Skip to main content
Find a Lawyer

Louisiana Revised Statutes Tit. 47, § 75. Items not deductible; unpaid expenses and interest

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

In computing net income, no deduction shall be allowed under R.S. 47:62, relating to expenses incurred, or under R.S. 47:54, relating to interest accrued:

(1) If such expenses or interest are not paid within the taxable year or within two and one-half months after the close thereof; and

(2) If, by reason of the method of accounting of the person to whom the payment is to be made, the amount thereof is not, unless paid, includable in the gross income of such person for the taxable year in which or with which the taxable year of the taxpayer ends; and

(3) If, at the close of the taxable year of the taxpayer or at any time within two and one-half months thereafter, the relationship between the taxpayer and the person to whom the payment is to be made is one of the following:

(a) between members of a family;

(b) between an individual and a corporation more than fifty per centum (50%) in value of the outstanding stock of which is owned directly or indirectly by or for such individual;

(c) between two corporations more than fifty per centum (50%) in value of the outstanding stock of each of which is owned directly or indirectly by or for the same individual;

(d) between a grantor and a fiduciary of any trust;

(e) between the fiduciary of a trust and the fiduciary of other trusts, if the same person is a grantor with respect to each trust;

(f) between a fiduciary of a trust and beneficiary of such trust.

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

Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 47, § 75. Items not deductible; unpaid expenses and interest - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-47-sect-75/

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