§93. Period for which deductions and credits shall be taken
A. Except as hereinafter provided in this Section, the deductions and credits provided
for in this Chapter shall be taken for the taxable year in which "paid or accrued" or "paid or
incurred," dependent upon the method of accounting upon the basis of which the net income
is computed, unless in order to clearly reflect the income the deductions or credits should be
taken as of a different period.
B. The proper year in which to claim deductions for federal income and excess
profits taxes allowable under the provisions of R.S. 47:55 shall be determined as follows,
regardless of the method of accounting regularly employed by the taxpayer:
(1)The amount of tax shown to be due upon the federal income tax return of the
taxpayer, as file
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§93. Period for which deductions and credits shall be taken
A. Except as hereinafter provided in this Section, the deductions and credits provided
for in this Chapter shall be taken for the taxable year in which "paid or accrued" or "paid or
incurred," dependent upon the method of accounting upon the basis of which the net income
is computed, unless in order to clearly reflect the income the deductions or credits should be
taken as of a different period.
B. The proper year in which to claim deductions for federal income and excess
profits taxes allowable under the provisions of R.S. 47:55 shall be determined as follows,
regardless of the method of accounting regularly employed by the taxpayer:
(1) The amount of tax shown to be due upon the federal income tax return of the
taxpayer, as filed, shall be allowed as a deduction in the state return for the same period as
that for which such federal return is filed.
(2) Federal income and excess profits taxes paid after the filing of the federal return
in addition to the amount disclosed to be due by the return as filed shall be allowed as a
deduction in the state return for that period if it is not prescribed. If it is prescribed, the
deduction for such additional taxes shall be allowed as a deduction in the state return for the
period in which such additional tax is paid. This Subsection shall apply to all such payments
after December 31, 1973.
C. If a deduction is claimed and allowed in any period, the same deduction cannot
again be claimed in a subsequent period in which it otherwise would be properly deductible,
unless the taxpayer, prior to the running of prescription with respect to the first period, shall
have amended his return for that period so as to eliminate the deduction and shall have paid
any additional tax which may be due as a result thereof, together with any interest and
penalties that may be applicable thereto.