from Louisiana sources. Nothing in this Section shall be construed to mean that gain or loss shall be recognized upon the transfer of property in a merger of corporations where the basis of the property in the hands of the merging corporation is carried forward as the basis in the hands of the continuing corporation.  Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
LA Rev Stat § 47:287.748 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.748. Corporation tax credit; re-entrant jobs credit

RS 287.748 - Corporation tax credit; re-entrant jobs credit  A. The intent of this Section is solely to encourage the employment in full-time jobs in the state of Louisiana of re-entrants who have been convicted of a felony and who have successfully completed the Intensive Incarceration Program as provided for in R.S. 15:574.4. Any taxpayer who employs an eligible re-entrant during the taxable year in the state of Louisiana shall be allowed a credit against the tax liability due under the corporate income tax as determined pursuant to Subsection B of this Section.  B.(1) The credit shall be one hundred eight dollars per eligible re-entrant employed, as defined in Subsection C hereof, but shall not exceed thirty-six percent of corporate income tax.  (2) Only one credit shall be permitted for any one individual employee during his employment by the taxpayer and shall be in lieu of any credit available under R.S. 47:287.749.  (3)(a) The amount of the credit allowed under Subsection B(1) for the taxable year shall be an amount equal to the sum of:  (i) A carry-over of prior unused credits arising from taxable years beginning on or after January 1, 1987, carried to such taxable year, plus  (ii) The amount of the credit determined under Subsection A for the taxable year.  (b) If the sum of the amount of credits as determined under the provisions of Subsection B(3)(a)(i) and (ii) of this Section for the current taxable year exceeds the limitation imposed by Subsection B(1), the excess shall be treated as a carry-over credit and may be carried over for a maximum of five consecutive years following the taxable year in which the credit originated. Such carry-over credits are to be applied in reduction of the tax in the order of the taxable years in which the credits originated, beginning with the credit for the earliest taxable year.  C. "Eligible re-entrant" is defined as a person:  (1) Residing and domiciled in this state; who has been convicted of a felony and who has successfully completed the Intensive Incarceration Program as provided for in R.S. 15:574.4.  (2) Who has been employed by the taxpayer in a full-time position in this state, performing such duties at least thirty hours per week for at least six consecutive calendar months.  (3) Who, since his release from custody and prior to this current employment by the taxpayer, has not been employed in a full-time position for six months or more.  D. The credit provided for pursuant to the provisions of this Section shall terminate and shall have no effect beginning January 1, 2020.  Acts 1987, No. 758, §1; Acts 2015, No. 125, §2, eff. July 1, 2015; Acts 2016, 1st Ex. Sess., No. 29, §2; Acts 2017, No. 400, §§1, 4, eff. June 26, 2017; Acts 2017, No. 403, §2, eff. June 26, 2017.
LA Rev Stat § 47:287.751 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.751. Reconciliation of transitional differences

RS 287.751 - Reconciliation of transitional differences  A. The secretary is authorized to provide methods for transition and allocation between the requirements of prior law and the requirements of this Part in order that timing differences and other differences in tax accounting such as the adjusted basis of property may be reconciled.  B. Differences between prior law and this Part respecting basis or other provisions such as those which require or allow a taxpayer to do the following:  (1) To report gross income under this Part in a period later than under prior law or earlier than under prior law.  (2) To deduct expenses under this Part one or more periods after such expenses are allowable under prior law or one or more periods before such expenses are allowable under prior law.  (3) To report an item of income more than once.  (4) To deduct an item of cost more than once, may be allocated by the secretary between taxable years, or disallowed, or required to be reported, as the case may be, when the secretary determines such allocations or methods are necessary to clearly reflect income.  C. For purposes of this Section, the term "require" includes lawful elections made by the taxpayer.  D. The secretary is authorized to promulgate rules and regulations to carryout and enforce the purposes of this Section.  Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
LA Rev Stat § 47:287.752 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.752. Tax credit for employment of first-time nonviolent offenders

RS 287.752 - Tax credit for employment of first-time nonviolent offenders  A. There shall be a credit against the tax liability due under this Chapter, as provided in this Section, for each taxpayer who provides full-time employment to an individual who has been convicted of a first-time nonviolent offense.  B.(1) The credit shall be one hundred forty-four dollars per taxable year per eligible employee.  (a) Only one credit is allowed per taxable year per employee.  (b) The credit may be received for a maximum of two years per employee.  (2) The credit shall be available upon certification by the employee's probation officer that the employee has successfully completed a court-ordered drug treatment/rehabilitation program or any other court-ordered program and has worked one hundred eighty days full-time for the employer seeking the credit.  (3)(a) The form for applying for the credit shall be determined by the Department of Revenue and such form shall contain a signed statement executed by both employer and employee certifying the employee’s active full-time work status at the time the credit is taken.  (b) The secretary of the Department of Revenue shall promulgate such rules and regulations as may be deemed necessary to carry out the purposes of this Section.  C. As used in this Section, the following terms shall have the following meanings:  (1) "Eligible employee" and "employee" mean an individual convicted of a first-time nonviolent offense.  (2) "Full-time employment" means working a minimum of thirty hours per week.  (3) "Nonviolent offense" means an offense that is not defined as a "crime of violence" pursuant to R.S. 14:2(B).  D. The credit provided for pursuant to the provisions of this Section shall terminate and shall have no effect beginning January 1, 2020.  Acts 1994, 3rd Ex. Sess., No. 104, §1; Acts 1997, No. 658, §2; Acts 2001, No. 1032, §15; Acts 2005, No. 285, §1, eff. June 29, 2005, for tax years beginning on and after Jan. 1, 2005; Acts 2016, 1st Ex. Sess., No. 29, §2; Acts 2017, No. 400, §§1, 4, eff. June 26, 2017; Acts 2017, No. 403, §2, eff. June 26, 2017.
LA Rev Stat § 47:287.756 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.756. Tax credit for environmental equipment purchases

