La. Revenue and Taxation § 47:155
Current with changes from the 2024 legislative session effective on or before 7/1/2024, from Acts 1-3, 6-671
In the case of property acquired before January 1, 1934, if the basis otherwise determined under R.S. 47:140 through 47:154, adjusted as provided in R.S. 47:156, is less than the fair market value of the property as of January 1, 1934, then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation, as of January 1, 1934, due regard shall be given to the fair market value of the assets of the corporation as of that date.
La. Revenue and Taxation § 47:155