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2018 Louisiana Laws
Revised Statutes
TITLE 47 - Revenue and Taxation
RS 47:151 - Unadjusted basis; property acquired during affiliation
Universal Citation: LA Rev Stat § 47:151 (2018)
§151. Unadjusted basis; property acquired during affiliation
In the case of property acquired by a corporation, during a period of affiliation, from a corporation with which it was affiliated, the basis of such property after such period of affiliation, shall be determined in accordance with regulations prescribed by the collector, without regard to inter-company transactions in respect to which gain or loss was not recognized.
For the purpose of this Section, the term "period of affiliation" means the period during which such corporations were affiliated, determined in accordance with the law applicable thereto, but does not include any taxable year beginning on or after January 1, 1934.
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