La. Admin. Code tit. 61 § V-1901

Current through Register Vol. 50, No. 6, June 20, 2024

Section V-1901 - Guidelines for Ascertaining the Fair Market Value of Leasehold Improvements

A. Leasehold improvements are expenditures by the lessee to property of the lessor to make the property adaptable to the lessee's use. Such expenditures can be either real or personal property in nature.

B. Expenditures classified as real property shall be assessed like all other real property.

C. For expenditures classified as personal property, the fair market value shall be determined in the same manner as machinery and equipment, office furniture and fixtures, and other personal property of businesses. Refer to the guidelines for ascertaining the fair market value of office furniture and equipment, machinery and equipment, and other assets used in §2501

La. Admin. Code tit. 61, § V-1901

Promulgated by the Department of Revenue and Taxation, Tax Commission, LR 8:102 (February 1982), amended LR 13:764 (December 1987).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1837 and R.S. 47:2323.