Louisiana Revised Statutes 47:247 – Allowance of deductions and credits
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Terms Used In Louisiana Revised Statutes 47:247
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A corporation shall receive the benefit of the deductions and credits allowed to it in this Chapter only by filing or causing to be filed with the collector a true and accurate return of its total income received from all sources in the United States, in the manner prescribed in this Chapter, including therein all the information which the collector may deem necessary for the calculation of such deductions and credits.
Amended by Acts 1968, No. 106, §9.