La. Revenue and Taxation § 47:77

Current with operative changes from the 2024 Third Special Legislative Session

Section 47:77 - Items not deductible; miscellaneous

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.

La. Revenue and Taxation § 47:77

Amended by Acts 1954, No. 162, §2; Acts 1958, No. 169, §1; Acts 1994, No. 11, §1, eff. June 7, 1994.

Amended by Acts 1954, No. 162, §2; Acts 1958, No. 169, §1; Acts 1994, No. 11, §1, eff. 6/7/1994.