Louisiana § 47:214 Basis of distributee partner's interest

Louisiana Statutes

§ 47:214 — Basis of distributee partner's interest

Louisiana § 47:214

Title 47Revenue and Taxation

This text of Louisiana § 47:214 (Basis of distributee partner's interest) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 47:214 (2026).

Text

In the case of a distribution by a partnership to a partner other than in liquidation of a partner's interest, the adjusted basis to such partner of his interest in the partnership shall be reduced (but not below zero) by:

(1)the amount of any money distributed to such partner, and

(2)the amount of the basis to such partner of distributed property other than money, as determined under R.S. 47:213.

Free access — add to your briefcase to read the full text and ask questions with AI

In the case of a distribution by a partnership to a partner other than in liquidation of a partner's interest, the adjusted basis to such partner of his interest in the partnership shall be reduced (but not below zero) by:
(1) the amount of any money distributed to such partner, and
(2) the amount of the basis to such partner of distributed property other than money, as determined under R.S. 47:213.