Louisiana Statutes
§ 47:51 — Exclusions from gross income; governmental subsidies
Louisiana·Title 47 Revenue and Taxation
§51. Exclusions from gross income; governmental subsidies
Funds accrued by a corporation engaged in operating a public transportation system
from any federal, state or municipal governmental entity to subsidize the operation and
maintenance of such a transportation system shall not be included in gross income and shall
be exempt from taxation under this Chapter. All expenses of operating the transit system
incurred by the corporation shall be deductible in arriving at net income.
NOTE: See Acts 2015, No. 123, §5, re: applicability.
NOTE: See Acts 2018, 2 nd E.S., No. 4, §1, re: applicability.
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Legislative History
Added by Acts 1979, No. 300, §1; Acts 2015, No. 123, §1, eff. July 1, 2015 and §3,
eff. July 1, 2018.
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Repealed by Acts 1966, No. 270, §1§ 47:1006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