La. Admin. Code tit. 61 § V-123
Current through Register Vol. 50, No. 6, June 20, 2024
Section V-123 - Statutes Pertaining to Specific Personal PropertyA. Listing and Assessing of Notes and Indebtedness 1. All credits, including open accounts, bills receivable, judgments and all promissory notes, not exempt, shall be assessed at the personal property ratio. Valuation shall be at an average of the capital employed in the business after deduction from accounts payable, bills payable and other liabilities of a similar character, not exempt. Liabilities due from branches or subsidiaries shall not be deducted (R.S. 47:1962).2. Indebtedness and all evidence of indebtedness shall be taxable only at the situs and domicile of the holder or owner thereof (R.S. 47:1952).La. Admin. Code tit. 61, § V-123
Promulgated by the Department of Revenue and Taxation, Tax Commission, LR 8:102 (February 1982), amended LR 10:921 (November 1984), LR 15:1097 (December 1989), amended by the Department of Revenue, Tax Commission, LR 24:479 (March 1998), Amended LR 481518 (6/1/2022).AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1952 and R.S. 47:1962.