Louisiana § 47:264 Overpayments arising from allowance of deductions for bad debts or worthless stock

Louisiana Statutes

§ 47:264 — Overpayments arising from allowance of deductions for bad debts or worthless stock

Louisiana § 47:264

Title 47Revenue and Taxation

This text of Louisiana § 47:264 (Overpayments arising from allowance of deductions for bad debts or worthless stock) 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. § 47:264 (2026).

Text

In the case of an overassessment which arises from the allowance of a deduction for a bad debt or worthless stock which has not been claimed and allowed on a return of the taxpayer for another year, the period of limitation prescribed in R.S. 47:1623 shall be extended for an additional period of two years, and the limitation on the amount of credit or refund provided in R.S. 47:1623 shall be suspended.

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In the case of an overassessment which arises from the allowance of a deduction for a bad debt or worthless stock which has not been claimed and allowed on a return of the taxpayer for another year, the period of limitation prescribed in R.S. 47:1623 shall be extended for an additional period of two years, and the limitation on the amount of credit or refund provided in R.S. 47:1623 shall be suspended.