Louisiana Revised Statutes 47:46 – Gross income does not include:
Terms Used In Louisiana Revised Statutes 47:46
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Gross income does not include:
(1) amounts received under workers’ compensation acts as compensation for personal injuries or sickness;
(2) the amounts of any damages received (whether by suit or agreement) on account of personal injuries or sickness;
(3) amounts received through accident or health insurance for personal injuries or sickness (other than amounts received by an employee, to the extent such amounts (a) are attributable to contributions by the employer which were not includible in the gross income of the employee, or (b) are paid by the employer); and
(4) amounts received as a pension, annuity, or similar allowance for personal injuries or sickness resulting from active service in the armed forces of any country or in the coast and geodetic survey or the public health service.
Amended by Acts 1958, No. 242, §3.