2013 Louisiana Laws
Revised Statutes
TITLE 47 - Revenue and Taxation
RS 47:242 - Segregation of items of gross income

§242. Segregation of items of gross income

All items of gross income, not otherwise exempted in this Chapter, shall be segregated into two general classes.

(1) The class of gross income to be designated as "allocable income" shall include only the following:

(a) rents and royalties from immovable or corporeal movable property;

(b) profits from sales or exchanges of property (including such items as stocks, bonds, notes, land, machinery, mineral rights) not made in the regular course of business;

(c) interest income;

(d) dividends from corporate stock;

(e) royalties or similar revenue from the use of patents, trade marks, copyrights, secret processes, and other similar intangible rights;

(f) income from estates, trusts and partnerships;

(g) salaries, wages or other compensation received by a nonresident individual for personal services;

(h) income from construction, repair, or other similar services.

(2) The class of income to be designated as "apportionable income" shall include all items of gross income which are not properly includible in allocable income as defined in this Section.

Amended by Acts 1958, No. 170, §1.