Louisiana Revised Statutes 47:56 – Deductions from gross income; taxes on shareholders paid by corporation
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Terms Used In Louisiana Revised Statutes 47:56
- 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 deduction for taxes allowed by La. Rev. Stat. 47:55 shall be allowed to a corporation in the case of taxes imposed upon a shareholder of the corporation upon his interest as shareholder which are paid by the corporation without reimbursement from the shareholder, but in such cases no deduction shall be allowed the shareholder for the amount of such taxes.