Louisiana § 47:77 Items not deductible; miscellaneous

Louisiana Statutes

§ 47:77 — Items not deductible; miscellaneous

Louisiana § 47:77

Title 47Revenue and Taxation

This text of Louisiana § 47:77 (Items not deductible; miscellaneous) 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. § 47:77 (2026).

Text

Except as provided by R.S. 47:59.1, in computing net income, no deduction shall in any case be allowed in respect of:

(1)Personal, living, or family expenses;

(2)Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate, except as provided in R.S. 47:67;

(3)Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made;

(4)Premiums paid on any life insurance policy covering the life of any officer or employee, or of any person financially interested in any trade or business, carried on by the taxpayer, when the taxpayer is directly or indirectly a beneficiary under such policy.

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Except as provided by R.S. 47:59.1, in computing net income, no deduction shall in any case be allowed in respect of:
(1) Personal, living, or family expenses;
(2) Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate, except as provided in R.S. 47:67;
(3) Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made;
(4) Premiums paid on any life insurance policy covering the life of any officer or employee, or of any person financially interested in any trade or business, carried on by the taxpayer, when the taxpayer is directly or indirectly a beneficiary under such policy.