RS 287.756 - Tax credit for environmental equipment purchases  A. Any business entity authorized to do business in the state of Louisiana and subject to the state corporation income tax imposed by this Part, except a corporation classified under the Internal Revenue Code as a Subchapter S Corporation, shall be allowed a tax credit for the purchase of environmental equipment designed to recover or recycle chlorofluorocarbons used as refrigerants in commercial, home, and automobile air-conditioning systems, refrigeration units, and industrial cooling applications. B. The tax credit shall be twenty percent of the purchase price of the equipment if paid for in a single taxable year. If the equipment purchased is financed over two or more taxable years, the tax credit in a taxable year shall be twenty percent of that portion of the original purchase price paid in that taxable year. C. All environmental equipment for which a tax credit is sought shall conform with technical standards set by the secretary of the Department of Environmental Quality. The secretary of the Department of Revenue shall utilize those standards in the promulgation of such rules and regulations as may be deemed necessary to carry out the purposes of this Section. D. The tax credit allowed by this Section shall apply only to equipment purchased between July 1, 1989 and December 31, 1991. The credit for equipment purchased prior to January 1, 1991 shall be claimed on either an amended return for the applicable tax year or in the first taxable year filing following January 1, 1991. E. The tax credit allowed by this Section shall not exceed the total income tax liability of the corporation. Acts 1991, No. 312, §1, eff. Jan. 1, 1991; Acts 1997, No. 658, §2. {{NOTE: SEE ALSO R.S. 47:297(G).}}
LA Rev Stat § 47:287.757 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.757. Repealed by Acts 2009, No. 469, §2, eff. July 9, 2009.

RS 287.757 - Repealed by Acts 2009, No. 469, §2, eff. July 9, 2009.
LA Rev Stat § 47:287.758 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.758. Tax credit for bone marrow donor expense

RS 287.758 - Tax credit for bone marrow donor expense  A. As used in this Section, the following definitions shall apply:  (1) "Bone marrow donor expense" means the sum of amounts paid or incurred during the tax year by an employer for the following:  (a) Development of an employee bone marrow donation program.  (b) Employee education related to bone marrow donation, including but not limited to the need for donors and an explanation of the procedures used to determine tissue type and donate bone marrow.  (c) Payments to a health care provider for determining the tissue type of an employee who agrees to register or registers as a bone marrow donor.  (d) Wages paid to an employee for time reasonably related to tissue typing and bone marrow donation. However, any wages that are used to obtain any tax credit provided in this Section shall not be deductible as an expense for income tax purposes.  (e) Transportation of an employee to the site of a donation or any other service which is determined by the Louisiana Department of Health by rule as essential for a successful bone marrow donation.  (2) "Employee" means an individual:  (a) Who is regularly employed by the taxpayer for more than twenty hours per week.  (b) Who is not a temporary or seasonal employee.  (c) Whose wages are subject to withholding under R.S. 47:111 through 120.3.  (3) "Wages" has the meaning given the term for purposes of R.S. 47:111 through 120.3.  B. A credit against the taxes otherwise due under this Part for the tax year is allowed to an employer. The amount of the credit is equal to eighteen percent of the bone marrow donor expense paid or incurred during the tax year by an employer to provide a program for employees who are potential or who actually become bone marrow donors.  C.(1) Except as provided in Paragraph (2) of this Subsection, the allowance of a credit under this Section shall not affect the computation of taxable income for purposes of this Part.  (2) If in determining the amount of the credit for any tax year an amount allowed as a deduction under Section 170 of the Internal Revenue Code is included in bone marrow donor expense, the amount allowed as a deduction shall be added to federal taxable income.  Acts 1992, No. 206, §2; Acts 2015, No. 125, §2, eff. July 1, 2015; Acts 2016, 1st Ex. Sess., No. 29, §2; Acts 2017, No. 400, §§1, 4, eff. June 26, 2017.
LA Rev Stat § 47:287.759 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.759. Tax credit for employee and dependent health insurance coverage

