Louisiana Statutes
§ 47:153 — Unadjusted basis; property converted from personal use
Louisiana·Title 47 Revenue and Taxation
In the case of property converted from personal use to business use or to use for profit, the basis shall be the lower of:
(1)the fair market value of such property at the time of the conversion; or
(2)the basis as otherwise determined under R.S. 47:140.
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Legislative History
Amended by Acts 1958, No. 242, §9.
Nearby Sections
15
§ 47:1001
§ 47:1001§ 47:1002
Nature of tax; exclusions from tax§ 47:1003
Definitions§ 47:1004
Businesses partly taxable§ 47:1005
Repealed by Acts 1966, No. 270, §1§ 47:1006
Reports and payment of tax§ 47:101
§ 47:101§ 47:1010
Disposition of collections§ 47:102
Corporation returns