La. Admin. Code tit. 61 § V-3303

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

Section V-3303 - Allocation for Credit Purposes of Assessments Not Directly Attributable to a Specific Office

A. All property assessments not directly attributable to a specific office will be allocated, for purposes of the 50 percent credit from shareholders assessments, according to the following methods.

1. If the institution has one or more office(s) in the parish where such property assessments are located, the amount to be allocated to each such office shall be determined by the percentage each office's average of deposits bears to the total average deposits of all offices in that parish.

2. If the institution does not have a full service banking office in the parish where such property assessments are located, the credit shall be assigned to the institution's main office location.

B. Except as provided herein, no assessment shall hereafter be made against the capital stock, surplus, undivided profits or reserves of any financial institution engaged in the banking or savings and loan business, chartered under the laws of this state or of the United States, doing business in this state, whose capital stock is represented by shares. (R.S. 47:1967 and R.S. 6:942)

La. Admin. Code tit. 61, § V-3303

Promulgated by the Department of Revenue and Taxation, Tax Commission, LR 16:1064 (December 1990).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1967, R.S. 47:1968, R.S. 47:1969, R.S. 6:942, R.S. 6:943 and R.S. 6:944.