RS 287.759 - Tax credit for employee and dependent health insurance coverage  A. When any contractor or subcontractor in the letting of any contract for the construction of a public work offers health insurance coverage as provided for in this Section, he shall be eligible for a three percent income tax credit on forty percent of the amount of the contract received in a tax year if eighty-five percent of the full-time employees of each contractor are offered health insurance coverage and each such general contractor or subcontractor pays seventy-five percent of the total premium for such health insurance coverage for each full-time employee who chooses to participate and pays not less than fifty percent of the total premium for health insurance coverage for each dependent of the full-time employee who elects to participate in dependent coverage.  B. For the purposes of this Section, a full-time employee shall be one that is scheduled to work a minimum of thirty-five hours per week and who earns from the general contractor or subcontractor less than forty thousand dollars annually.  C.(1) The credit shall be allowed against the income tax for the period in which the credit is earned.  (2) A credit shall not be allowed to a general contractor for any contract amounts received that are paid to a subcontractor eligible for a credit on such amount.  (3) The credit shall not exceed two million one hundred sixty thousand dollars per year.  Acts 2005, No. 504, §1, eff. July 12, 2005, applicable to tax years beginning on and after Jan. 1, 2005, but before Jan. 1, 2008; Acts 2015, No. 125, §2, eff. July 1, 2015; Acts 2016, 1st Ex. Sess., No. 29, §2; Acts 2017, No. 400, §§2, and 4, eff. June 26, 2017.
LA Rev Stat § 47:287.785 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§287.785. Rules and regulations

RS 287.785 - Rules and regulations  A. The secretary is authorized to promulgate, make, and publish reasonable rules and regulations for the purpose of the proper administration and enforcement of this Part and the collection of revenues hereunder. Such rules and regulations shall not be inconsistent with the provisions of Title 47 or other laws or the Constitution of this state. Rules and regulations adopted and promulgated by the secretary in accordance with law shall have the full force and effect of law.  B. To the extent not otherwise provided in this Part, any election under this Part shall be made at such time and in such manner as the secretary may prescribe by instructions, regulations, directions, or forms.  C. Regulations in force on effective date of Part.  (1) Existing regulations, duly adopted for the administration and interpretation of Chapter 1 of Title 47, relative to the income taxation of corporations, which are in existence and operative on the effective date of this Part shall remain fully effective for taxable years beginning before January 1, 1987.  (2) Carryover regulations. Existing regulations relative to the income taxation of corporations other than insurance companies, which are not inconsistent with this Part and which the secretary deems necessary and useful for the administration of this Part, shall continue to have the full force and effect of law without formal promulgation pursuant to the provisions of the Administrative Procedure Act, R.S. 49:950 et seq. In connection with the carryover of the regulations, the secretary shall not alter the sense, meaning, or effect of any existing rule or regulation intended carryover effect,* but may:  (i) Renumber and rearrange Sections or parts of Sections.  (ii) Transfer Sections or divide Sections so as to give to distinct subject matters a separate Section number, but without changing the meaning.  (iii) Insert or change the wording of headnotes.  (iv) Change reference numbers to agree with renumbered Chapters, Parts, or Sections.  (v) Substitute the proper Section number for the term "the preceding Section" and the like.  (vi) Strike out figures where they are merely a repetition of written words and vice-versa.  (vii) Change capitalization, spacing, and margins for purposes of uniformity.  (viii) Correct manifest typographical and grammatical errors.  (ix) Make any other purely formal or clerical changes in keeping with the purpose of revising or updating the carryover of the regulations.  Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986. *AS APPEARS IN ENROLLED BILL.
LA Rev Stat § 47:290 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§290. Purpose

RS 290 - Purpose A. This Part is intended to conform the Louisiana individual income tax law with the United States Internal Revenue Code, except as otherwise expressly provided, in order to simplify the taxpayer's filing of returns, reduce the taxpayer's accounting burden, and facilitate the collection and administration of these taxes. B. It is intended that for any taxable year individuals domiciled, residing, or having a permanent place of abode in Louisiana shall be taxed upon income from whatever sources derived and that all other individuals having income earned within or derived from sources in this state shall be taxed upon their Louisiana income for that year. Acts 1980, No. 316, §1.
LA Rev Stat § 47:291 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§291. Application of Part

RS 291 - Application of Part  The provisions of this Part shall apply only to individual taxpayers. This Part is not applicable to estates or trusts.  Acts 1980, No. 316, §1.
LA Rev Stat § 47:292 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§292. Inconsistent provisions

RS 292 - Inconsistent provisions The provisions of this Part shall supersede the provisions of Part I and Part II of this Chapter to the extent that they are inconsistent or in conflict herewith. The provisions of Part I and Part II of this Chapter shall remain in effect to the extent that they are not inconsistent or in conflict with this Part. Acts 1980, No. 316, §1.
LA Rev Stat § 47:292.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 47 - Revenue and Taxation|§292.1. Special authority for the secretary with respect to military service in the Persian Gulf area

RS 292.1 - Special authority for the secretary with respect to military service in the Persian Gulf area  Notwithstanding any provisions of law to the contrary, the secretary shall grant certain relief to military personnel for service in the Persian Gulf area or associated with Operation Desert Shield to the full extent of such relief granted by federal law.  Acts 1991, No. 889, §1, eff. for taxable years beginning on or after Jan. 1, 1990.