Skip to main content
Find a Lawyer

Louisiana Revised Statutes Tit. 47, § 297.26. Tax deduction; hardship distributions from retirement accounts

Current as of January 01, 2023 | Updated by Findlaw Staff

A. There shall be allowed a deduction from tax table income for amounts that a qualifying resident taxpayer receives in a taxable year through hardship distributions from one or more retirement accounts.

B. For purposes of this Section, the following terms shall have the meanings ascribed to them in this Subsection:

(1) “Hardship distribution” means a withdrawal from a retirement plan participant's elective deferral account made because of an immediate and serious financial need as determined in accordance with the policies of the plan.

(2) “Qualifying taxpayer” means a taxpayer who has been diagnosed with a terminal illness by a licensed physician. In the case of married joint filers, “qualifying taxpayer” shall also mean a taxpayer's spouse who has been diagnosed with a terminal illness by a licensed physician.

(3) “Terminal illness” shall have the meaning ascribed in R.S. 40:1169.3.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 47, § 297.26. Tax deduction; hardship distributions from retirement accounts - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-47-sect-297-26/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard